Angang Steel Co., China's fourth-largest mill by output, said first-half earnings fell by 73 percent as the market price for steel products in China declined because of oversupply. Net income was 155 million yuan ($24 million) in the six months ended June, dropping from 577 million yuan a year earlier, the Anshan, Liaoning-based producer said. Sales dropped to 29 billion yuan from 38.2 billion yuan.