Fangda Special Steel achieves net profit of RMB 211.87 million in H1

Jiangxi Province-based Chinese steelmaker Fangda Special Steel has issued its financial results for the first half of 2012, announcing an operating revenue of RMB 6.703 billion ($1.06 billion) and a net profit of RMB 211.87 million ($33.47 million).
 
Fangda Special Steel stated that it has focused on boosting its income through technology upgrades, production cost reductions and sales structure adjustment, against a background of weak downstream market demand and decreases in steel sales prices. In the first six months, the company produced 1,413, 000 mt of pig iron, 1,577,000 million mt of crude steel and 1,562,400 million mt of finished steel.