Chinese steelmaker Shandong Iron and Steel Company Ltd has announced an operating revenue of RMB 82.094 billion ($11.4 billion) for the year of 2024, down 9.26 percent year on year, while posting a net loss of RMB 2.258 billion ($0.3 billion) for the year, compared to a net loss of RMB 400 million in 2023.
In 2024, the steel industry faced a tough market situation. Though the company actively responded to the market conditions, its performance came under strong downward pressure, resulting in its increased net loss for the given year.
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