Xinjiang Autonomous Region-based Chinese steelmaker Bayi Iron and Steel Group (Bayi Steel) has an operating revenue of RMB 3.672 billion ($0.55 billion) for the first half of the current year, down 39.33 percent year on year, with a net loss of RMB 314 million ($47.01 million) compared to a net loss of RMB 811 million in the same period of 2015.
In the first half this year, Bayi Steel produced 1.71 million mt of crude steel and 1.63 million mt of finished steel, down 33.20 percent and 37.31 percent year on year, respectively.