Liaoning Province-based Anshan Iron and Steel Co., Ltd has issued its financial report for the January-March period this year, stating that it registered an operating revenue of RMB 30.844 billion ($4.5 billion), down 11.69 percent year on year, while posting a net loss of RMB 149 million ($21.5 million) compared to a net profit of RMB 14.82 million in the same period last year.
In the given period, demand for steel did not improve in line with market players’ expectations, exerting a negative impact on steel prices and causing Ansteel’s profitability to shrink.
$1 = RMB 6.924