Chinalco will lower aluminum price by 10%

Insiders say that Chinalco will lower aluminum price by 10% to 3500 yuan. The statistics show the current aluminum price is 3900 yuan/ton.

Experts of this industry say there will be a surplus of aluminum in global market this year, and increasing supply has a great impact on aluminum price decline, in particular the increase of China aluminum output, which enables aluminum market to be surplus from earlier deficit.

Chinalco announced earlier that it had paid more attention to electrolyze aluminum than to alumina since 2006, and wouldn¡¯t rebuild alumina project in the following three days.

In 2006, alumina output of China is up to 13.24 million tons, among which Chinalco produced 9.2 million tons accounting for 70% of the global market.

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