Hebei Province-based Chinese steelmaker Hebei Iron and Steel Co. Ltd, listed subsidiary of Hebei Iron and Steel Group (HBIS), has announced that it expects to record a net profit of RMB 1.15-1.27 billion ($0.17-0.19 billion) for the first half of the current year, compared to a net profit of RMB 409 million in the same period last year.
The company stated that the rising finished steel prices in the H1 contributed to its good performance in the given period.