Henan Province-based Chinese steelmaker Anyang Iron and Steel Co. (Anyang Steel) has issued its financial results for the first quarter of the current year, announcing an operating revenue of RMB 5.726 billion ($0.92 billion), down 11.14 percent year on year, and a net loss of RMB 103 million ($16.6 million), decreasing by 381.34 percent year on year.
Although Anyang Steel plans to restrict its costs, it is expected that in the January-June period of the current year the company will still register a net loss as finished steel prices have been indicating greater decreases compared to raw material prices.