Shagang Group posts gross profit of RMB 5.05 billion for 2016

Jiangsu Province-based Chinese steelmaker Shagang Group has announced an operating revenue of RMB 198.3 billion ($28.95 billion) for 2016, with a gross profit of RMB 5.05 billion ($0.74 billion). Accordingly, Shagang Group has achieved a profit in each of the last eight years.