Chalco down 9 pct after cutting aluminium output

Shares in Aluminum Corp of China <2600.HK> fell 9 percent on Thursday after the firm said it aimed to cut annual aluminium production capacity by about 18 percent due to declining prices and weakened demand.

The stock <601600.SS> was set to open at HK$2.9, down HK$0.28.

Analysts said the production cut would not be enough to shore up prices of the metal.

The company, China's top producer of alumina and aluminium, said late on Wednesday it planned to cut capacity by 720,000 tonnes. [ID:nHKG352391]

It is expected to report its third quarter results on Friday.

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