Liaoning Province-based Chinese steelmaker Anshan Iron and Steel Co., Ltd has announced that its net profit is expected to amount to RMB 7.04 billion ($1.11 billion) in 2021, up 256 percent year on year.
In 2021, while the steel industry performed well, the company sought to limit increases in raw material prices and adjusted its product structure, which resulted in the big rise in its net profit for the year.