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"With the further spread of the global financial crisis into industry, Chinalco as a upstream industry player has been severely affected," Chinalco said in a statement.
The company plans to scale down investment and restrict non-production spending, it said, with temporary staff layoffs of 5,513.
The move follows production cuts and price reductions as demand for alumina and aluminium declines.
Earlier this month, listed unit Chalco decided to reduce spot alumina prices by 10.3 pct to 2,600 yuan per ton, the fourth reduction since June.
The company also idled 4.11 mln tons of alumina capacity at refineries in Henan, Shanxi and Shandong provinces as of Nov 5.
The shutdowns follow the temporary closure of 720,000 tons of aluminium smelting capacity from October.
Chinalco said the company will actively seek government support, applying for lower power tariffs and higher export rebates.
(1 usd = 6.83 yuan)
kelly.zang@xfn.com
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