Inner Mongolia-based Chinese steelmaker Baotou Iron and Steel Co., Ltd. (Baogang) has announced that it registered an operating revenue of RMB 39.437 billion ($6.1 billion) in the first half this year, while achieving a net profit of RMB 2.764 billion ($0.43 billion) in the given period, up 3,188 percent year on year.
In the given period, finished steel prices indicated an increasing trend, exerting a positive impact on Baogang’s profitability.