04 MARCH 2015Shanghai Metal Market
Many Chinese listed aluminum smelters see huge losses for 2014
Edited by : AL CIRCLE
1 min read
2014 was a tough year for aluminum smelters in China as chronic overcapacity pushed many into loss-making territory, finance eastmoney websitereported yesterday.
29 Chinese listed companies in industrial metals industry had released their forecasts for earnings in 2014, of which many aluminum smelters predict losses for last year.
For example, Chalco expects to suffer a loss of 16.3 billion yuan ($ 2.64 billion), Yunnan Aluminum Co. sees losses of 400-450 million yuan, and Xinjiang Joinworld Co. expects it to lose 530-570 million yuan.
29 Chinese listed companies in industrial metals industry had released their forecasts for earnings in 2014, of which many aluminum smelters predict losses for last year.
For example, Chalco expects to suffer a loss of 16.3 billion yuan ($ 2.64 billion), Yunnan Aluminum Co. sees losses of 400-450 million yuan, and Xinjiang Joinworld Co. expects it to lose 530-570 million yuan.
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