Shanxi Province-based Chinese stainless producer Taigang Stainless Steel Co. (Taigang Stainless Steel), a listed subsidiary of Taiyuan Iron and Steel (Group) Co. (TISCO), has announced that it expects to record a net profit in the range of RMB 2.0-2.25 billion ($0.3-0.34 billion) for the first nine months of the current year, compared to a net profit of RMB 842.27 million in the same period last year.
Taigang Stainless Steel stated that the improvement in China’s finished steel market, the optimization of its management structure and the improvement in its product quality contributed to its increased profitability in the given period.