CHALCO Cuts Alumina Spot Prices 7% to RMB 2,650/mt-Shanghai Metals Market

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CHALCO Cuts Alumina Spot Prices 7% to RMB 2,650/mt

SMM Insight 11:52:39AM Jul 05, 2010 Source:SMM

SHANGHAI, July 5 (SMM) -- Aluminum Corporation of China Limited (CHALCO) cut spot alumina prices by 7%, to RMB 2,650/mt, effective July 1st. 

CHALCO settled selling prices for spot alumina at RMB 2,850/mt in June.  Previously on June 1st, CHALCO lowered alumina spot prices from RMB 3,000/mt, to RMB 2,850/mt

Non-CHALCO alumina producers are currently making deals at RMB 2,400/mt, offers quoted by CHALCO are still higher than actual traded prices even after price cuts, leaving only a  limited number of deals reported for alumina at CHALCO prices.   As a result, any impact on aluminum markets from CHALCO's price adjustment is limited. However, the recent cuts in alumina prices are a reflection of CHALCO's pessimism toward short-term alumina prices, and allows for the possibility of further alumina price cuts by non-CHALCO alumina producers.

 

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None of this material may be used for any commercial or public use in any forms or means, without the prior written consent of SMM. For reproduction issue, please contact us by email: service.en@smm.cn

 

CHALCO Cuts Alumina Spot Prices 7% to RMB 2,650/mt

SMM Insight 11:52:39AM Jul 05, 2010 Source:SMM

SHANGHAI, July 5 (SMM) -- Aluminum Corporation of China Limited (CHALCO) cut spot alumina prices by 7%, to RMB 2,650/mt, effective July 1st. 

CHALCO settled selling prices for spot alumina at RMB 2,850/mt in June.  Previously on June 1st, CHALCO lowered alumina spot prices from RMB 3,000/mt, to RMB 2,850/mt

Non-CHALCO alumina producers are currently making deals at RMB 2,400/mt, offers quoted by CHALCO are still higher than actual traded prices even after price cuts, leaving only a  limited number of deals reported for alumina at CHALCO prices.   As a result, any impact on aluminum markets from CHALCO's price adjustment is limited. However, the recent cuts in alumina prices are a reflection of CHALCO's pessimism toward short-term alumina prices, and allows for the possibility of further alumina price cuts by non-CHALCO alumina producers.

 

Copyright © SMM. All Rights Reserved

None of this material may be used for any commercial or public use in any forms or means, without the prior written consent of SMM. For reproduction issue, please contact us by email: service.en@smm.cn