30 APRIL 2015<a href= http://www.reuters.com/article/2015/04/28/chalco-china-results-idUSL4N0XO48J20150428 ' target='_blank'> Reuters </a>
China's top aluminium producer Chalco swings to profit in Q1
Edited by : AL CIRCLE
1 min read
Aluminum Corp of China Ltd (Chalco) swung to a profit in the first quarter of 2015 after domestic prices of the metal in the world's top consumer rose.
Chalco reported a net profit of 63.1 million yuan ($10.2 million) for the January-March period after a net loss of 2.16 billion yuan in the same period a year earlier, it said in a filing on the Hong Kong stock exchange on Tuesday.
The top Chinese producer of primary aluminium and raw material alumina had booked a record loss of 16.2 billion yuan in 2014 due to huge writedowns and weak metal prices as the Chinese economy slowed.
Chalco mainly sells its products in China, the world's top producer and consumer of aluminium. Chinese aluminium prices rose 1.4 percent in the first quarter, supported by reduced spot sales by some producers.
($1 = 6.2035 Chinese yuan renminbi)
Chalco reported a net profit of 63.1 million yuan ($10.2 million) for the January-March period after a net loss of 2.16 billion yuan in the same period a year earlier, it said in a filing on the Hong Kong stock exchange on Tuesday.
The top Chinese producer of primary aluminium and raw material alumina had booked a record loss of 16.2 billion yuan in 2014 due to huge writedowns and weak metal prices as the Chinese economy slowed.
Chalco mainly sells its products in China, the world's top producer and consumer of aluminium. Chinese aluminium prices rose 1.4 percent in the first quarter, supported by reduced spot sales by some producers.
($1 = 6.2035 Chinese yuan renminbi)
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