Chinese steelmaker Shandong Iron and Steel Company Ltd has announced that it expects to record a net loss of RMB 14.5 million ($2.0 million) for the January-March period this year, with the net loss shrinking significantly compared to the net loss of RMB 638 million in the same period last year.
The company stated that the steady production activities and reductions in procurement costs contributed to the company’s improved performance in the given period.