Beijing-based Chinese steelmaker Shougang Iron and Steel Co. (Shougang) has stated that it expects to register a net profit of RMB 1.42-1.45 billion (0.21-0.22 billion) for the first half of the current year, up 49.65-52.81 percent year on year.
The company stated that supply-side reform and environmental protection measures contributed to the improvement in the performance of the finished steel market in the given period. Meanwhile, the company optimized its product structure and improved its management and service, resulting in its better performance in the first half of the year.