Beijing-based Chinese steel producer Shougang Group has announced that in the first three quarters of the current year its operating revenue amounted to RMB 7.001 billion ($1.14 billion), down 11.05 percent year on year. Meanwhile, the steelmaker registered a net loss of RMB 391 million ($63.89 million) in the given period, up 26.86 percent year on year.
In the third quarter alone, Shougang's operating revenue and net loss amounted to RMB 1.903 billion ($311 million) and RMB 122 million ($19.93 million) respectively, down 16.03 percent and 395.01 percent year on year.