China's Chalco warns snowstorms walloped H1 profit

HONG KONG, June 20 (Reuters) - Aluminum Corp of China (2600.HK) warned on Friday that its first-half net profit will slide by at least 50 percent, succumbing to mounting production costs and falling prices for its main product, alumina.

The firm known as Chalco blamed power supply and production disruptions because of crippling snowstorms in January, as well as the rise of fuel and raw material costs, for the slippage. Analysts say supply of alumina -- used in the production of aluminium -- was swelling nationwide and dampening prices.

The forecast was made under Chinese accounting standards.

For a full statement, please click here (Reporting by Alison Leung; Editing by Anne Marie Roantree)