Shanghai-based Chinese steelmaker Baosteel has announced an operating revenue of RMB 169.933 billion ($25.54 billion) for the January-June period of the current year, up 59.40 percent year on year, with a net profit of RMB 6.17 billion ($0.93 billion), rising by 64.91 percent year on year.
Baosteel stated that in the first half of the year it continued to lower production costs in order to enhance its profitability against the backdrop of improved conditions in the steel market, resulting in the company’s improved performance in the given period.