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China Daily Website

Chalco's investment yields reduced H1 net loss

Updated: 2013-09-02 16:46
By WU YIYAO in Shanghai ( chinadaily.com.cn)

Shanghai-listed Aluminum Corp of China Ltd (Chalco), the country's top aluminum producer, posted a first-half net loss of 623.8 million yuan ($101.9 million), an 80.82 percent year-on-year decrease.

In the first half of 2012 Chalco's net loss was 3.25 billion yuan.

The report said the net loss was due to lower prices and oversupply for the world's top producer and consumer of the metal.

Chalco's yield from investments in the first half of 2013 was 1.75 billion yuan. Analysts said the yield from investments contributed to Chalco's shrinking net loss amid difficult market conditions, and the aluminum producer may see a net profit by the end of 2013.