Henan Province-based Chinese steelmaker Anyang Iron and Steel Co. (Anyang Steel) has announced in its quarterly report that it has recorded an operating revenue of RMB 4.93 billion ($0.76 billion) in the first quarter of the current year, down 13.91 percent year on year, with a net loss of RMB 174 million ($26.77 million) compared to a net loss of RMB 103 million in the same period of 2015.
Anyang Steel stated that it expects to record a net profit in the second quarter of the year due to improvements in the company’s management and product structure and also due to the rising trend of domestic finished steel prices.