Chalco sees H1 loss on low demand, prices

Aluminum Corp of China Ltd (Chalco) said late on Sunday it expected to see a loss in the first half of 2009 due to low aluminum demand and prices on the back of the financial crisis.

The company said its utilisation rate was low while international and domestic demand for aluminum from the property and automobile industries had decreased significantly.

It posted a 2.41 billion yuan ($352.8 million) profit in the first half of 2008, based on Chinese accounting standards.

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