DJ Chalco President: Optimistic On Aluminum, Copper Prices This Year

BEIJING, Jan 15, 2011 (Dow Jones Commodities News Select via Comtex) --

Aluminum Corp of China Ltd. (2600.HK), or Chalco, is optimistic on aluminum and copper prices this year and aluminum prices are likely to rise more in 2011 than last year, Luo Jianchuan, president of the company, said Sunday.

Luo, speaking at a forum, said he sees a bubble in copper prices now but is still optimistic about them due to China's strong appetite for copper.

Luo also said Chalco will explore rare-earth resources in China's Fujian province.

Chalco, the listed unit of Aluminum Corp. of China, or Chinalco, also plans to establish a plant with Swedish aluminum extrusion company Sapa AB to produce aluminum for use in high-speed railways, Luo said. Chalco last year said it planned to set up a 50-50 joint venture with Sapa.

-Yajun Zhang contributed to this article; Dow Jones Newswires; 8610 8400 7799; yajun.zhang@dowjones.com

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