Feb. 1, 2007 (China Knowledge) – Aluminum Corp of China Ltd (Chalco) said it has raised spot prices for alumina by 50% to RMB 3,600 per ton effective immediately, in order to bring its price more into line with its competitors.

The company also said that the price increase was due to the high import price differential and pressure from recent hikes by domestic firms - seven domestic smelters recently increased their prices to around RMB 3,900 per ton.

Chalco plans to sell shares on the Shanghai Stock Exchange next month to supplement its Hong Kong listing, and had halted its restructuring to focus on the IPO. It said that it will resume looking for more takeover targets once the IPO was completed.