Aluminum Corp. of China (CHALCO), the country’s biggest producer of alumina and primary aluminum, posted profits of $49.4 million during the first half of the year, the highest in almost five years, state run Xinhua news agency said.
The company attributed its excellent performance largely to reduced production costs. Costs of electrolytic aluminum, alumina and electrolytic copper fell 400 yuan, 2,500 yuan and 5,200 yuan per tonne, respectively, Xinhua quoted Yu Dehui, general manager of CHALCO, as saying.
Although prices of the three products dropped year on year during the first half, the company managed to improve profitability.
CHALCO also expanded cooperation with auto producers and builders during the first half to further tap aluminum market opportunities, Yu added.