Baogang expects to see big rise in net profit for 2017

Friday, 26 January 2018 09:41:20 (GMT+3)   |   Shanghai
       

Inner Mongolia-based Chinese steelmaker Baotou Iron and Steel (Baogang) has announced that its net profit for 2017 is expected to increase by RMB 1.91497 billion ($0.3 billion), rising sharply from just RMB 85.03 million in 2016.

The company stated that the improved performance of the overall domestic steel industry due to supply-side reform contributed to rising finished steel prices, which boosted the company’s profitability in the given year.


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