Shanxi Province-based Chinese stainless producer Taigang Stainless Steel Co. (Taigang Stainless Steel) has announced in its preliminary annual report for 2016 that it expects to record a net profit in the range of RMB 1.05-1.25 billion ($153.06-182.21 million), compared to the net loss of RMB 3.7114 billion recorded in 2015.
Taigang Stainless Steel stated that the rising trend of finished steel prices and its optimization of product variety contributed to its net profit in the given year.