Fujian-based Chinese steel producer Fujian Sangang Group produced 5.38 million mt of crude steel in the January-June period this year, up 7.05 percent year on year, while it has posted a gross profit of RMB 2.124 billion ($0.312 billion) for the given period, up 246 percent year on year, as reported by local media in Fujian.
In 2016, Fujian Sangang Group achieved a gross profit of RMB 1.209 billion ($0.175 billion), compared to the gross loss of RMB 1.632 billion ($0.237 billion) it recorded in 2015.