Liaoning Province-based Chinese steelmaker Angang Steel Co. (Ansteel) has stated that it expects to register a net profit of RMB 5.678 billion ($0.88 billion) for 2017, up sharply from a net profit of RMB 1.616 billion in 2016.
Ansteel said that, amid the better performance of China’s steel industry, it improved its management and lowered its costs, thereby achieving better results for 2017.