Valin Steel incurs 387 million yuan loss in Q1

Valin Steel had an operating income of 10.27 billion yuan in the first quarter of this year, down 8 percent year-on-year; earnings per share of minus 0.14 yuan; and suffered a loss of 387 million yuan, down 46.56 percent. The mill is expected to lose about 500 million yuan in the first half due to falling steel prices and weak demand.