April 12th, 2010
08:34 AM GMT
Hong Kong, China – The leadership of the world's largest aluminum producer believes metals prices are making a comeback in 2010.
"We are bullish," Vladislav Soloviev, first deputy CEO of Rusal, told me in Hong Kong.
Demand, he believes, is strong, especially in China. The recovery in prices helped turn around his company's fortunes in 2009.
China's demand for commodities has been all over the news as of late. The country posted its first trade deficit in six years in March mainly because of the surge in imports of raw materials. Exports dropped because Chinese factories were slow to reopen after the Lunar New Year holiday.
The trade deficit is complicating the debate over the Chinese currency. Beijing has been under pressure to loosen its controls on the yuan, which many in Washington believe is set too low and contributes to the big U.S. trade deficit with China.
Soloviev believes Beijing will make a move this year. But unlike those in the manufacturing sector, he thinks a more flexible currency will give him a competitive edge.
Do you anticipate China will ease its currency controls soon? If so, what does that mean for your business?
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