Hangzhou Steel sees 31.85 percent fall in operating revenue in Q1

Zhejiang Province-based Chinese steelmaker Hangzhou Iron & Steel Co. (Hangzhou Steel) has announced that in the first quarter of the current year it registered an operating revenue of RMB 4.353 billion ($0.67 billion), down 31.85 percent year on year, with a net profit of RMB 111.4 million ($17.13 million) compared to a net loss of RMB 66.542 million in the same period of 2015.