Henan Province-based Chinese steelmaker Anyang Iron and Steel Co. (Anyang Steel) has stated that it expects its net profit for the first half of the current year to indicate decrease in the range of RMB 220-280 million ($32.0-40.8 million), i.e., down 72.0-78.0 percent year on year.
The company stated that the declines in finished steel prices and the rises in iron ore prices resulted in a lower net profit in the given period.