Liaoning Province-based Chinese steelmaker Angang Steel Co. (Ansteel) has announced an operating revenue of RMB 60.506 billion ($9.13 billion) for the first nine months of the current year, up 47.44 percent year on year, as well as a net profit of RMB 3.285 billion ($0.50 billion) for the period, up sharply from a net profit of RMB 970 million in the same period last year.
Ansteel stated that, amid the improvement in the performance of China’s steel industry, it improved its management and lowered its costs, contributing to its better performance in the given period.