Panzhihua Steel and Vanadium, a Sichuan-based steel maker publicly listed on the Shenzhen Stock Exchange, posted a loss of 102 million yuan in the third quarter of this year, bringing the total losses to 1.438 billion yuan in the first nine months. The mill predicated it would lose 1.4 billion yuan in 2009. Given a loss of 4.5 billion yuan last year, it will likely be listed under special treatment next year.