Chalco Swings to Quarterly Loss; First-Half Remains Unprofitable
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Aluminum Corp. of China Ltd., the nation’s biggest producer of the lightweight metal, swung to a loss in the first quarter and said it may be unprofitable in the first half because of weak prices and higher fuel costs.
Net loss was 1.09 billion yuan ($173 million), compared with a profit of 331.2 million yuan a year earlier, the Beijing-based company said today in a statement to the Shanghai stock exchange. Sales climbed 19 percent to 33.6 billion yuan.