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.
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