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Non-ferrous metal giant’s financial losses linked to overcapacity ALUMINUM Corp.of China Ltd.(CHALCO),the country’s largest aluminum producer,shocked investors again by posting losses of 1.85 billion yuan($301.3 million),according to the company’s third-quarter financial report released on October 30.This is the second year CHALCO has suffered a loss.Wang Yong,an analyst with CITIC Securities Co.Ltd.,said overcapacity and low prices were CHALCO’s biggest enemies.The company recorded losses of 8.23 billion yuan($1.34 billion)in 2012.
Non-ferrous metal giant’s financial losses linked to overcapacity ALUMINUM Corp. of China Ltd. (CHALCO), the country’s largest aluminum producer, shocked investors again by posting losses of 1.85 billion yuan ($ 301.3 million), according to the company’s third-quarter financial report released on October 30.This is the second year CHALCO has suffered a loss. Wang Yong, an analyst with CITIC Securities Co. Ltd., said overcapacity and low prices were CHALCO’s biggest enemies. The company recorded losses of 8.23 billion yuan ($ 1.34 billion) in 2012.