Industry Special: UC Rusal to deepen cooperation with China

United Company Rusal, the world's largest aluminum producer, plans to expand its long-term partnership with Chinese aluminum corporations, said Oleg Deripaska, CEO of UC Rusal, at the 27th International Aluminum Conference 2012, which was held from Sept 12 to 14 in Moscow.

The price of metal is well below the pre-crisis level, while production costs have soared significantly. More than 30 percent of global businesses in the industry are unprofitable at the current aluminum price.

"The heavy burden of overcapacity and high stock levels caused by the financial crisis and eurozone debt crisis has exerted huge pressure on the aluminum industry. To remain competitive, the industry should be more focused on its customers, requiring greater collaboration between manufacturers and producers," Deripaska said.