Anyang Steel sees return to profit in first nine months

Henan Province-based Chinese steelmaker Anyang Iron and Steel Co. (Anyang Steel) has announced that in the first nine months of the current year it achieved an operating revenue of RMB 20.78 billion ($3.38 billion), up 7.2 percent year on year. In addition, in the given period Anyang Steel recorded a net profit of RMB 53.128 million ($8.65 million), compared to a net loss of RMB 373 million in the same period last year. The company said that the increase in its operating revenue in the first nine months of the year was mainly due to increased sales volumes of finished steel.