Alumninum Corporation of China, also known as Chinalco, has acquired controlling stakes of rival Huaxi Alumninum as a move to accelearte expansion of its alumninum business, The Standard reported. Chinalco has paid 236 million yuan (29.5 million US dollars) for Huaxi’s 56.86 percent stakes. The paper quoted analysts as saying that the acquisition is in line with the company's strategy to shift its focus to downstream business to absorb most of its alumina output as raw material prices continue to fall. "As the prices of alumina are on a downward trend, the expansion of downstream business could help digest Chinalco's alumina output," said an equity analyst who declined to be named. Alumina is a raw material used in making aluminum. Sichuan-based Huaxi Aluminum produces aluminum sheet and aluminum foil, each with an annual production capacity of 30,000 tons.