On October 27, China Aluminum Corporation, China's leading nonferrous metals company, released its third-quarter 2020 report. In the first three quarters of this year, China Aluminum’s operating revenue totaled 133.155 billion yuan, a decrease of 8.69% compared to the same period last year. Net profit attributable to shareholders of the listed company came in at 452 million yuan, down 44.31% year-on-year.

　　It is worth noting that, according to the report, China Aluminum Industry achieved a net profit of 719 million yuan in the third quarter alone, representing a year-on-year increase of 1.46 times and a quarter-on-quarter increase of 6.49 times. In addition, China Aluminum Industry’s net profit attributable to shareholders after deducting non-recurring items for the first three quarters totaled 138 million yuan, up 44.97% year-on-year.

　　Looking at the production and sales data for our key products, in the first nine months, Chinalco produced 10.74 million tons of alumina, an increase of 4.99% year-on-year. Of this total, 5.47 million tons of self-produced alumina were sold externally, a decrease of 1.62% year-on-year. The average selling price of externally sold, self-produced alumina was 2,447 yuan per ton, down 11.98% year-on-year.

　　In the first nine months, primary aluminum production totaled 2.76 million tons, down 2.82% year-on-year; exports of domestically produced primary aluminum reached 2.78 million tons, with an average sales price of 13,644 yuan per ton, a decrease of 2.25% year-on-year. Coal production amounted to 8.34 million tons, up 3.86% year-on-year; power generation (excluding self-owned power plants) totaled 10.3 billion kWh, down 11.96% year-on-year.

　　Since the beginning of this year, affected by the COVID-19 pandemic, market prices plummeted sharply in the first quarter. China Aluminum Corporation stated that the company has continued to implement a series of measures—including deepening cost reductions and conducting comprehensive benchmarking against industry standards—to tap into internal potential and enhance quality and efficiency. In particular, by expanding domestic self-mined ore supply and comprehensively optimizing and upgrading production technology indicators, the company has reduced the costs of its core products—alumina and primary aluminum—by 7.83% and 5.82%, respectively, compared with the same period last year. These cost reductions have effectively offset the impact of lower prices on profitability.

　　Meanwhile, in the first three quarters of this year, Chinalco accelerated the advancement of key projects to enhance its “blood-creating” capabilities. A number of major projects—including the Boffa bauxite mine in Guinea, the HuaSheng alumina plant in Guangxi, and the Wenshan hydropower-to-aluminum project in Yunnan—have been put into operation one after another. Chinalco stated that the progress of these projects is beginning to yield tangible results in the company’s industrial restructuring, creating new growth drivers and helping to further consolidate its position as an industry leader, enhance its profitability, and strengthen its capacity for sustainable development.

　　Chinalco is the leading enterprise in China’s nonferrous metals industry, ranking among the world’s top companies in terms of overall strength in the aluminum sector. Currently, it is a large-scale aluminum production and operation company in China that integrates the entire aluminum value chain—from mining resources such as bauxite and coal to the production, sales, technological R&D, international trade, logistics, and thermal and new-energy power generation of alumina, primary aluminum, and aluminum alloy products.

　　China Aluminum’s development goal is to become a globally competitive, world-class aluminum company. The company ranks first globally in alumina production capacity, second globally in primary aluminum production capacity, first globally in carbon production capacity, and first globally in fine alumina production capacity.

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