Liaoning Province-based Chinese steelmaker Anshan Iron and Steel Co., Ltd has announced that it expects to register a net loss of RMB 3.257 billion ($0.46 billion) for 2023, shifting from a net profit of RMB 108 million ($15.2 million) in the previous year.
The company stated that continuous slack demand from downstream users and relatively low steel prices exerted a negative impact on its operating performance in 2023.