Chalco incurs net loss of RMB1.85 bln in Q1-3
BEIJING, Oct. 30 (Xinhua) -- China's largest aluminum producer Aluminum Corp. of China Ltd, or Chalco (601600.SH; ACH.NYSE; 02600.HK) said on Wednesday that it suffered a net loss of about 1.85 billion yuan in the first three quarters of 2013, much lower than the loss of 4.34 billion yuan in the same period of last year.
According to a filing to the stock exchange, its operating revenue during the period was up 12.16 percent year on year to about 122 billion yuan.
In the face of a slowdown in domestic economic growth and excessive capacity in aluminum industry, Chalco launched a series of market-oriented reform polices to resolve operational problems. Production costs of alumina and aluminum had declined 8.95 percent and 5.73 percent year on year, respectively, said the filing. (Edited by Hu Pingchao, firstname.lastname@example.org)