China Securities Journal reported that Panzhihua New Steel & Vanadium Co Ltd unveiled a profit loss of CNY 0.1 billion in its Q3 earnings report with the total profit loss of CNY 1.438 billion in January to September 2009. And it is predicted to eye full year profit loss of CNY 1.4 billion.

According to the report, although steel prices edged up by small amounts in Q3, market demand didn’t show any signs of increase which sent steel prices to move downward in the Q4.

(Sourced from China Securities Journal)