Aluminum Corporation of China (Chalco) posted achieved $5mn in net income in H1 2020, declining by 95pc from H1 2019, because the COVID-19 pandemic put downward pressure on aluminum prices.

 

According to media reports, Chalco’s H2 outlook remains positive as Chinese demand has recovered over the past week. However, the group shut three of its alumina refineries last month due to lower realized prices. 

 

The company’s primary aluminum production slipped by 1.6pc during the first six months of the year to 1.86mn mt from 1.89mn mt during the prior year period. However, its H1 2020 alumina output increased by 5.74pc to 7.2mn mt from 6.8mn mt during the same period last year.

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