Beijing-based Chinese steelmaker Shougang Co., Ltd has announced that it registered an operating revenue of RMB 26.533 billion ($3.7 billion) in the January-March period this year, down 10.18 percent year on year, while it posted a net profit of RMB 328 million ($45.6 million) for the given period, shifting from a net loss of RMB 24.2991 million (3.4 million) recorded in the same period of last year.
The company stated that the costs of raw materials declined year on year, contributing to the improvement in its operating performance in the first three months.