MARKET TALK: Chalco Under Pressure For Alumina Price Cut

Aluminum Corporation of China Ltd, or Chalco, the world's second-largest alumina producer by capacity, is under pressure to make a further cut to its quoted alumina prices as more production capacity comes on stream, says Macquarie Bank. Spot business is currently being transacted at around $325/ton-to-$350/ton in China's domestic market, equivalent to a fob Australia price of roughly $240-$260/ton, Macquarie adds. Currently Chalco's quoted alumina price is around $369/ton, after three price cuts in just two months.