Chongqing-based Chinese steel producer Chongqing Iron & Steel Co. (Chongqing Steel) has announced an operating revenue of RMB 3.685 billion ($0.54 billion) for the January-September period of the current year, down 45.18 percent year on year, with a net loss of RMB 3.091 billion ($0.46 billion) compared to the net loss of RMB 3.2 billion recorded in the same period of 2015.
Chongqing Steel stated that it expects to record a loss for the whole of 2016 given the loss of any significant improvement in China’s domestic finished steel market.