Jiangsu Province-based Chinese steel producer Jiangsu Shagang Co., Ltd (Jiangsu Shagang), a subsidiary of Chinese steelmaker Shagang Group, has announced that it achieved an operating revenue of RMB 6.11 billion ($0.92 billion) in the first half of the current year, up 63.48 percent year on year, while its net profit for the period amounted to RMB 189 million ($28.4 million), up sharply from RMB 65.7346 million in the same period last year.
The company stated that rising finished steel prices in the first half of the year contributed to its improved performance in the given period.