Chalco to resume 90pct of alumina capacity by the end of 2009

DJ cited Mr Luo Jianchuan president of Aluminum Corporation of China Limited as saying that his company expects to resume 90% of its alumina production capacity by the year end.

Chalco said that its alumina production rate is currently at 67% of capacity.

Mr Xiong Weiping chairman of Chalco said that he expects the problem of overcapacity of alumina and aluminum in China and globally to be resolved in 3 years.

Chalco posted a net loss of CNY 3.52 billion in the H1 of this year compared with a net profit of CNY 2.39 billion per year earlier due to weak demand and low aluminum prices.

Analysts said that China's CNY 4 trillion stimulus measures have spurred demand for aluminum from the property and auto sectors since the H2 of 2008 in turn boosting demand for alumina.

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