UC Rusal expects shortage of aluminium on world market at the level of 1.3 million tons in 2014

The shortage of aluminium on the world market will exceed 1.3 million tons in 2014, said UC Rusal’s CEO, Oleg Deripaska. "We were very optimistic about the situation in the aluminum industry before the crisis, completely relied on trade and raw materials infrastructure that allowed us to maintain stocks. Now most companies understand that it is time to carry out adjustments in the production. By results of the previous year the shortage was at the level of 400 thousand tons of aluminium, this year it will be over 1.3 million tons," - Oleg Deripaska reported.

Earlier UC Rusal stated that in 2014 the global aluminum shortage (excluding China) was expected to reach 1.2 million tons as compared to 306 thousand tons in 2013 because of a decline in the global production by 1.5-1.6 million tons in 2014.