Hubei Province-based Chinese steelmaker Wuhan Iron and Steel Group (WISCO) has announced that in the January-September period of the current year it registered an operating revenue of RMB 48.952 billion ($7.71 billion), down 35.21 percent year on year, with a net loss of RMB 1.001 billion ($0.16 billion) compared to a net profit of RMB 999 million in the same period of 2014.
WISCO stated that slack demand from downstream users, the continuous declining trend of finished steel prices and the devaluation of the Chinese currency caused it to incur a net loss in the given period.