Ansteel expects its H1 net profit to surge by 860 percent

Liaoning Province-based Chinese steel producer Anshan Iron and Steel Group (Ansteel Group) has issued its financial forecast report for the first half this year, stating that it expects to achieve a net profit of RMB 4.8 billion ($0.74 billion) for the period, up 860 percent year on year, amid the improvement seen in the steel industry in the given period.

$1 = RMB 6.4567