General Steel Holdings Q1 Net Loss Widens

(RTTNews) - General Steel Holdings, Inc. (GSI), a non-state-controlled steel producer in China, Friday announced a wider net loss attributable to the company for the first quarter of $45.153 million compared to $43.564 million last year. Loss per share were share narrowed to $0.73 from $0.78 last year. Lower sales volume and average selling price of rebar impacted the results.

Total sales for the quarter declined 44.8 percent to $328.16 million from $594.211 million a year ago. Sales volumed recorded a 27.6 percent drop to 0.95 million metric tonnes from 1.32 million metric tonnes in the prior year.