During the announcement of the company regarding the half year results on Wednesday, pin pointed on the pressures faced by the company, mainly due to the oversupply in the Chinese market as well as due to the creeping growth of the Chinese economy.
Chongqing Iron & Steel, a medium-sized Chinese steelmaker, net loss in the H1 widened 23% YoY to CNY 1.38 billion as slower economic growth in China dented demand and steel prices.