Anhui Province-based Chinese steel producer Ma’anshan Iron and Steel (Masteel) has announced that its net profit for 2020 is expected to amount to RMB 1.979 billion ($0.31 billion), up 75.44 percent year on year.
The company said its outputs of pig iron, crude steel and finished steel increased, resulting in a better business performance in 2020.
$1 = RMB 6.4623