Chongqing Steel Suffers from Low Prices Go back »

2013-04-30 | Southwest China

The selling prices of the Group’s products stayed at a low level during the first quarter as a result of the continued slump in the steel market, leading to a significant decline in selling prices from the same period last year," the company argued.

Chongqing generated sales revenue of RMB4.99 billion in the period, down from RMB5.3 billion in the same period last year, while operating costs down slightly to RMB5.45 billion. 

Chongqing further said that despite efforts to reduce costs and improve efficiency by exploiting potential against the benchmark and adjusting product mix, the Group is expected to record a net loss at the end of the next reporting period as the steel market has not seen a fundamental recovery.

Source: Indonesia Today