Chongqing-based Chinese steelmaker Chongqing Iron & Steel Company Ltd. (Chongqing Iron & Steel Co.) has announced a net loss of RMB 178.9 million ($26.4 million) for the first half of the current year, compared to a net loss of RMB 131 million ($19.2 million) recorded in the same period of 2025, amid the combined pressure from declining finished steel prices, rising raw material costs, and higher logistics expenses, exacerbated by the maintenance of the Three Gorges Dam, resulting in profit margins remaining under pressure.
In the first six months, Chongqing Steel registered an operating revenue of RMB 11.826 billion ($1.74 billion), down 9.62 percent year on year.
As for the July-December period, the company stated that it will strictly control raw material inventory to narrow the gap in cost percentiles across the industry and optimize the product mix, increase the share of high-value-added specialty steels, and accelerate the destocking of finished steel, aiming to drive operational improvements to mitigate the risks of a prolonged downturn in the steel industry.
