Beijing-based Chinese steelmaker Shougang Corporation Ltd announced its Q3 2010 results on October 26. The steelmaker's net profit for the quarter reached RMB 239 million ($35.7 million), down 24.84 percent, its turnover amounted to approximately RMB 7.176 billion ($1.07 billion), up 21.62 percent, with its operating costs at RMB 7.337 billion ($1.09 billion), up 31.58 percent, all compared to the corresponding period of 2009.
In the first three quarters of this year, the company reported a net profit of RMB 295 million ($44.1 million), down 28.58 percent, while its turnover totaled RMB 21.44 billion ($3.2 billion), up 27.88 percent, both compared to the first nine months of 2009.