Anhui Province-based Chinese steelmaker Magang Group Holding Co., Ltd (Magang Group) has announced that it achieved an operating revenue of RMB 80.2 billion ($12.2 billion) in 2017, with a gross profit of RMB 5.8 billion ($0.88 billion).
Meanwhile, Magang Group eliminated 640,000 mt of steelmaking capacity and 620,000 mt of iron-making capacity in 2017.