Liaoning Province-based Chinese steelmaker Ansteel Group Lingyuan Iron and Steel Co., Ltd. (Lingyuan Steel) has announced that it registered an operating revenue of RMB 18.097 billion ($2.5 billion) in 2024, down 10.94 percent year on year, while posting a net loss of RMB 1.678 billion ($0.23 billion) for the given year, with the net loss widening compared to the net loss of RMB 681 million in 2023.
The company stated that finished steel prices moved down in 2024 amid oversupply, which exerted a negative impact on its performance in the given year.