Anyang Iron and Steel Co., Ltd, a Chinese steel company based in Henan Province. Anyang Steel announced that its net loss for January-June of this year was 1.181 billion yuan ($0.17 billion), compared with a net profit of 38.0583 million yuan recorded in the same period last year.
For the specified period, Anyang Steel's operating revenue amounted to 14.919 billion yuan ($2.2 billion), which is 3.84% less than a year earlier.
According to Anyang Steel, lower prices for finished steel and relatively high raw material costs have reduced the company's profitability.
However, between April and June, the company's net loss decreased to 493 million yuan, compared with a net loss of 688 million yuan in the first three months, indicating some improvement in operating performance.
Meanwhile, the company reported some of its high production of high-value-added special steel products has already reached a stable mass level, which can help compensate for the low performance of conventional steel products in the future.
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