Multiple steel companies issue first-half 2026 profit warnings, broadly forecasting losses

Earnings
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Summary · why it matters

On the evening of July 14, several listed steel companies including Bengang Steel Plates, Lingyuan Iron and Steel, and Maanshan Iron and Steel disclosed their first-half 2026 earnings forecasts, broadly anticipating losses. Among them, Bengang Steel Plates expects a net loss attributable to shareholders of the listed company of 1.89 billion yuan, with the loss widening by 35.07 percent year-on-year. Lingyuan Iron and Steel forecasts a net loss attributable to shareholders of the listed company of between 770 million and 810 million yuan, an increase in losses compared with the same period last year. Xining Special Steel expects a net loss attributable to owners of the parent of approximately 303 million yuan, with the loss widening by 69 million yuan year-on-year. Maanshan Iron and Steel anticipates a net loss attributable to shareholders of the listed company of around 72 million yuan, narrowing the loss by about 3 million yuan year-on-year. Earlier, Angang Steel and Chongqing Iron and Steel also warned of first-half losses, while Valin Steel, though forecasting a profit of 200 million to 300 million yuan, sees a year-on-year decline of 82.84 to 88.56 percent. The industry's downturn persists, with the contradiction of strong supply and weak demand becoming more pronounced, and high and firm prices for raw materials such as iron ore and coal serving as the core triggers for the losses.

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Hunan Valin Steel Co Ltd
000932
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Valin Steel forecasts profit decline of 82-89% year-on-year due to industry downturn and weak demand.

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