Guangxi Zhuang Autonomous Region-based Chinese steelmaker Liuzhou Iron and Steel Co. (Liuzhou Steel) has issued its financial report for the first half of 2017, announcing an operating revenue of RMB 19.095 billion ($2.867 billion), up 55.45 percent year on year, and a net profit of RMB 395.61 million ($59.4 million), up 400.81 percent compared to the net profit of RMB 78.9937 million in the same period of 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 half of the year. Meanwhile, the company made improvements in its management in the given period.