Gansu Province-based Chinese steel producer Hongxing Steel, a listed subsidiary of Gansu-based steelmaker Jiuquan Iron and Steel Group (JISCO), has announced that in the first half of the current year it registered an operating revenue of RMB 33.786 billion ($5.28 billion), down 37.99 percent year on year, with a net loss of RMB 1.534 billion ($0.24 billion) compared to a net loss of RMB 322 million in the same period of 2014.
In the first half this year, JISCO Hongxing Steel produced 3.5571 million mt of pig iron, 4.1652 million mt of crude steel and 3.9913 million mt of finished steel, equivalent to 43.38 percent, 42.90 percent and 42.01 percent of its production targets for the current year, respectively.