Lakeside Steel Inc. cited decreased demand for a fiscal second-quarter financial loss, but is seeking to step up output soon as a result of increasing orders.

The Welland, Ontario-based tubular steelmaker posted a net loss of Canadian $3 million ($2.9 million) for the three months ended Sept. 30, in contrast to net income of C$2.8 million for the same period a year earlier, on revenue that fell 69.6 percent to C$17.8 million ($16.9 million) from C$58.5 million.

Demand for its oil country tubular goods (OCTG) experienced a substantial reduction into the latest quarter, Lakeside...