Xinjiang Autonomous Region-based Chinese steelmaker Bayi Iron and Steel Co., Ltd. (Bayi Steel) has announced that it registered an operating revenue of RMB 8.733 billion ($1.2 billion) in the January-June period this year, down 6.73 percent year on year, while it posted a net loss of RMB 697 million ($98 million) for the given period, compared to the net loss of RMB 720 million recorded in the same period of last year.
In the first six months this year, Bayi Steel produced 2.42 million mt of pig iron, 2.71 million mt of crude steel and 2.51 million mt of finished steel, up 3.4 percent, 1.5 percent and 0.8 percent, respectively.
The company stated that it continuously optimized production activities and sales strategies to enhance resilience against market fluctuations, driving the enterprise toward high-quality and steady development, which contributed to a lower loss compared to the same period of last year.
