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Vimetco's profits rise 15% in 2009

April 27, 2010 - 13:08 GMT Location: London

KEYWORDS: vimetco , clementine wallop , aluminium

Vimetco’s profits rose 15% year-on-year in 2009, it said on Tuesday as it forecast continued strength in aluminium demand amid robust Chinese consumption

“Chinese demand is expected to rise by an additional 11% in 2010 to over 16 million tpy,” Vimetco, which has operations in Romania and China, said. “Analysts forecast an increase in average London Metal Exchange prices to $2,160 in 2010 despite the surplus that exists on the market. The basis of this forecast relies on stronger Chinese demand, among others,” it said. Vimetco’s results come at a time of strong spot aluminium demand,...

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