Xinjiang Autonomous Region-based Chinese steelmaker Bayi Iron and Steel Group (Bayi Steel) has announced an operating revenue of RMB 7.084 billion ($1.06 billion) for the first half of the current year, up 92.88 percent year on year, with a net loss of RMB 401.5 million ($60.35 million), compared to a net loss of RMB 314 million in the same period of 2016.
In the first half this year, Bayi Steel produced 2.49 million mt of crude steel and 2.36 million mt of finished steel, rising by 45.61 percent and 44.79 percent year on year, respectively.