Chalco Announces Full Closure at Liancheng Branch-Shanghai Metals Market

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Chalco Announces Full Closure at Liancheng Branch

Company News 09:51:08AM Oct 12, 2015 Source:SMM

SHANGHAI, Oct. 12 (SMM) –Aluminum Corporation of China (Chalco) announced on October 8 that it planns to shut down all the remaining electrolytic cells at its Liancheng branch, cnal.com reported.

The move is aimed at reducing losses and is also in response to severe overcapacity in the industry, the media added, citing Jiang Yinggang, Deputy President at Chalco. Chalco (Liancheng) suffered an accumulative loss of 1.99 billion yuan ($314 million) over the past five years, due mainly to persistent declines in aluminum prices. 

The article is edited by SMM and is provided for information purpose only. SMM assumes no liability and does not warrant the accuracy, reliability or completeness of information contained or quoted in the article, either express or implied. SMM further disclaims any liability for losses in connection with the information contained or quoted in the article.

For news cooperation, please contact us by email:sallyzhang@smm.cn or service.en@smm.cn.


Key Words:  Chalco   Chalco (Liancheng)  

Chalco Announces Full Closure at Liancheng Branch

Company News 09:51:08AM Oct 12, 2015 Source:SMM

SHANGHAI, Oct. 12 (SMM) –Aluminum Corporation of China (Chalco) announced on October 8 that it planns to shut down all the remaining electrolytic cells at its Liancheng branch, cnal.com reported.

The move is aimed at reducing losses and is also in response to severe overcapacity in the industry, the media added, citing Jiang Yinggang, Deputy President at Chalco. Chalco (Liancheng) suffered an accumulative loss of 1.99 billion yuan ($314 million) over the past five years, due mainly to persistent declines in aluminum prices. 

The article is edited by SMM and is provided for information purpose only. SMM assumes no liability and does not warrant the accuracy, reliability or completeness of information contained or quoted in the article, either express or implied. SMM further disclaims any liability for losses in connection with the information contained or quoted in the article.

For news cooperation, please contact us by email:sallyzhang@smm.cn or service.en@smm.cn.


Key Words:  Chalco   Chalco (Liancheng)