Deripaska: Party over in aluminum

Bloomberg

Deripaska, whose stake in United Co. Rusal makes him Russia’s richest man, predicted aluminum will average $1,600 per ton in the next seven years, compared with a current level of $1,349. That contradicts a forecast by Rusal Chairman Viktor Vekselberg, who said he’s "100 percent sure" the price will reach $2,000 a ton this year.

"What’s important at the moment for the metals and mining industry is to really stop hoping and prepare for the worst," Deripaska, Rusal’s chief executive officer, told reporters in Davos, Switzerland on Saturday, where he was attending the World Economic Forum.