DJ Chinalco Pres: Aluminum Industry Lossmaking In China

Aluminum Corp. of China president Xiao Yaqing Thursday said the aluminum industry in China is unable to turn a profit because costs are higher than prices for the commodity.

"Production of primary aluminum is till lossmaking now," Xiao said during an analyst presentation.

Xiao said costs were 13,000 yuan ($1,902) a metric ton while the price was below RMB12,000.

Chinalco is China's biggest aluminum producer and the largest shareholder in Anglo-Australian miner Rio Tinto PLC (RTP).

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