Shandong Province-based Chinese steelmaker Shandong Iron and Steel Co., Ltd has announced that its net profit is expected to amount to RMB 360-510 million ($56.8-80.4 million) for 2021, up 50-70.6 percent year on year.
In the given year, the company actively dealt with rising raw material prices and the downward pressure on steel prices in the fourth quarter, keeping its operations and management efficient via the optimization of its product structure, which contributed to its good performance in 2021.