Henan Province-based Chinese steelmaker Zhongyuan Special Steel Co., Ltd (Zhongyuan Special Steel) has announced that it expects to record a net loss in the range of RMB 20-25 million ($3.10-3.87 million) for the first quarter of the current year, compared to the net loss of RMB 12.1394 million recorded in the same period of 2015.
Zhongyuan Special Steel stated that slack demand from downstream users and decreases in its product prices caused it incur an increased loss in the given period.