Reportedly, the Chinese steelmaker Hangzhou Steel posted a net loss of RMB379 million for 2012, in comparison of a net profit of RMB299.8 million in a year ago. In 2012, the company realized operating revenue of RMB17.133 billion, slumping by 23.26% year on year. Hangzhou Steel stated that the drop in profits was caused by lower sales volumes of finished steel, decreased steel prices and higher raw material prices.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=63653&division=A6
