Ansteel returns to profit in 2013

On January 22, Liaoning Province-based Chinese steelmaker Anshan Iron and Steel Co. (Ansteel) announced its preliminary financial results for 2013, stating that it achieved a net profit of about RMB 770 million ($126.2 million) for the year. Ansteel had recorded a net loss of RMB 4.025 billion in 2012.
 
Ansteel said that in 2013 it made efforts to achieve profitability by improving product quality, optimizing its product structure and reducing costs amid intense market competition.