Hunan Valin Steel foresees 32.82-35.73 percent drop in H1 net profit

Friday, 19 July 2019 09:57:31 (GMT+3)   |   Shanghai

Hunan Province-based Chinese steelmaker Hunan Valin Iron & Steel Co. (Hunan Valin Steel) has stated that its net profit for the first half of this year is expected to total RMB 2.21-2.31 billion ($0.32-0.34 billion), down 32.83-35.73 percent year on year.

In the given period, finished steel prices were lower than in the same period of the previous year, while the sharp rises in raw material prices resulted in higher production costs, resulting in the company’s reduced net profit in the first half.

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