Shares of Aluminum Corporation of China (Chalco) rallied during the latest trading session after investors responded positively to plans by its parent company to increase its shareholding, alongside improving aluminium market fundamentals. The company's Hong Kong-listed shares gained 6.28 per cent...
Shares of Aluminum Corporation of China (Chalco) rose on Monday after its controlling shareholder, Aluminum Corporation of China (Chinalco), announced plans to increase its stake in the state-owned aluminium producer by up to USD 300 million (CNY 2 billion), reflecting confidence in the company's...
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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...
The aluminium market faces the prospect of a growing surge of supply from China this year that could disrupt expectations of a global deficit. A divergence in prices between China and the rest of the world could spur exports and limit aluminium’s price gains this year, analysts say. A falling...
China’s state-owned aluminium producer, Aluminium Corp of China (Chalco), is expecting a loss of 16.4 billion yuan ($2.6 billion) for 2014 due to low aluminium prices and impairment charges. Impairment charges are seen in many areas like a 5.5 billion yuan impairment charge in Chalco’s earnings...
Aluminum Corp of China Ltd (Chalco), the country's biggest producer of primary aluminium, expects to swing to a loss in 2014 due to sluggish market prices and provisions, it said on Friday. Chalco, which is also China's biggest producer of alumina, the raw material needed to produce aluminium,...
Shanghai Metal Exchange had found that Chalco was planning to withhold aluminium inventories of up to 1.2 million tonnes along with 10 other leading aluminium producers of China in the hope of boosting aluminium prices. However such a stance seems difficult at the moment given the current market...
Aluminium experts discussed that the aluminium market will balance out in 2015 during the metals market outlook review meeting held on 16th December by Chalco. The meeting was attended by eminent names in the aluminium industry which includes institutions like Commodity Research Unit (CRU), Beijing...
The 32nd International Conference and Exhibition of ICSOBA entitled "New Challenges of Bauxite Alumina & Aluminium Industry and Focus on China” was held from 12th to 15th October 2014 at the Zhengzhou Research Institute of CHALCO, in Zhengzhou, Henan Province, China. The successful event was...
Aluminum Corp. of China (Chalco) expects a full-year loss for 2014 after releasing its financial reports for 3rd quarter ending September. The company registered a loss of 1.29 billion yuan ($210 billion) or a loss of 0.10 yuan per share during the third quarter. That compared with a loss of 1.22...
The government of Yuncheng City, Shanxi Province, is planning to bring the city’s annual aluminum capacity to 2 million tonnes by 2020, local media reported yesterday. Meanwhile, the local government has set a target of bringing the city’s annual alumina capacity to 5 million tonnes, installed...
Aluminum Corp of China Ltd (Chalco) posted a wider net loss of 1.29 billion yuan ($210.99 million) for the July-September quarter due to oversupply in the world's biggest aluminium market. China's biggest producer of primary aluminium and raw material alumina sells its products mainly in its own...
Chalco's Henan Branch delayed the production resumption at its 1,000,000-tonne alumina capacity, Shanghai Metals Market learns. The delay is mainly because the repairing of its red mud pond has not been completed, sources reported. The company closed a total of 1,600,000 tonnes of alumina...
Last week the Chalco alumina refinery located in Henan had closed down due to a broken waste-pool. The refinery had a capacity of 1.6 million tonnes per annum and its closure had a definite effect on the already climbing alumina prices. On Tuesday, Shanghai Metal Market heard reports that 60,000...
Tightening alumina supply is expected to give more rising momentum to China's alumina prices, Shanghai Metals Market foresees. The supply shortfall is due mainly to production suspensions or cuts, SMM learns. Chalco (Henan) has closed down a total of 1.6 million-tpy due to leaks from its red mud...
Reuter reported that an alumina production facility in Henan, owned by the Aluminium Corp of China Ltd (Chalco), closed down earlier this week due to a break in the waste pool as reported by executives from two different aluminum smelters on Thursday. On Tuesday night, the walls of the pool that...
Sun Zhaoxue, a senior executive at Aluminium Corp of China Ltd (Chalco), has resigned according to the company’s statement on Tuesday. The resignation came a day after the declaration that he was under suspicion of corruption by a top anti-graft government agency. Sun Zhaoxue is also the general...
According to Reuter’s report, Rusal Plc, world’s largest aluminium producer is proposing to enter into a joint venture with China’s top aluminum producer to start a project in Russia’s Eastern Siberia, as confessed by the deputy CEO of Rusal on Wednesday. The proposed tie-up between Rusal and...
Aluminum Corporation of China (Chalco) has suspended aluminum expansions in Xinjiang on costly transportation costs, wenhua.com quoted Helen Lau, an analyst at securities company UOB Kay Hian, as saying today. Building smelters in coal-rich Xinjiang can help cut fuel costs, but this advantage has...
Aluminum prices have been on a bullish track in last one month. In the Shanghai market, the average spot price of A00 aluminum ingot gained 7.73% from Jun. 30 to 14,360 yuan per tonne on Aug. 29, according to the data of Shanghai Metals Market. During 1H, domestic aluminum producers were able to...
