Sichuan Province-based Chinese steelmaker Pangang Group Steel Vanadium & Titanium Co. (Pangang Vanadium & Titanium) has announced in its preliminary financial report for 2016 that it expects to record a net loss in the range of RMB 6.0-6.3 billion ($0.87-0.92 billion) for the given year, compared to the net loss of RMB 2.20736 billion recorded in 2015.
Pangang Vanadium & Titanium stated that slowing economic growth in China and disposal of company assets caused it to continue to record a loss in 2016.