Chalco sheds 3.6 pct after warning of H1 loss

Published: 26 Jul 2009 21:25:35 PST

HONG KONG, July 27 (Reuters) - Aluminum Corp of China Ltd (Chalco) (2600.HK) slid in Monday morning trade after the world's No.3 alumina producer warned of a loss in the first half of 2009 due to low aluminum demand and prices.

The stock was down 3.6 percent at HK$8.50 by 0205 GMT.

The company said its utilisation rate was low while international and domestic demand for aluminum from the property and automobile industries fell significantly on the back of the financial crisis.

It posted a 2.41 billion yuan ($352.8 million) profit in the first half of 2008, based on Chinese accounting standards.

(US$1=HK$7.75)

(Reporting by Parvathy Ullatil; Editing by Jonathan Hopfner)