China-based Chalco group’s alumina output rose to 14.53mn mt, up by 5.29pc from a year ago In 2020, while electrolytic aluminium production declined by 2.64pc to 3.69mn mt.
In 2020, Chalco’s alumina output rose to 14.53mn mt, up by 5.29pc from a year ago, while electrolytic aluminium production declined by 2.64pc to 3.69mn mt. The company’s coal production increased by 3.8pc to 11.2mn mt from the prior year.
Chalco’s operating income fell to CNY186bn, down by 2pc from 2019 due to a reduction in trade caused by the spread of the COVID-19 pandemic. The company’s net profit in 2020 declined by 13pc from 2019 to CNY741mn ($113.62mn) due to net impairments of CNY1.41bn, which includes CNY979mn towards bad debt to customers and CNY433mn for writing-off 135,000mt per annum smelting capacity at Shandong.
Segment-wise, the group’s alumina operating income fell by 3.5pc to CNY42.38bn from the prior year due to lower alumina prices but pre-tax profit from the segment rose by CNY582mn to CNY1.427bn due to cost reduction and improve efficiencies.
Primary aluminium plate’s operating income increase by CNY2.8bn to CNY 51.889bn from the prior year due to the rise in primary aluminium price. Pre-tax profit of primary aluminium segment rose by CNY1.3bn to CNY2.023bn from a year ago.