Inner Mongolia-based Chinese steelmaker Baotou Iron and Steel Group (Baogang Group) announced that it produced 7.83 million mt of crude steel in the first half of the current year, up 6.75 percent year on year, while exported 1.05 million mt of finished steel in the given period, up 7.45 percent year on year, it is expected to achieve an operating revenue of RMB 57.5 billion ($8.9 billion), up by 16.4 billion and to register a gross profit of RMB 5.0 billion ($0.77 billion), up by RMB 4.7 billion year on year.
Baogang Group created the best performance for the given period over the past 67 years since it was established.
$1 = RMB 6.4734