Chalco says the merger of BHP Billiton and Rio Tinto to affect copper price

Beijing, Nov 22 -- Luo jianchuan, president of Aluminum Corp. of China Ltd said, BHP billiton -- the Australian mining giant’s bid for the competitor-Rio Tinto will affect copper price greatly. Luo jianchuan said, once if the merger was done, China will be affected deeply, as both the companies have huge mineral resources. China is the biggest mineral resource consumer in the world currently. So the further concentration of global upstream resource will concern most Chinese enterprises. The report from Lehman Brothers Inc showed that the new company will hold 37%, 15%, 13% of world iron ore, aluminium, copper exports respectively.