Xinjiang Province-based Chinese steelmaker Bayi Iron and Steel Co., Ltd. (Bayi Steel) has announced that it registered an operating revenue of RMB 19.687 billion ($0.77 billion) in the first nine months this year, down 21.02 percent year on year, while posting a net loss of RMB 612 million ($84.8 million), down 126.35 percent year on year.
In the July-September period this year, it registered an operating revenue of RMB 6.617 billion ($0.92 billion), down 34.84 percent year on year, while posting a net loss of RMB 468 million ($64.8 million), down 148.61 percent year on year.
In the first nine months, the company’s outputs of longs and flats totaled 1.3211 million mt and 2.354 million mt, down 31.66 percent and 16.64 percent year on year, respectively. In the given period, the company’s sales of longs and flats amounted to 1.2575 million mt and 2.3638 million mt, down 42.7 percent and 19.21 percent year on year, respectively.