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Chalco’s 3d-qtr. net loss widens

Keywords: Tags  Aluminum Corp. of China, Chalco, aluminum, quarterly earnings, Wang Rong, Guotai Junan Futures, China National Bureau of Statistics

SHANGHAI — Aluminum Corp. of China Ltd. (Chalco) saw its net loss widen in the third quarter, due in part to oversupply and low aluminum prices depressing the domestic market.

China’s biggest aluminum smelter posted a net loss of 1.29 billion yuan ($210 million) for the three months ended Sept. 30, up from a net loss of 1.09 billion yuan a year earlier.

"The company is likely to post a second straight full-year loss," Wang Rong, Shanghai-based aluminum analyst at Guotai Junan Futures, said.

Aluminum output totaled 14.24 million tonnes in the first eight months of the year, up 6.8 percent from the same period last year, according to data from China’s National Bureau of Statistics.

A version of this article was first published in AMM sister publication Metal Bulletin.

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