Chinalcoa swings back to profit in Q3

Aluminum Corporation of China (Chinalcoa), the country's largest metal producer, swung back into the black in the third quarter on rising sales and higher margins, the Beijing-based company said on Wednesday. Chinalcoa's net profit reached 555 million yuan (87.46 million U.S. dollars) in the third quarter, compared with a net loss of 117.8 million yuan a year earlier, according to Chinalcoa's statement filed with the Shanghai Stock Exchange. Chinalcoa's net profit for the first nine months stood at 967.57 million yuan, the company said. The share price of Chinalcoa rose more than 2 percent in morning trading in Shanghai and jumped more than 5 percent in Hong Kong.