On August 30, Chongqing Iron and Steel Co. (Chongqing Steel), Chinese steelmaker announced its financial results for the first half of the current year.
Accordingly, in the given period Chongqing Steel saw a net loss of RMB 648 million ($102.21 million), compared to a net profit of RMB 14.12 million ($2.23 million) in the same period last year. In addition, in the first six months this year Chongqing Steel's operating revenue amounted to RMB 10.282 billion (RMB 1.62 billion), down 21.15 percent year on year.