Guangxi Province-based Chinese steelmaker Liuzhou Iron and Steel Co., Ltd announced that its net profit is expected to rise by RMB 1.04-1.191 billion ($0.16-0.18 billion) in the first half of the current year, up by 134.81-154.38 percent year on year.
The recovery of China’s economy and of fixed asset investment in the country pushed up steel prices and contributed to the improvement in Liuzhou Steel’s net profit for the given period.
Liuzhou Steel’s parent company, Guangxi Province-based Liuzhou Steel Group, has an annual steelmaking capacity of 23 million mt.