Guangxi Zhuang Autonomous Region-based Chinese steelmaker Liuzhou Iron and Steel Co. (Liuzhou Steel) has stated that it expects its net profit for the first half of the current year to increase by RMB 1.565-1.851 billion ($0.23-0.28 billion) compared to the net profit of RMB 396 million recorded in the same period last year.
The company stated that increased demand from downstream users in the first half of this year and measures to lower cost contributed to its improved performance in the given period.