Chinalco says may up Rio stake if conditions right

SHANGHAI, Sept 1 (Reuters) - Chinese aluminium giant Chinalco, which holds a minority stake in Anglo-Australian miner Rio Tinto, may raise its stake if market conditions are right but it has no timetable for such a move, its chairman said on Monday. "Under the right market conditions, this is an option, it is possible. But we have not decided when," Xiao Yaqing told a briefing for reporters in Shanghai. Xiao, also the chief executive of Aluminum Corp of China Ltd (Chalco), controlled by Chinalco and China's largest alumina and aluminium producer, added that in the second half of this year alumina prices were expected to be volatile and primary aluminium prices were expected to fluctuate around 18,000 yuan ($2,628) per tonne. (Reporting by Alfred Cang; Writing by Edmund Klamann; Editing by Keiron Henderson)