Beijing-based Chinese steelmaker Shougang Iron and Steel Co. (Shougang) has announced in its preliminary financial report for 2015 that it expects to record a net loss in the range of RMB 800 million-1 billion ($121.59-151.98 million) for the year, compared to a net profit of RMB 62.6438 million in 2014.
Shougang stated that slack demand from downstream users and the ongoing declining trend of finished steel prices caused it to incur a net loss in the given year.