Jiangsu Province-based Chinese steelmaker Shagang Group has recently issued its financial results for the first half of the current year.
Accordingly, the company's net profit for the given period totaled RMB 8.806 million ($1.44 million), indicating a decrease of 74.23 percent compared to the corresponding period in 2012. Meanwhile, Shagang achieved an operating revenue of RMB 5.16 billion ($843.1 million) in the given period, down 19.08 percent year on year and its operating profit totaled MRB 5.8549 million ($95,668), down 91.29 percent, also year on year.
During the first six months, Shagang produced 1.43 million mt of pig iron and 1.49 million mt of crude steel, down 4.24 percent and 4.11 percent year on year, respectively.
Additionally, in the first half of this year, Shagang exported 46,500 mt of finished steel products.