Market Intelligence Center  Feb 2  Comment 
Aluminum Corp of China (ACH) presents a trading opportunity that offers a 8.70% return in just 200 days. A covered call on Aluminum Corporation of China at the $11.00 level expiring on Aug. '15 offers an assigned return rate of 8.70% or 15.87%...
Automotive World  Oct 24  Comment 
The curtain is finally coming down on Automotive Components Holdings as Ford gears up to close the company's last plant in December. The post Ford completes ACH strategy by closing down last remaining plant appeared first on Automotive World.
Mondo Visione  Oct 23  Comment 
The U.S. Commodity Futures Trading Commission’s (Commission) Division of Swap Dealer and Intermediary Oversight today issued an interpretation of Commission Regulations 1.22, 22.2 and 30.7 providing that a futures commission merchant (FCM)...
Benzinga  Sep 3  Comment 
Infinity Pharmaceuticals (NASDAQ: INFI) shares moved up 44.23% to $15.75. The volume of Infinity Pharmaceuticals shares traded was 4134% higher than normal. Infinity Pharma surged on deal with AbbVie (NYSE: ABBV). Tetraphase Pharmaceuticals...
Clusterstock  Aug 20  Comment 
You know how, when you when you send money to someone else's bank account, the funds aren't available right away? It turns out that the U.S. is one of the last developed countries to have this problem. And while regulators and some financial...
Mondo Visione  Aug 11  Comment 
Hong Kong Futures Exchange Limited (HKFE), a wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited (HKEx), has announced that with effect from the commencement of trading on Wednesday, 13 August 2014, the minimum margins to be...
Benzinga  Aug 6  Comment 
Enphase Energy (NASDAQ: ENPH) shares moved up 21.73% to $11.81. The volume of Enphase Energy shares traded was 749% higher than normal. Enphase Energy reported a Q2 loss of $0.01 per share. Aluminum Corporation Of China (NYSE: ACH) surged 6.79%...
TechCrunch  Jun 18  Comment 
 Payments network Dwolla has been trying to change how money is moved around electronically, with services meant to replace traditional bank technologies, such as the days-long process of ACH transfers. But today’s announcement of a new service...
Cloud Computing  Jun 10  Comment 
Quadrant Software LLC., a leading provider of document output management (cloud, FoIP) and spool file beautification tools, has announced the latest version of Formtastic, their automatic IBM i spool file beautification and...
Forbes  Jun 5  Comment 
Zipmark combines Check 21 and nonreversible ACH with email and its Web site to speed business payments.


Aluminum Corporation of China, Ltd. (Chalco), incorporated as a joint stock limited company in the People's Republic of China in 2001 and headquartered in Beijing, is the main producer of alumina and the largest producer of primary aluminum in terms of production and sales in China. Chinalco, a state-owned enterprise, currently owns 40.46% of Chalco's issued share capital, and it is Chalco's largest shareholder. As of September, 2007, the company's assets totaled approximately $10.7 billion and are expected to continue to grow rapidly.

Chalco organizes and manages its operations mainly through the following two business segments: Alumina and Primary Aluminum. External sales of the Alumina and Primary Aluminum segments accounted for approximately 44.3% and 54.5%, respectively, of Chalco's total 2006 revenue. Revenues from Primary Aluminum segments are expected to contribute larger ratio of the company's revenue.

Chalco sells a small portion of the alumina it produces to its own primary aluminum smelters and a majority to external customers, mainly smelters throughout China. In 2006, Chalco produced 8.83 million tons of alumina products, and that amount accounted for about 64.5% of all alumina products produced in China, making Chalco the second-largest producer of alumina in the world. The company's alumina production has grown about 14.6% per year from 2001 to 2006.

Primary aluminum is a widely used metal and the key raw material for aluminum fabrication. Chalco sells most of its primary aluminum products to China's customers, and transports most of its primary aluminum products by rail. Chalco's primary aluminum production was 1.93 million ton in 2006, and that amount accounted for 20.6% of all primary aluminum products produced in China, making Chalco the fourth-largest producer of alumina in the world. The company's primary aluminum production has grown about 27.4% per year from 2001 to 2006.

Currently its stock price in China's A share market is around 130% higher than that of Hong Kong's H share market. As the Chinese government lets Chinese investors invest in overseas market, it is expected that price of a company in different markets will converge in the future.

Chalco announced strong financial results for the first three quarters of 2007 mainly due to production increases of primary aluminum products. However, its profit margins declined in the third quarter due to a slip in aluminum and alumina prices. The company should continue to benefit from strong alumina and aluminum demand in China, as the company has the best balanced value chain of aluminum industry in China. Moreover, it plans to continue to increase its production capacity aggressively. Chalco has finished six aluminum acquisitions since March 2006, and three offshore alumina projects are on the right track. In addition, Chalco pays very generous dividend. Given its overall positive prospects, we are maintaining our Buy recommendation on Chalco shares.


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