Anhui Province-based Chinese steelmaker Masteel has announced that in the first quarter of the year it achieved an operating revenue of RMB 18.30 billion ($2.9 billion), up 5.6 percent year on year, and a net profit of RMB 1.42 billion ($230 million), up 57.25 percent year on year.
In the given quarter, Masteel produced 3.7 million mt of pig iron, 3.99 million mt of crude steel and 3.67 million mt of finished steel, down 2.89 percent, 1.72 percent and 2.13 percent year on year.