Aluminum Corporation of China's (Chalco) common stock price has declined significantly since we downgraded the common stock in our company news alert dated 27 October 2009, which we believe reflects rising investor fears of a double dip in the global economic recovery, as China signals for monetary tightening which can dampen recovery in commodity demand. As our fundamental outlook remains unchanged, we believe the stock's downside potential is exhausted…

Aluminum Corporation of China (Chalco) announced its 3Q 09 results on 27 October 2009. While revenues experienced a moderate decline due to lower realized prices on aluminum sales, falling input costs and company’s cost saving efforts improved earnings during the quarter. As the results are broadly in line with our expectations, our fundamental outlook for the company remains unchanged. However, considering the increase in common stock price since…

Aluminum Corporation of China (Chalco) reported a steep fall in revenue while incurring huge losses in 1H 09 as aluminum prices halved compared to 1H 08. Given the dismal 1H 09 performance and significant increase in the common stock price from our last update, we continue to view the stock as overvalued at current price levels. Thus we maintain our SELL rating for the Chalco common stock. We will reassess our rating and target price in our next update report....