[Ferro-Alloys.com] Chinese steelmaker Shougang has issued its third quarter financial results of the current year. According to the report that the company has returned to profit in the third quarter, following the losses recorded in the first quarter of 2012.

Shougang has made operating revenue of RMB 7.872 billion in the first three quarters, down by 17.16% compared to the same period of last year, with a net loss of RMB 308 million.

Meanwhile, the company's operating revenue reached RMB 2.667 billion with a net profit of RMB 41.3221 million in the third quarter alone, compared to a net loss of RMB 143 million in the same period of 2011.

Shougang posted a net loss of RMB 349.43 million in the first half of this year and predicted a net loss of between RMB 29.94 to RMB 70.57 million for the third quarter.