Aluminum Corp of China (NYSE: ACH): Ride China's Economic and Commodities Boom

Aluminum Corp of China, Ltd (NYSE: ACH), or Chalco, is China's largest producer of primary aluminum (third largest in the world) and the world's second largest producer of alumina.

A subsidiary of Aluminum Corp of China recently signed an agreement with a Vietnamese company, TKV, to build an alumina plant there with annual production capacity of 600,000 tons as Chalco seeks to strategically expand its operations.

China's largest aluminum producers recently agreed to cut production at least through September because of a power shortage.

Aluminum Corp of China's revenues and net income have grown significantly the past few years reflecting the rapid growth of the Chinese economy. The Company reported revenues of $76.2 billion for the full year 2007, up 101.6% from $37.8 billion in 2005. Net income for the full year 2007 was $9.9 billion, an increase of 37.5% from $7.2 billion in 2005.

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