The aluminum market will find an "equilibrium" this year after years of oversupply as Chinese producers cut back on production, according to the deputy chief executive of Rusal.
"We are actually carefully optimistic. We think that currently aluminum market is trying to find a balance. As you know, it was heavily oversupplied for several years in a row and finally this year we think it might be an equilibrium found," Oleg Mukhamedshin, deputy CEO of Rusal, told CNBC in a TV interview.
China started to cut production in the last three months of 2015, he said, and it is hoped the decline in supply will feed through to prices.
"What is good is news coming from China, you know, the overall supply is very much influencing the price and we can see in the fourth quarter (the) Chinese started to cut down production," Mukhamedshin told CNBC on Thursday.