Jiangsu Province-based Chinese steel producer Nanjing Iron and Steel Co. Ltd (Nanjing Steel) has announced that in the January-September period of the current year it recorded an operating revenue of RMB 17.324 billion ($2.73 billion), down 15.85 percent year on year, with a net loss of RMB 474 million ($74.76 million) compared to a net profit of RMB 202 million in the same period of 2014.
Nanjing Steel stated that slack demand from downstream users and the continuous declining trend of finished steel prices caused it to incur a net loss.