Beijing, August 25 - Rusal, the world's largest aluminum producer, signed a memorandum of understanding with China Nonferrous Metals Industry Association in Beijing on August 25. Oleg muhammadshen, vice president of Rusal, said the two sides will cooperate in five aspects, including aluminum research and application, environment, recycling, long-term sustainable development and energy conservation and environmental protection in the 12th Five Year Plan.

In an interview with reporters, Oleg muhammadshen said that China is a very important market for Rusal, and this cooperation is a very important step for Rusal. In the future, the two sides will deepen mutual investment and carry out joint foreign investment, and cooperate in R & D and technology.

Oleg muhamedshen said that future cooperation with China will include technical exchanges and joint research and development, such as catalysts for primary aluminum production, energy-saving power supply for aluminum production, innovative alumina production methods, etc.; in terms of investment, China and Russia have a large space for cooperation in the aluminum industry, and Chinese enterprises can invest in Russia and make full use of Russia's low power Cost, joint construction, production of efficient aluminum products.

According to Rusal's forecast, global aluminum consumption will rise further this year, with an increase of about 7%. The main consumption industries are construction industry and transportation industry.

Oleg Muhammad Shen believes that the current international market price does not really reflect the cost of aluminum products. Compared with the exchange, there is a premium of about 200 US dollars / ton in the spot market, and 30% of the world aluminum industry is in a loss state. At present, many global mining giants, including Rio Tinto, are reducing production. Rusal will also announce a production reduction of 275000 tons on Monday (27th). With the continuous growth of consumption and the slowdown of production growth, according to Rusal's internal calculation, the global aluminum market was short of 600000 tons in the first half of 2012.

As the world's largest aluminum producer and one of the major alumina producers, Rusal's aluminum products have been registered in Shanghai Futures Exchange in 2011 and can be delivered according to the contract. The cooperation with China Nonferrous Metals Industry Association will further promote the long-term cooperation between Rusal and Chalco.

According to the special plan for the development of China's aluminum industry during the 12th Five Year Plan period, China will accelerate the transformation of the development mode of the aluminum industry, accelerate the transformation of energy-saving technology, vigorously develop deep-processing products, and strengthen international cooperation to improve the resource guarantee capacity, so as to realize the healthy and sustainable development of aluminum industry. (source: CICC)