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Chalco said to cut alumina spot price to 3500 RMB/T. |
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Written by Administrator
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Monday, 17 September 2007 |
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BEIJING, Sept. 13 (InfoChina) – Market hearsay goes that Aluminum Corp of China (Chalco, ACH: NYSE, 2600: HK, 601600: SH) will lower its alumina spot price to 3500 yuan/ton from 3900 yuan/ton.
Experts attribute this move to increasing supply and expect slight surplus in global market this year. Earlier, Chalco announced to attach strategic priority to electrolyte aluminum from alumina since 2006 and not to launch new alumina projects during next three years. This price dive is unlikely to influence Chalco’s profitability substantially since most of its alumina is traded among member enterprises. In 2006, China produced 13.24 million tons of alumina with Chalco producing 9.2 million tons or 69.4 percent of the total. (Edited by Liu Ya’nan) |
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