Bayi Steel’s operating revenue down 58.7 percent in Q1

Xinjiang Autonomous Region-based Chinese steelmaker Bayi Iron and Steel Group (Bayi Steel) has announced in the first quarter of the current year it registered an operating revenue of RMB 992 million ($152.62 million), declining by 58.7 percent year on year, with a net loss of RMB 447 million ($68.77 million), compared to the net loss of RMB 421 million recorded in the same period of 2015.