Shanxi Province-based Chinese stainless producer Taigang Stainless Steel Co. (Taigang Stainless Steel), a listed subsidiary of Taiyuan Iron and Steel (Group) Co. (TISCO), has announced that it expects to record a net profit in the range of RMB 286-317 million ($42.8-47.5 million) for the first half of the current year, compared to a net profit of RMB 63.9222 million in the same period last year.
Taigang Stainless Steel stated that it improved its management structure and optimized its product structure amid the rising trend of finished steel prices in China, contributing to its increased profitability in the given period.