Following a gross profit of RMB 1.0 billion in the first half of the current year, Hunan Province-based Chinese steelmaker Hunan Valin Xiangtan Iron and Steel Co., Ltd (Valin Xiangtan Steel), a subsidiary of Hunan Valin Iron & Steel Group Co. (Valin Group), has announced that it achieved a gross profit of RMB 320 million ($47.62 million) in July, achieving its best monthly performance in the past ten years.
Cao Zhiqiang, general manager of Valin Xiangtan Steel, stated that, given the good performance recorded so far this year, the company is on its way to achieving a gross profit of RMB 2.0 billion for the full year.