Chongqing-based Chinese steel producer Chongqing Iron and Steel Co. (Chongqing Steel) has announced that it achieved an operating revenue of RMB 8.183 billion ($1.234 billion) in the first nine months of the year, up 122.06 percent year on year, while it has posted a net loss of RMB 882 million ($133.03 million) for the given period, compared to a net loss of RMB 3.091 billion in the same period of last year.
The company stated that its expansion of its scale of production and lowering of costs have contributed to its better performance against the background of the improved operating environment in the Chinese steel industry.