Fushun Special Steel expects sharp rise in net profit for Q1

Liaoning Province-based Chinese steelmaker Fushun Special Steel Co., a subsidiary of Dongbei Special Steel Group, has issued its preliminary financial results for the first quarter of current year, announcing that it expects to see a 1,007-1,057 percent year on year rise in its net profit to RMB 60-63 million ($9.6-10.1 million). The company stated that the increase in its net profit in the first quarter is mainly due to structural adjustments.