Rusal's profit slumped 70 percent in the first half of 2016, but the deputy CEO of the aluminum giant said tightening Chinese supply was helping stabilize metal prices.
"The price is very much stable at the moment and we can see… improved supply-demand balance," Oleg Mukhamedshin told CNBC on Friday.
On Thursday, the Russian company posted a decline in first half net profit to $261 million from $879 million in the first six months of 2015.
Aluminum's cash ask price was $1,624 per ton on the London Metals Exchange on Thursday. The metal has stabilized at low levels this year after tumbling in 2015 and the latter part of 2014. It has shown fledgling strength in recent weeks, gaining 1.6 percent since the start of August.