ACH - Aluminum Corp. of China's 2021 net profit jumps to 14-year high

Aluminum Corp. of China (ACH +2.6%) reports its FY 2021 net income soared more than six-fold to its best performance in 14 years, thanks to rising alumina and aluminum prices as well as higher production. Chalco's full-year net profit totaled 5.08B yuan ($798.6M), the company said in a filing to the Shanghai Stock Exchange, while revenue rose 45% Y/Y to 269.7B yuan, as its average global alumina price rose 22%. The world's top producer of alumina said its output of the feedstock rose 11.7% Y/Y in 2021 to 16.23M metric tons, while its aluminum production rose 4.6% to 3.86M tons. For Q4, Chalco reported a net loss of 227.9M yuan, compared with net income of 2.2B yuan in Q3, weighed by the Chinese government's efforts to cut carbon emissions, with aluminum makers suffering a power crunch and forced to cut production. Global aluminum prices, already reaching record highs, have continued

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Aluminum Corp. of China's 2021 net profit jumps to 14-year high