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Aluminum three quarters of losses prior to China frequently transfers assets 1,8

Update:2014-03-15 08:37:11Clicks:860Secondary

Involvement in the continuing weakness in the price of aluminum fell , industry bad dilemma , non-ferrous metals giant China Aluminum losses 1.8 billion yuan the first three quarters , frequently tried to avoid selling assets was a loss for two consecutive years ending ST .

October 30 evening, China Aluminum three quarterly publication in 2013 , achieved operating income of Aluminum Corporation of China in the first three quarters of 122.063 billion yuan , an increase of 12.16% ; attributable to shareholders of listed companies net profit of -18.46 billion yuan, up 24.89 reduced losses billion.

Financial data, from a single quarter , China's Chalco a quarterly loss 919 million yuan , 113 million yuan year on year reduction in losses in the second quarter profit 245 million yuan , the magnitude of reduction in losses further. But in the third quarter and losses widened to 1.29 billion yuan , 1.085 billion yuan of losses compared to the same period last year, more than the 205 million yuan .

Huatai Securities , said researcher Lu Bing Ran , China Aluminum third quarter loss increased mainly due to decline in aluminum prices . Due to the weak foundation of the domestic economic recovery , the supply -side aluminum industry overcapacity is still serious. It believes that the current supply and demand factors do not support two aluminum upward.

Aluminum overcapacity, falling prices , the market downturn with a heavy blow to the Chinese aluminum industry . 2012 China Aluminum huge loss of 8.234 billion yuan . In order to avoid the unfavorable situation in 2013 full-year loss again , from the first half of 2013 China Aluminum began selling a portion of its less profitable assets to obtain investment income . Into the third quarter , China Aluminum further increased the pace of asset sales to full-year losses. Behind the China Aluminum transfer of assets , more involved in the world's largest iron ore at present .

Oct. 19 announcement that Chalco Hong Kong will be officially transferred 65% stake in the aluminum ore , the transaction price will reach $ 2.067 billion . It is expected that the above equity transfer amount after the deduction of debt , Aluminum Corporation of China is expected to have investment income of about 50 billion yuan.

May 2013 , China had concentrated sale of its eight aluminum aluminum processing enterprise corresponding equity valuation of the subject matter to achieve a total of nearly 80 million, then China 's Henan Aluminum and sale of aluminum and metal near Qingdao 17.56 claims billion .

Analysis of the industry , the main pattern of excess supply has not improved , and consumption is not expected , but money is tight right to the good form of consumption suppressed, aluminum ingot prices in the fourth quarter is difficult to be optimistic. Both in terms of supply and demand , the price of aluminum will still cost line oscillations in the vicinity of the industry . Because the cost of new production capacity is relatively low , there is a slow down in the space industry average cost . In the case of weak demand , aluminum prices slow down the possibility still exists .

Currently, due to the improved aluminum overcapacity Humpty aluminum in the doldrums, and are likely to fall further after the sale price down , including China , including Alcoa aluminum profitability is difficult to get a glimpse .