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Chalco cuts spot alumina prices by 7pct

Monday, Jul 05, 2010
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  Reuters reported that Aluminum Corporation of China has cut spot prices of alumina by 7% to CNY 2,650 per tonne.


  As per report, this is the second month in a row that Chalco has lowered its alumina prices following 5% cut in June.


  Aluminium prices have weakened since earlier this year with 3 months aluminium on the London Metal Exchange CMAL3 down more than 10% so far this year, as doubts about the global economic recovery heightened and concerns of overcapacity weigh.


  Chalco raised alumina prices steadily throughout 2009 from a low of CNY 2,000. Prices halved in the H2 of 2008 from CNY 4,200 per tonne.

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