Maanshan Iron & Steel (SHA:600808, HKG:0323) narrowed its attributable loss in the first quarter to 144.1 million yuan from 311 million yuan a year prior, a Tuesday filing with the Hong Kong bourse said.
Loss per share narrowed to 0.02 yuan in the three months from 0.04 yuan in the corresponding period of the last year.
Revenue for the iron and steel company fell 4.7% to 19.4 billion yuan from 20.4 billion yuan in the year-ago period.
The firm attributed the lower loss mainly to the decline in the prices of raw materials and fuels being greater than the decrease in steel prices, as well as internal cost reductions.
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