Chalco swings to first-half loss

LONDON (MarketWatch) -- The Aluminum Corp. of China, or Chalco, on Monday swung to a first-half loss as prices for the metal it produces slumped. Chalco (HK:2600 9.21, +0.30, +3.37%) (ACH 28.85, -0.53, -1.80%) said it lost 3.52 billion yuan ($515 million) after earning 2.39 billion yuan in the year-earlier period. Revenue fell 29% to 27.98 billion yuan. The company said aluminum-related industries such as construction and automobile manufacturing saw sluggish demand. The company slashed capital spending by 51.1% and isn't paying an interim dividend. U.S.-listed Chalco fell 1% but have more than doubled this year as aluminum prices have bounced off lows. source:www.marketwatch.com