Chinalco: Cost Higher Than Sales Price

(China Aluminum Network) Affected by the rising of power price and labour cost electrolytic aluminium production cost in China higher than average international cost. China electrolytic aluminium industry has enter into marginal benefit age.

As the biggest electrolytic aluminium manufacturing enterprise Chinalco happened huge losses in last fourth quarter.

In terms of decline in performance Chinalco stated that since affected by European debt crisis and global economic environment aluminum prices dropped largely. The rising of power price also enhance company’s stress in production cost. Thus, the company loss in the last fourth quarter and influenced whole year profits.

The price of electrolytic aluminium dropped 6% in China last fourth quarter. It is learned that many overseas aluminum smelters began to cut production during last fourth quarter.

Lin Haoxiang held that domestic large enterprises did not emerged such phenomenon but the decline in production indicated some small enterprises may has begun cut production. Chinalco may appeared more serious losses in the first quarter.

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