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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China Customs data show that China imported 26.72 million metric ton of bauxite during January-May. SMM data indicate that Shandong Weiqiao Pioneering Group alone accounts for 51% of total imports. Domestic alumina producers reliant on imported bauxite include Shandong Weiqiao Pioneering Group,...
The company is selling its stakes in the following businesses: Chalco Henan Aluminium Fabrication in Luoyang (86.84%); Chalco Southwest Aluminium Sheet/Strip Co of Chongqing (60%); Chalco Southwest Aluminium Cold Rolling Co of Chongqing (100%); Huaxi Aluminium Co in Chendu (56.86%); Chalco Ruimin...
China Customs data show that China imported 200,000 mt of alumina in May, down 72% YoY and 38% MoM. YTD imports through May totaled 1.56 million mt, also a drop of 28% from the same period last year. SMM attributes the sharp decline in alumina imports to domestic aluminum smelters cutting...
Moving to halt losses in its mainstream operations, Aluminum Corp of China (2600) is to sell all of its remaining aluminum-fabrication interests to its parent firm, Chinalco, for 3.24 billion yuan (HK$4.10 billion). The eight plants, of which only one was profitable last year, accounted for over 1...
Aluminium rallied to the highest level in more than two months amid signs that smelters were finally beginning to respond to low prices by shuttering production capacity in scale. On Wednesday, Chalco, the Chinese state aluminium giant that is one of the world’s top producers of the metal,...
Chalco, China's top producer of aluminum, joined other companies on Wednesday in cutting capacity to help trim a market surplus after it suffered losses due to weak prices. The Aluminum Corp of China Ltd said in a statement it would temporarily close 380,000 tons of annual capacity due to market...
According to the ADP National Employment Report, 135,000 jobs were added in US private sectors in May, well below the 165,000 forecast. This kept investors cautious about non-farm employment due to the released tomorrow. US factory orders increased 1.0% MoM in April, also missing expectations. On...
On May 30th, five departments of the State Council held a symposium with fifteen aluminum smelters including Chalco. According to a source with knowledge of the symposium, the meeting involves capacity control, setting up funds to subsidize aluminum producers that pull capacity out of central and...
The Aluminium Corporation of China (Chalco) recorded losses of RMB975 million for Q1 2013 and attributes its performance to stunted economic growth, over capacity and falling prices. Last year, the company reported deficits of RMB8.2 billion. Other Chinese aluminium producers offered similarly...
Russian aluminum producer United Co. Rusal PLC and Aluminum Corp. of China Ltd. ( Aluminum Corporation of China Limited), or Chalco, will decide in late June the outcome of a joint-venture accord to consider cooperation on four projects in the aluminum sector, Rusal's deputy chief executive, Oleg...
Aluminum Corporation of China Limited (Chalco), the country's biggest aluminum producer by output, announced plans recently to sell its aluminum processing assets, a development which underlines the industry's vexing overcapacity problems, analysts said Tuesday. Chalco intends to transfer stakes in...
Chalco to Sell Stakes at Eight Aluminum Processing Subsidiaries The Aluminum Corporation of China (Chalco)’s aluminum processing business has the smallest gross margins and is the one of the major reasons behind its losses. As such, Chalco has decided to sell stakes at its eight aluminum processing...
Aluminum Corp. of China Ltd., the nation’s biggest producer of the lightweight metal, said it will sell about 8.18 billion yuan ($1.3 billion) of assets, including production plants, mainly to its parent. The Beijing-based company, called Chalco, also plans to sell $1 billion of perpetual bonds...
The Ministry of Land and Resources announced Chalco (Guizhou) has obtained mining rights to Maochang bauxite mine. Chalco (Guizhou) is located in Guiyang’s Baiyun District, 22 km from Qingzhen city. MLR data show that close to 300 million mt in proven bauxite reserves have been discovered in...
Shares in Shandong Nanshan Aluminum, one of China’s largest non-government-controlled makers of aluminum products, on Friday bounced back from a three-and-a-half year closing low on hopes that China’s economic growth will pick up later this year. The company fell on Thursday after it said net...
Aluminum Corp. of China Ltd.'s first-quarter net loss was worse than expected because of high raw-material costs and weak aluminum prices, which could continue to prevent Chalco from returning to profit. Chalco, which has been grappling with falling demand for aluminum products since the 2008...
While China might be cutting back its aluminium production by 700kt this year, according to a report in the South China Morning Post, the country is eclipsing the cut-backs by adding an estimated 4Mt of new capacity. As the global industry braces itself for more market surpluses and Chinese...
According to the Aluminum Corporation of China’s annual report, China’s primary aluminum output will likely increase to 24.1 million mt in 2013. Chalco notes that most aluminum producers in China suffered losses last year due to aluminum overcapacity and depressing aluminum prices . Many aluminum...
