Bayi Steel sees 51.13 percent fall in net profit in January-June

On July 17, Xinjiang-based Chinese steelmaker Bayi Iron and Steel Co. (Bayi Steel) issued its financial results for the first half of the current year, announcing a net profit of RMB 190 million ($30.1 million), down 51.13 percent year on year.

In the January-June period this year, the operating revenue of Bayi Steel amounted to RMB 14.14 billion ($2.34 billion), up 0.83 percent year on year.