Chinalco to ignore delay on Queensland Alumina Development report

Today, unaffected by the report on the Chinalco's delay of Queensland Alumina Development, the Chinalco(2600.HK) rises as expected.

The Australian said, citing Dan Foo, Chinalco has delayed a development decision on the A$2.2 billion ($2 billion) alumina refinery in Australia’s Queensland state because there is still uncertainty in the market.

But since most analysts hadn't taken the profits of those projects into account, the delay of the projects will not pose a big threat to the stock price.

It may take some years for the alumina market to recover to levels it was at before the global financial crisis, it said, citing Foo.

Yesterday, Chinalco closed at 8.72 Hong Kong dollars, increasing 0.5%.

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