Henan Province-based Chinese steelmaker Zhongyuan Special Steel Co., Ltd (Zhongyuan Special Steel) has announced that in the first half of the current year it achieved an operating revenue of RMB 508.89 million ($74.84 million), up 6.84 percent year on year, and a net loss of RMB 99.556 million ($14.64 million), compared to a net loss of RMB 48.7666 million in the same period of 2016.
Zhongyuan Special Steel stated that in the given period fierce market competition and rapid rises in raw material prices resulted in a bigger loss compared to the same period of the previous year.