BEIJING (XFN-ASIA) - Aluminum Corp of China Ltd (Chalco) said it cut spot alumina prices by 23 pct.
Chalco is now offering spot alumina at 2,000 yuan per ton, down from 2,600 yuan at the end of 2008, according a statement posted on the company website (www.chalco.com.cn).
Chalco reduced prices foyr times in 2008, eventually settling at 2,600 yuan in November from 4,200 yuan at the beginning of the year, due to weak demand in an economic downturn.
(1 usd = 6.85 yuan)
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