Aluminium International Today
Chalco suffers loss again
Edited by : AL CIRCLE
1 min read
The Aluminium Corporation of China Ltd (Chalco) was in the red for the first three months of the year. In its first quarterly report published by the Shanghai- and Hong Kong-listed company, it warned of potential loss for the first half year, citing low aluminium and high raw material prices.
Chalco suffered a net loss of RMB1.16bn ($183.4M) in the Jan- Mar period, compared with a RMB437.8M ($69.2M) net profit for the same period last year. The company blamed the drop to a decrease in the selling price of its products, higher energy costs as well as higher interest rates in 2011.
Chalco suffered a net loss of RMB1.16bn ($183.4M) in the Jan- Mar period, compared with a RMB437.8M ($69.2M) net profit for the same period last year. The company blamed the drop to a decrease in the selling price of its products, higher energy costs as well as higher interest rates in 2011.
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