Angang Steel Co. Ltd.—the listed arm of Anshan Iron and Steel Group Corp.—has carried an ST (special treatment) tag, a type of bourse warning, on the Shenzhen Stock Exchange since March 29 after posting losses for two years in a row.

Angang Steel, a Liaoning-based steel maker, reported a 4.16 billion yuan ($670 million) loss in 2012, compared with a 2.1-billion-yuan ($338.1 million) loss in the previous year.

According to bourse regulations, the company had to change its stock name to ST Angang as a warning to investors of its loss-making record.

In addition, some analysts believe it risks being delisted if it fails to see profits this year.

Angang said steel product prices have slumped due to lower demand at home, overcapacity, rising costs and fierce competition.