Too Much Metal.docVIP

Too Much Metal 　　Aluminum Corp. of China Ltd. （CHALCO）， the country’s largest alumina producer， shocked investors again by posting losses of 1.85 billion yuan （$301.3 million）， according to the company’s third-quarter financial report released on October 30. This is the second year CHALCO has suffered a loss. 　　Wang Yong， an analyst with CITIC Securities Co. Ltd.， said overcapacity and low prices were CHALCO’s biggest enemies. The company recorded losses of 8.23 billion yuan （$1.34 billion） in 2012. 　　After the global financial crisis， China’s non-ferrous metals industry saw impressive growt