Shanghai-based Chinese steelmaker Baoshan Iron and Steel Co. Ltd (Baosteel) has issued its financial report for the first quarter of the current year, announcing an operating revenue of RMB 46.748 billion ($7.63 billion), up 0.85 percent, and a net profit of RMB 1.51 billion ($0.25 billion), down 7.23 percent, both year on year.
In the first quarter this year, Baosteel produced 5.515 million mt of pig iron and 5.646 million mt of crude steel, while it sold 5.536 million mt of finished steel.