Chalco Shares Fall 3.5 pct After Alumina Price Cut

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.