Shandong Steel expects net profit of up to RMB 180 million for 2013

Shandong Province-based Chinese steelmaker Shandong Iron and Steel Co. Ltd (Shandong Steel) has announced that its net profit for 2013 is expected to be in the range of RMB 120-180 million ($19.8-29.8 million), marking a successful return to profit for the company. In 2012, Shandong Steel had recorded a net loss of RMB 3.8365 billion ($634 million), equivalent to a net loss per share of RMB 0.65 ($0.11).