Beijing-based Chinese steelmaker Shougang Iron and Steel Co. (Shougang) has announced that it expects to record a net profit of RMB 900-950 million ($132.4-139.7 million) for the first half of the current year, compared to a net profit of RMB 16.45 million in the corresponding period last year.
Shougang stated that its performance improved in the first half this year due to the relatively high levels of finished steel prices.