Zhejiang Province-based Chinese steelmaker Hangzhou Iron & Steel Co., Ltd. (Hangzhou Steel) has announced a net loss of RMB 628 million ($87.2 million) for 2024, with its net loss expanding sharply compared to the net loss of RMB 182 million recorded in 2023. In the given year, Shagang registered an operating revenue of RMB 63.664 billion ($8.8 billion), up 14.04 percent year on year.
In 2024, Hangzhou Steel’s HRC output amounted to 4.2908 million mt, down 5.13 percent, while its HRC sales totaled 4.2781 million mt, down 5.49 percent, both year on year.