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Chalco reports losses in 2009 on low product prices
(Xinhua)
Updated: 2010-03-29 11:42
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BEIJING: The Aluminum Corporation of China Limited (Chalco), the country's top aluminium producer, reported losses in 2009 as average prices of its major products were lower compared to a year ago.
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The report did not say how much the average prices of its major products dropped, but said the "price plummet has posed unprecedented pressure and challenges" to the production and operation of the company.
Business revenue was 70.27 billion yuan, down 8.42 percent compared to a year ago.
The Aluminum Corporation of China is Chalco's largest shareholder. It holds a 38.56 percent share of Chalco.
