Anhui-Province based Chinese steelmaker Ma’anshan Iron and Steel Company Limited (Masteel) has announced that it registered an operating revenue of RMB 81.817 billion ($11.4 billion), down 17.3 percent year on year, while it posted a net loss of RMB 4.659 billion ($0.65 billion) in the given year, compared to a net loss of RMB 1.327 billion in 2023.
Masteel stated that in 2024, its parent company Anhui Province-based Chinese steelmaker Magang (Group) Holding produced 18.08 million mt of pig iron, 19.83 million mt of crude steel and 18.36 million mt of finished steel, decreasing by 5.99 percent, 5.41 percent and 10.92 percent year on year, respectively.
As for 2025, Magang (Group) Holding plans to produce 18.72 million mt of pig iron, 20.97 million mt of crude steel and 20.1 million mt of finished steel.