Liaoning Province-based Chinese steelmaker Anshan Iron and Steel Co. (Ansteel) has announced in its final financial report for the first quarter this year that it achieved an operating revenue of RMB 18.399 billion ($3 billion) in the given quarter, down 4.01 percent year on year, while it recorded a net profit of RMB 286 million ($46.7 million), down 47.04 percent year on year.
Ansteel said the main reason for the decline in its net profit was the decrease in finished steel prices in the given period.
Source:
http://www.steelorbis.com/steel-news/latest-news/ansteel-sees-reduced-net-profit-in-first-quarter-825776.htm
