China's Chalco sees further downside price pressure on alumina

BEIJING (XFN-ASIA) - Aluminum Corp of China Ltd (Chalco) said it sees further downside pressure on alumina prices, although the pressure will be mitigated by its price cuts last week.

The price cut of 16.67 pct to 3,500 yuan per ton was intended to "bring prices in harmony with current spot rates," investor relations manager Zhang Qing told XFN-Asia.

"There is still some downside price pressure, but it has been somewhat minimized by our latest reduction," Zhang said.

(1 usd = 6.9 yuan)

andrew.pasek-vanburen@xinhuafinance.com - xfnap/xfntm

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