Chalco Shares Rise on Output Cut Plan

Aluminum Corp. of China Ltd. (Chalco) rose to the highest in a month in Shanghai trading after the country's producers agreed to cut output by as much as 10 percent.

Chalco, gained as much as 7 percent to 15 yuan, the highest since June 13, and traded at 14.45 yuan at 10:41 a.m.

China's aluminum producers, the largest in the world, agreed yesterday to cut output for at least three months to ease a power shortage, sending prices to a record. The reductions may alleviate a sixth year of power shortages and curb Chinese aluminum exports that jumped 43 percent in June.

Yunnan Aluminium Co., China's fourth-largest producer of the light metal, climbed as much as 8.4 percent to 9.77 yuan in Shenzhen trading, and traded at 9.29 yuan at 10:54 a.m. local time. Chalco's Hong Kong-traded shares also climbed 5.6 percent.

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