Chongqing-based Chinese steel producer Chongqing Iron & Steel Co. (Chongqing Steel) has announced that it has recorded an operating revenue of RMB 2.789 billion ($0.42 billion) for the first half of the current year, down 38.09 percent year on year, with a net loss of RMB 1.79 billion ($0.27 billion) compared to the net loss of RMB 2.228 billion recorded in the same period of 2015.
Chongqing Steel stated that decreases in its average finished steel product sales price and in its sales volumes caused it incur a net loss in the given period.