SMM Metals Reports

Chalco Turns Losses into Profits in 2013 on Cost Reduction, Asset Optimization

SHANGHAI, Jan. 13 (SMM) – Aluminium Corporation of China (Chalco) is expected to turn losses into profits for the full year of 2013, thanks to its cost reduction and asset optimization efforts.
The company is expected to record a net profit of approximately 1 billion yuan ($164 million), as compared to a loss of 8.23 billion yuan a year ago, it told both Hong Kong and Shanghai stock exchanges over the weekend.
Chalco’s manufacturing costs of alumina products decreased by approximately 9% year-on-year and those of electrolysis aluminium products dropped by 5% year-on-year, it said in the exchange filing.

source:http://www.metal.com/newscontent/56601_chalco-turns-losses-into-profits-in-2013-on-cost-reduction-asset-optimization

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