Chongqing Steel made a net loss of 178.9 million yuan in the first half of 2026.

Chinese Steel Company Chongqing Iron & Chongqing-based Steel Company Ltd reported a net loss of 178.9 million yuan ($26.4 million) in the first half of this year. A year earlier, for the same period, the loss was 131 million yuan ($19.2 million). The financial result was affected by lower prices for finished steel, rising raw material costs and increased logistical costs, as well as maintenance of the Three Gorges Dam, which continued to put pressure on profitability.

For the six months, Chongqing Steel's operating revenue amounted to 11.826 billion yuan ($1.74 billion), which is 9.62% less than a year earlier.

For the period from July to December, the company stated that it would strictly control raw material stocks in order to reduce the gap in cost percentages across the industry, optimize the output structure, increase the share of special steels with high added value and accelerate the sale of stocks of finished steel. In this way, the company expects to increase production efficiency and reduce the risks of a prolonged recession in the steel industry.