Chongqing Iron and Steel Co., Ltd. announced that it has registered an operating revenue of RMB 22.67 billion ($3.5 billion), while posted a net profit of RMB 2.697 billion ($0.42 billion), up 2,122.44 percent year on year.
During the given period, Chongqing Steel’s finished steel sales amounted to 4.7542 million mt, up 51.55 percent year on year.
The company said the rising finished steel prices contributed to the improvement in its net profit.
$1 = RMB 6.4677