Henan Zhongfu widens loss in H1 on lower aluminium prices

Leading Chinese aluminium maker Henan Zhongfu Industrial Co. widened loss in this year’s first half on lower prices of the lightweight metal.

Henan Zhongfu made a loss of 197.4 million yuan ($32 million) from January to June, comparing to a loss of 43 million yuan a year ago, the company told Shanghai Stock Exchange today.

In the first half, ``domestic economic growth notably slowed from past years, aluminium prices continued to hover low, primary metal producers were largely in operating losses…’’Henan Zhongfu said.

Still, ``growth potential for downstream demand remains, while the government endeavors to dissolve aluminium’s overcapacity,’’ it added.

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