Henan Province-based Chinese steelmaker Anyang Iron and Steel Co. has announced that in the first half of the current year its operating revenue totaled RMB 12.121 billion ($1.98 billion), up 8.02 percent year on year. In addition, the company recorded a net loss of RMB 599 million ($98 million) for the period, down 58.7 percent year on year.
In the first half, Anyang Steel's outputs of pig iron, crude steel and finished steel amounted to 3.5187 million mt, 3.7114 million mt and 3.5434 million mt respectively. Meanwhile, Anyang Steel's production targets for pig iron, crude steel and finished steel for the whole of the current year are 8.3 million mt, 7.75 million mt and 6.7 million mt respectively, while its sales revenue target for the year is RMB 26.8 billion ($4.39 billion).
Anyang Steel said that it also expects to record a net loss in the second half of the current year amid the sluggishness both in the Chinese economy and in the steel markets.
