On October 29, Anhui Province-based Chinese steelmaker Maanshan Iron and Steel Co. Ltd (Masteel) announced its results for the first nine months of the current year. Accordingly, Masteel's operating revenues for the period in question amounted to RMB 44.433 billion ($7.24 billion), down 21.21 percent year on year, while it registered a net loss of RMB 326 million ($53.09 million), compared to a net loss of RMB 329 million in the same period last year.
In the first nine months this year, Masteel produced 13.39 million mt of pig iron, 14.02 million mt of crude steel and 13.60 million mt of finished steel, down 1.19 percent, up 1.35 percent and increasing by 1.83 percent year on year.