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Chalco warns Q3 net profit down over 50 pct

Mon Oct 6, 2008 6:58am EDT

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HONG KONG, Oct 6 (Reuters) - Aluminum Corp of China (2600.HK) (Chalco) warned on Monday that its third quarter net profit will slide by more than 50 percent due to rising raw material and fuel costs, and falling aluminium prices.

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Chalco blamed the U.S. sub-prime mortgage crisis and the global economic environment, it said in a statement.

The forecast was made under Chinese accounting standards.

For a full statement, please click here (Reporting by Alison Leung; editing by John Stonestreet)

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