State Reserve Bureau (SRB) buys 1.9 billion yuan of electrolytic aluminium from Chalco

According to sources, SRB lately bought 150000 tons of electrolytic aluminium from Aluminium Corporation of China (Chalco); but whether to purchase more has not been released yet.

Previous source revealed that SRB decided to purchase 290000 tons of electrolytic aluminium, including 150000 tons from Chalco, 20000 tons each from seven companies such as Qingtongxia Aluminium, China Power Investment Holinhe Coal And Electricity and Yunnan Aluminium, etc. in the price of 12,350 yuan/ton.

Speaker of Chalco said that the company annually produces 3000000 tons of electrolytic aluminium, 5% of which was purchased by SRB, contributed little to Chalco.

Aluminium falls back after days of rising. Shanghai spot aluminium fell 5% to 11,920 yuan/ton, pushing stock of Chalco down by 9.3%, closed at 4.58 yuan.

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