Hunan Province-based Chinese steelmaker Valin LY Steel Co. has announced that it has recorded a net loss of RMB 259 million ($42.18 million) for the January-September period of the current year, compared to a net profit of RMB 50.4772 million in the same period last year.
In the first nine months this year, Valin LY Steel saw an operating revenue of RMB 10.981 billion ($1.79 billion), down 7.18 percent year on year.