China's NFC Makes $9.37-Mln Aluminium Sale to Connected Wanxiang Resources

SHANGHAI, Jan. 10 (SMM) – China Nonferrous Metal Industry’s Foreign Engineering and Construction Co. (NFC) disclosed a $9.37 million sale of aluminium ingots to connected party Wanxiang Resources (Singapore) Pte Ltd. 

NFC signed a contract on Dec. 26, 2013 to sell 4,747 tonnes of aluminium ingots to Wanxiang’s branch company in Singapore at $1,974.06 per tonne, it told Shenzhen Stock Exchange today.

Wanxiang Resources (Singapore) is a wholly-owned subsidiary of Wanxiang Resources Co. which is the second largest shareholder of NFC with a shareholding of 7.87%, NFC said.