Shanghai-based Chinese steel giant Baosteel has announced that in the first quarter of the current year it achieved an operating revenue of RMB 54.018 billion ($8.3 billion), with a net profit of RMB 3.07 billion ($0.47 billion), down 21.88 percent year on year.
In Q1, Baosteel produced 5,797,000 mt of pig iron and 6,604,000 mt of crude steel.