Shanghai Province-based Chinese steelmaker Baoshan Iron and Steel Co. Ltd (
Baosteel) has announced that in 2013 it achieved an operating revenue of RMB 190.3 billion ($31.2 billion), down 0.62 percent year on year, while it recorded a net profit of RMB 5.781 billion ($947.7 million), down 44.35 percent from RMB 10.386 billion in 2012. In the fourth quarter of 2013,
Baosteel achieved a net profit of RMB 1.45 billion ($237.7 million) amid increasing sales prices of finished steel, up four percent compared with the previous quarter.