Chalco Reports 95% Shrinkage in Profit in H1 of 2020

Aluminium Corporation of China said that it profits in the first half of 2020 fell to CNY 35.7, down by 95% YoY from CNY 707.4 due to lower aluminium and alumina prices. Overall first-half revenue fell 11.5% to CNY 84.1 billion as Shanghai aluminium prices averaged 4.3% lower YoY at CNY 13,191 a tonne In terms of production, Chalco said first-half primary aluminium output was 1.86 million tonnes. That was down slightly from 1.89 million tonnes reported a year earlier. Meanwhile, Chalco's production of alumina rose 5.74% in the first half to 7.2-million tonnes. The company shut down three alumina production lines in July due to low prices.