On August 20, Anhui Province-based Chinese steelmaker Maanshan Iron and Steel Co. Ltd (Masteel) announced its results for the first half of the current year. Accordingly, Masteel's operating revenues for the period in question amounted to RMB 28.86 billion ($4.69 billion), down 21.89 percent year on year, while it registered a net loss of RMB 730 million ($118.51 million), compared to a net loss of RMB 330 million in the same period of last year.

In the first half this year, Masteel produced 6.15 million mt of pig iron, 6.60 million mt of crude steel and 6.33 million mt of finished steel, down 8.3 percent, 4.9 percent and 4.4 percent year on year.