China's Chalco has no immediate plan to raise alumina price - official |
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Wed, 24 Jan 2007 02:09
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BEIJING (XFN-ASIA) - Aluminum Corp of China Ltd (Chalco) has no immediate plan increase its alumina prices, a company spokesperson told XFN-Asia.The spokeswoman was responding to a query about a media report that Chalco's domestic rivals have decided to raise their prices.'We are unaware of moves by other refineries on the alumina price. Regardless, we have no immediate plans to make changes ourselves,' said Zhang Qing, Chalco's spokeswoman.The South China Morning Post reported today that seven Chinese smelters were jointly raising their prices for the precursor to finished aluminum to between 2,900 and 3,300 yuan per ton, against 2,800 at the end of last week.Chalco, China's largest alumina and aluminum maker, is planning to bring online new alumina capacity, having earlier this month won approval to build an alumina project with a capacity of 800,000 tons in Chongqing for 4.27 bln yuan, reports said.Chalco is currently constructing another 800,000 ton capacity project in Guizhou in the south of China.(1 usd = 7.8 yuan)andrew.pasek@xinhuafinance.com
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