Jan 27, 2012 (Dow Jones) -- Aluminum prices will be "reasonably stable" for the first six months of 2012 and then could start to rise in the second half 2012 , Oleg Deripaska, chief executive of Russian aluminum producer United Co. Rusal (0486.HK) told CNBC Friday.

Deripaska, speaking from the sidelines of the World Economic Forum annual meeting, said aluminum prices would strengthen somewhat in the second half of the year. He also said that he expects Chinese aluminum supply will decrease over the next two years and said that he doesn't believe that China will export primary aluminum products.

Deripaska went on to tell Bloomberg TV that the European construction industry is still ailing and that the weakness seen in southern Europe's construction industry was starting to move north. Rusal may consider closing some of its facilities over the next 18 months., he said.