Liaoning Province-based Chinese steelmaker Bengang Steel Plates Co. (Bengang Steel Plates), a listed subsidiary of Benxi Iron and Steel (Group) Co. (Bengang Group), has announced that it expects to register a net profit of RMB 523.64 million for the first half of the current year, compared to a net profit of RMB 182.54 million in the same period last year.
The company stated that rising finished steel prices in the Chinese domestic market contributed significantly to the improved performance of the company in the first half of the year.