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Maanshan Iron & Steel expects to report a net loss of approximately 72 million yuan for the first half of 2026, reflecting continued pressure across China’s steel industry.The projected loss is slightly lower than the company’s 75 million yuan deficit recorded during the same period last year. However, its net loss excluding non-recurring items is expected to widen to around 226 million yuan from 108 million yuan a year earlier.
The Chinese steelmaker attributed the weak performance to an ongoing imbalance between steel supply and demand, subdued finished steel prices and elevated raw material and fuel costs. These factors continued to squeeze steel margins despite improvements in operational performance.
Maanshan Iron & Steel also recognised an investment loss linked to the bankruptcy liquidation of Xinyang Jingang, a subsidiary of its associate Henan Jinma Energy.Non-recurring gains of approximately 154 million yuan are expected to partially offset operational losses. The forecast highlights the financial challenges facing Chinese steel producers as weak domestic demand and high input costs continue to affect profitability.
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