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MARKET TALK:Chalco's Spot Alumina Hike Unlikely To Impact Mkt

Wednesday, Mar 21, 2007
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Spot alumina prices in China, aluminum futures on Shanghai Futures Exchange unlikely to be moved by Chalco's (2600.HK) announcement it would raise its spot alumina price by 8.3%, says aluminum trader at Shanghai-based firm. Notes most of Chalco's alumina orders are long-term contracts, has limited spot tonnage, while there are a lot of non-Chalco miners in China. SHFE aluminum tad lower today but relatively flat, as spot aluminum price hasn't changed. LME 3-month aluminum down $24 on London PM kerb at $2,770/ton.

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