Xinjiang Autonomous Region-based Chinese steelmaker Bayi Iron and Steel Group (Bayi Steel) has announced in its annual report that in 2015 it registered an operating revenue of RMB 10.555 billion ($1.62 billion), down 48.85 percent year on year, with a net loss of RMB 2.509 billion ($0.39 billion) compared to the net loss of RMB 2.035 billion recorded in 2014.
In 2015, Bayi Steel produced 4.45 million mt of crude steel and 4.35 million mt of finished steel, respectively equivalent to 57.79 percent and 58.78 percent of its annual targets.