Chalco Shares Fall 3.5 pct After Alumina Price Cut-Shanghai Metals Market

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Chalco Shares Fall 3.5 pct After Alumina Price Cut

Industry News 10:32:29AM Jun 02, 2010 Source:SMM

HONG KONG, June 2 -- Shares in Aluminum Corp of China Ltd (Chalco) <2600.HK>, the country's top alumina and aluminium maker, fell as much as 3.6 percent on Wednesday after the company cut its spot price for alumina by 5 percent.

The company <601600.SS> lowered its alumina price to 2,850 yuan per tonne from 3,000 yuan on Tuesday, its first cut in 17 months, as Europe's debt crisis pinched demand for the material used in aluminium production.

The stock hit a low of HK$6.11 in Hong Kong before paring losses to 2.5 percent in the first eight minutes of trade. The blue chip Hang Seng Index <.HSI> was up 0.6 percent.

 

Key Words:  alumina  CHALCO 

Price

more
Aluminum Ingot
Apr.19
14050.0
40.0
(0.29%)
Alumina (Averaged)
Apr.19
2665.0
0.0
(0.00%)
Alumina-East
Apr.19
2680.0
0.0
(0.00%)
Alumina -Central
Apr.19
2670.0
0.0
(0.00%)
Alumina - North
Apr.19
2660.0
0.0
(0.00%)

Chalco Shares Fall 3.5 pct After Alumina Price Cut

Industry News 10:32:29AM Jun 02, 2010 Source:SMM

HONG KONG, June 2 -- Shares in Aluminum Corp of China Ltd (Chalco) <2600.HK>, the country's top alumina and aluminium maker, fell as much as 3.6 percent on Wednesday after the company cut its spot price for alumina by 5 percent.

The company <601600.SS> lowered its alumina price to 2,850 yuan per tonne from 3,000 yuan on Tuesday, its first cut in 17 months, as Europe's debt crisis pinched demand for the material used in aluminium production.

The stock hit a low of HK$6.11 in Hong Kong before paring losses to 2.5 percent in the first eight minutes of trade. The blue chip Hang Seng Index <.HSI> was up 0.6 percent.

 

Key Words:  alumina  CHALCO