Chalco raises alumina prices by 4.5%

Aluminum Corp of China Ltd (Chalco)<601600><2600><ACH>, the nation's largest aluminum producer and the world¡¯s third largest alumina producer, on Wednesday increased spot alumina prices by 4.5% to RMB 2,300 per ton from RMB 2,200 per ton in response to a 15% climb in spot prices during the past week.

Meanwhile, the company also raised the price of spot aluminum ingots to RMB 14,000 per ton from RMB 13,900 per ton.

It is the second time this year that Chalco has raised the alumina price. On Jan. 17, the alumina giant increased its alumina price to RMB 2,200 per ton from RMB 2,000 per ton.

Many industrial insiders attributed the price hike to the short supply of alumina, the result of government purchases supporting domestic producers.

According to some smelter officials, the increase in Chinese prices could spur more imports by the country, the world's top consumer of alumina for aluminum production, thus pushing up prices in the international market.

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