A poor price environment in the aluminum market hit Rusal hard in the fourth quarter but demand should increase, the deputy chief executive officer of the world's largest aluminum producer, Rusal, told CNBC.
"Talking about our fourth quarter results it's important to understand that the price environment was quite pessimistic," Oleg Mukhamedshin said on Wednesday.
Earlier on Wednesday, Russia-based Rusal reported a 53 percent decline in fourth quarter core profit as weak aluminum prices hit the metal producer hard. For 2015 as a whole, the producer swung to a net profit of $558 million compared with a net loss of $91 million in 2014.
Rusal added that in the fourth quarter, the aluminum price reached an average of $1,495 per ton, a 24 percent decrease compared to $1,968 in the same quarter of the previous year.