Chalco raises alumina price for forth time

Chalco raised the alumina price again yesterday, now the spot alumina price is 2550 yuan / ton, increasing 6.25%. This is the forth time for the company to raise the alumina price. Meanwhile, the industry analysts believe that even if the aluminum price keeps rising, it will only do a little help to the improvement of the company's H2 operating results and the task of making up for the loss is still arduous.

Before this adjustment, the company has increased the price on January 17th, April 1st and August 3rd. The increase is 200yuan/ton, 100yuan/ton, 100yuan/ton respectively.

Lanke, the non-ferrous metals industry analyst at Southwest Securities said: "because most products of the company are produced and marketed for the company itself, so the benefit will not be very obvious."

"And the key reason for the price increase is caused by the H1 report of the company. According to the report, the company's net loss reached 3.522billion yuan, which exceed the expectation of the industry. Meanwhile, the loss is mainly caused by the electrolytic aluminium, but not the alumina."

"Judged by the current situation, it is possible for the company to achieve breakeven in Q3, and win some profit in Q3, but the company is probably end up with performance loss for the early loss.

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