Gansu-based Chinese steelmaker Jiuquan Iron and Steel Group (JISCO), has announced in its annual report for 2016 that it achieved an operating revenue of RMB 81.3 billion ($11.82 billion) for the given year, with a net profit of RMB 2.03 billion ($0.29 billion) compared to the net loss of RMB 6.96 billion in 2015.
JISCO stated that increases in finished steel prices contributed to its net profit in 2016.