Henan Province-based Chinese steelmaker Anyang Iron and Steel Co. (Anyang Steel) has announced in its preliminary financial report for 2015 that it expects to record a net loss of RMB 1.8 billion ($0.27 billion) for the year, compared to the net profit of RMB 28.5297 million recorded in 2014.
Anyang Steel stated that the ongoing declining trend of finished steel prices against the background of the overall sluggishness in China’s domestic steel industry resulted in its net loss for the given year.