Hunan Province-based Chinese steelmaker Hunan Valin Iron & Steel Co. (Hunan Valin Steel) has announced that it expects to register a net profit of RMB 1.4-1.6 billion ($0.22-0.25 billion) for the first quarter of the current year, indicating a significant rise compared to the net profit of RMB 307.56 million in the first quarter of last year.
In the first quarter this year, Hunan Valin Steel’s crude steel and finished steel outputs rose by 14.0 percent and 9.0 percent year on year, respectively.