Metal Products News
- Chalco cuts alumina price 10 percent
Date: 14-Sep-2007 Sources: (Shenzhen Daily)
ALUMINUM Corp. of China Ltd. (Chalco), the world's second-largest producer of alumina, cut its spot alumina price by about 10 percent to 3,500 yuan (US$462.96) a ton from Thursday.
Chalco's current spot alumina price is at 3,900 yuan a ton, according to its Web site. In another development, Alcoa Inc., the world's largest aluminum maker, said Wednesday it sold its stake in Chalco for about US$2 billion, a US$1.8 billion gain on an investment. Alcoa said it bought the stake six years ago as a financial investment and its role as an investor was no longer needed by the now-established Chalco.
Sponsor Results:
