Gansu province-based Chinese steelmaker Jiu Steel Group Hongxing Iron and Steel Co., Ltd. announced that it registered an operating revenue of RMB 6.98 billion ($1.0 billion) in the January-March period this year, up 2.9 percent year on year, while posted a net loss of RMB 182 million ($26.7 million) in the given period, compared to a net loss of RMB 444 million.
In the given period, Jiu Steel Hongxing Steel produced 1.13 million mt of flat steel, up 30 percent, while producing 1.25 million mt of longs, down 14.3 percent, and 131,300 mt of stainless steel, down 7.3 percent, year on year, respectively.
$1 = RMB 6.8176
