Hunan Province-based Chinese steelmaker Hunan Valin Iron & Steel Co. (Hunan Valin Steel) has announced that it expects to realize a net profit of RMB 3.38-3.58 billion ($0.5-0.53 billion) in the first half of this year, which will be its best-ever performance for a first half, while it had posted a net profit of RMB 956.26 million for the January-June period of 2017.
Valin Steel stated that in the first half of this year its pig iron, crude steel and finished steel outputs rose by 10.0 percent, 18.0 percent and 16.0 percent year on year, reaching new record outputs.