Major Chinese steelmaker Baoshan Iron & Steel Co., Ltd (Baosteel), a listed subsidiary of the state-owned China Baowu Group, has issued its financial report for the first nine months this year, stating that its operating revenue amounted to RMB 255.017 billion ($35.5 billion) in the given period, down 8.35 percent year on year, while its net profit came to RMB 8.35 billion ($1.2 billion), down 11.76 percent year on year.
In the given period, Baosteel produced 37.026 million mt of pig iron and 39.816 million mt of crude steel, up 6.2 percent and 5.5 percent, respectively, while it sold 38.968 million mt of finished steel, rising by 4.9 percent, all year on year.
In the July-September period, Baosteel registered an operating revenue of RMB 85.162 billion ($11.9 billion), down 9.97 percent year on year, while it posted a net profit of RMB 3.798 billion ($0.53 billion) in the same period, up 127.1 percent year on year. In the given period, Baosteel produced 12.755 million mt of pig iron and 13.873 million mt of crude steel, up 8.4 percent and 10.8 percent, respectively, while it sold 13.405 million mt of finished steel, rising by 2.7 percent, all year on year.
