Chalco cuts alumina price by 300 yuan

Chalco lowered its spot alumina price by 300 yuan per ton to 2600 ypt today, which has been the fourth dent since June this year.

On November 06, 2008, Chalco announced to axe alumina production in high-cost operations from late October due to a slowdown in the electrolytic aluminium production and lower alumina price. The company had idled up to 4.11 million tpy alumina capacity by November 5, accounting for around 38 percent of the total output, which included 640,000 tpy from the Zhongzhou branch, 1.1 million tpy from the Shanxi branch, 1.17 million tpy from the Shandong branch and 1.2 million tons from the Henan branch.

An increasing slowdown of aluminium demand and its price may further push deterioration of aluminium companies¡¯ overall profits level, with most are operating in loss. Chalco¡¯s repeated reductions for alumina products are expected to control cost as well as to keep current aluminium price.

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