Major Chinese steelmaker Liaoning Province-based Anshan Iron and Steel (Ansteel) has announced that it registered an operating revenue of RMB 22.021 billion ($3.2 billion) in the January-March period this year, down 12.19 percent year on year, while posting a net loss of RMB 1.457 billion ($0.21 billion) for the given period, compared to a net loss of RMB 554 million in the same period of the previous year.
The overall downturn in the steel industry in the first three months this year exerted a negative impact on Ansteel’s performance, while the year-on-year decline in steel sales prices exceeded the decrease in raw material prices. Meanwhile, maintenance work at certain production lines led to a year-on-year decrease in the company’s steel output and sales volumes during the period in question.
$1 = RMB 6.8487
