Inner Mongolia-based Chinese steelmaker Baotou Steel Co., Ltd expects to record a net loss of RMB 1.3 to 1.7 billion for 2009, down around 200 percent on a year-on-year basis.
The loss incurred by the company was due to factors including the international financial crisis, excess production capacity in the iron and steel industry, price declines in the domestic market, decreased prices of seamless steel tubes and medium plate and increased prices of coal, alloys, etc.