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Hangzhou Steel guides net loss of RMB1.06 bln in 2015

BEIJING
2016-01-29 08:47

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Hangzhou Steel (600126.SH) said on late Thursday that it is expected to suffer a net loss of 1.06 billion yuan in 2015.

The steelmaker earned net profits of 10.73 million yuan in 2014. The company attributed the net loss to the shutdown of Hangzhou Banshan steel production base, a slowdown in the domestic economy, excessive capacities in the steel sector and continuous decline in steel prices.

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