Liaoning province based Chinese steelmaker Anshan Iron and Steel Co., Ltd (Ansteel) announced that it registered an operating revenue of RMB 105.101 billion ($14.7 billion) in 2024, down 9.06 percent year on year, and a net loss of RMB 7.122 billion ($1 billion) in the given year, compared to a net loss of RMB 3.255 billion recorded in 2023.
According to the company, the weakening demand for steel, the declining finished steel prices, and the relatively high-priced iron ore contributed to the expansion of the company’s loss in the given year.