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Chinalco books 330M yuan profit in H1'16

, orChinalco, the parent of AluminumCorp. of China Ltd., or Chalco, booked an operating profit of 330million Chinese yuan for the first half, which is the group's best first-halfperformance for five years, the State-owned Assets Supervision andAdministration Commission said in a July 11 statement.

The profitimprovement was attributed to a reduction in costs, said the statement, whichwas posted on the commission's Weibo social media page.

Chinalco'saverage production costs per tonne of electrolytic aluminum, alumina and coppercathode dropped by 400 yuan, 2,500 yuan and 5,200 yuan, respectively, in thesix months ended June 30, according to the commission.

As of July 11, US$1 wasequivalent to 6.69 Chinese yuan.