China: China's Chalco says profit down 99% in 2008, expecting loss in Q1 this year.

Section: General News - Aluminum Corporation of China Ltd. (Chalco) reported a 99.9 percent plunge in full-year net profit to 9.2 million yuan (1.35 million U.S. dollars) in 2008 due to product price fluctuations on the international market, the company's annual report revealed Monday.

"The company suffered major losses from the snowstorm at the beginning of last year, and the earthquake disaster," said the statement.

The shock from the financial crisis rises in raw material prices and consecutive plunges of finished product prices had posted "unprecedented difficulties and challenges" for the company, said the statement.

Chalco's business turnover …