Aluminum Corporation of China (Chalco; ACH.NYSE, 601600.SH, 2600.HK) recorded a net profit drop of 47% in the first quarter of 2010 due to rising electricity and commodities prices, Reuters reported. The firm recorded US$51 million in profits for the first quarter of 2011, down from US$96 million for the same period in 2010 and lower than forecast by BNP Paribas (BNP.Euronext). Benchmark LME aluminium CMAL3 prices rose 6% in the first quarter, but rising electricity and raw material prices cut into Chalco’s profit margins. Beijing has repeatedly attempted to slow the construction of new aluminium smelting facilities, with mixed results. Analysts worry that further monetary tightening by Beijing could dampen demand for aluminium. Chalco’s Hong Kong shares are up 7% for the year, outpacing the Hang Seng Index.