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Goldman Sachs: alumina price cut to have little effect on Chalco |
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Written by Administrator
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Monday, 17 September 2007 |
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BEIJING, Sept. 13 (InfoChina) – Goldman Sachs said in a report released Thursday that the alumina price cut by Aluminum Corp of China (Chalco, ACH: NYSE, 2600: HK, 601600: SH) to 3500 yuan/ton from 3900 yuan/ton is within its estimation and will affect the company’s 2007 profit only by 0.6 percent as spot alumina sales to third parties accounts for only 10 percent of the company’s total output.
The investment bank also noted that the price cut will enhance Chalco’s competitiveness. It keeps its “buy” rating, with target price at 28 HK dollars. (InfoChina) |
China Stock News