Angang Steel Co has issued its financial results for the first half of the current year, announcing a total net loss of CNY 1.976 billion compared with a net profit of CNY 220 million in the same period last year.

The net loss of the company in the second quarter was CNY 88 million compared to CNY 1.888 billion in the first quarter.

Ansteel stated that in the first half of the current year it was negatively impacted by a 12%YoY decrease in steel sales prices, despite efforts to increase efficiency and reduce costs.

Source: www.steelhome.cn/en
China steel information centre and industry database

(www.steelguru.com)