Qinghai Province-based Chinese steelmaker Xining Special Steel Co. (Xining Special Steel) has announced that it registered a net profit of RMB 10.8556 million ($1.6 million) for the first half of the current year, compared to a net loss of RMB 360 million in the same period last year.
In the first half this year, the company produced 455,300 mt of pig iron, down 7.72 percent year on year; while it produced 541,700 mt and 601,100 mt of crude steel and finished steel, up 0.38 percent and 11.58 percent year on year, respectively.
The company stated that optimization of its product structure and improvement in service and cost control contributed to its improved performance in the first half of the year.