Chinalco cuts aluminium ingot price

Yesterday, the Chinalco cut its aluminium ingot price by 100 yuan to 152100 yuan. Just on September 1st, the company has increased the alumina price for the 4th time from 2400 yuan to 2550 yuan.

Last week, base metals prices change remained within a narrow range, of which the LME aluminium is the weakest, after fall bellow 2000 dollar/ton, the price dipped to 1850 dollar/ton. For the domestic market, although the aluminium demand shows little decrease, the vague price trend still has some impact on the procurement.

The analyst indicated, because of the recessed market, the Chinalco had to cut the aluminium ingot price. But the adjustment will have a big influence on the company in short term since most of the company's customers are with long-term orders.

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