Chalco may encounter profit-taking

Chalco may encounter slight profit-taking as China¡¯s stimulus plan pulled it up by 19.0 to HK$ 3.45 while the stock is unlikely to break MA20. 

Besides, Chalco cut the spot price of alumina for a fourth time since June by 10% to 2,600 yuan, which might bring pressure on stock.

As demand weakens, analysts predict that most Chinese aluminium producers are losing money, which resulted in the price cut to some extent. While the price of alumina is close to the cost level, therefore, the down space is limited; instead, many smelters chose to cut the output.

Chalco said last week that it had spared 38% alumina capability for its low price. 

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