In May this year northern Chinese steelmaker Jigang Group recorded a net profit of RMB 204 million ($29.91 million), up RMB 254 million ($37.096 million) year on year and constituting its best monthly net profit result since the financial crisis.
In May, the company's sales revenues totaled RMB 2.731 billion ($0.4 billion), up RMB 220 million ($32.258 million) year on year, while its finished steel export volume amounted to 50,600 mt or US$36.085 million in value, up 3.58 and 5.12 times year on year respectively.
Jigang Group states that in the current year it has increased the share of high quality products in its output.
(US$1 = RMB 6.82)