Henan Province-based Chinese steel producer Anyang Iron and Steel Group Co. has announced that in the first three quarters of the current year its operating revenue amounted to RMB 19.38 billion ($3.246 billion), up 21.91 percent year on year, while its net loss for the period was RMB 370 million ($61million), down RMB 2.09 billion ($342.6 million) from the net loss of RMB 2.46 billion ($403.3 million) recorded in the same period last year.
According to Anyang Steel, since the beginning of the current year the company has taken various measures to decrease production costs and improve profitability. As a result, it predicts that for the whole of 2013 it will record a net profit (or net loss) in a range from minus RMB 100 million ($16.4 million) to plus RMB 100 million.
