Guangxi Zhuang Autonomous Region-based Chinese steelmaker Liuzhou Iron and Steel Co. (Liuzhou Steel) has announced that it expects to register a net profit of RMB 1.255 billion ($0.19 billion) for the first nine months of 2017, indicating a sharp rise compared to the net profit of RMB 124 million recorded in the same period last year.
Liuzhou Steel stated that the elimination of low-grade construction steel contributed to the rising trend of finished steel prices in the first nine months of the year. Meanwhile, the company improved its management and did its best to lower costs in the given period.