Rusal Q4 profits dive on low aluminium prices

Russian aluminium giant Rusal said Wednesday a plunge in the price of the metal hit revenues last year as fourth-quarter net profit dived but said it was confident demand would pick up in 2016. The cost of aluminium fell to a six-year low in late 2015, Bloomberg News reported, with supply exceeding demand by 300,000 tonnes as Chinese production surged. The European Union Chamber of Commerce warned last month that China's overcapacity in producing metals was wreaking "far reaching" damage on the