Xinjiang Autonomous Region-based Chinese steelmaker Bayi Iron and Steel Co., Ltd. (Bayi Steel) has announced that it expects a net loss of RMB 1.85-2.05 billion ($0.26-0.29 billion) for 2025, compared to the net loss of RMB 1.752 billion recorded in 2024.
The company stated that the steel industry has been in a period of deep adjustment, while both the weak situation in supply and demand and the strict environmental protection measures have shrunk the company’s profitability. Also, the relatively low production efficiency during the winter season in the Xinjiang region has further exacerbated the operational pressures on the company.