Beijing-based Chinese steelmaker Shougang Iron and Steel Co. has announced an estimated net loss of RMB 200-300 million ($32.26-48.39 million) for the first half of the current year, with a net loss per share of RMB 0.0378-0.0567 ($0.006-0.009).
Shougang stated that the net loss mainly resulted from the continuous downtrend of finished steel prices and from the slack demand in the steel market.