Liaoning Province-based Chinese steelmaker Angang Steel Co. (Ansteel) has announced an operating revenue of RMB 39.057 billion ($5.87 billion) for the first half of the current year, up 53.59 percent year on year, while it has posted a net profit of RMB 1.823 billion ($0.27 billion) for the period, up sharply from a net profit of RMB 300 million in the same period last year.
Ansteel stated that, amid the improved performance of China’s steel industry, it implemented several measures to reduce its costs and improve its operating performance in the first half of this year.