Chalco reports 2012 loss

Miner and manufacturer Aluminium Corp of China (ACH.NYSE, 601600.SH, 2600.HKG), otherwise known as Chalco, reported a loss in 2012 on declining prices and increased costs for alumina, a component of aluminium, Bloomberg reported. China’s largest aluminum producer said in a Shanghai stock exchange filing it suffered a “substantial” loss by year ended December 31, without disclosing concrete numbers. This compares to a net profit of US$38.2 million (RMB238 million) in 2011. Chalco usually reports full financial results in March. Aluminium prices fell 7% in 2012, while a lower supply of bauxite, a component of production, led to a 4% hike in the costs for making alumina, said Chalco.