Chinese Quoted aluminum enterprises have deficit or less benefits

Every year in February,quoted companies announce their annual financial fillings one after another.

Lixun,an analyst ,said that Along with the slow economic growth,aluminum prices remained slide from last year,which encumbered the aluminum enterprises’ benefits.

Large quoted aluminum companies such as Chinalco,Zhongfu Industrial,Weastern mining,Mingtri Group experienced adverse trends.

In Chinalco’s announcement,the downturn of aluminum market,the declined aluminum prices,the dropped quality of domestic Bauxite lead to company’s deficit in 2012.It is reported that Chinalco is the second alumina manufacturing,the third electrolytic aluminum manufacturing and the fifth aluminum manufacturing in the world.Zhongfu Industrial,Western mining and Mingtri Group agreed with Chinalco,and they expressed that corporate performance also influenced by weaken economic environment at home and aboard and the continued low demand of aluminum.

 The monitoring statistics show that from 4th,Jan 2012 to 4th ,Jan 2013, the absolute price index of aluminum dropped to 15089yuan/ton from 16026.2yuan/ton,range of a price drop of about 6.2%.

“Aluminum prices remain hovering in low position,especially in the fourth season of last year,the cash price of aluminum dropped incredibly fast.Whether the fundamentals or the macro does not support aluminum market rebound.’the terms of aluminum industry entry(2012) published by the Ministry of Industry aim to promote the harmonious development of aluminum industry.”said by Lixun.