Chinese steel company Bayi Iron and Steel Co., Ltd. (Bayi Steel) of the Xinjiang Autonomous Region said it expects a net loss of 1.85-2.05 billion yuan ($0.26-0.29 billion) in 2025, compared with a net loss of 1.752 billion yuan recorded in 2024.
The company said the steel industry is in a period of deep adjustment, while weak supply and demand situations and strict environmental measures have reduced the company's profitability. In addition, the relatively low production efficiency during the winter season in the Xinjiang region further aggravated the company's operational pressure.
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