Shandong Province-based Chinese steelmaker Xiwang Special Steel Co., Ltd.(Xiwang Special Steel) has announced that it expects to realize a rise of
150 percent in its net profit for 2017.
The company stated that steel supply decreased due to elimination of outdated capacity in 2017, while at the same time demand was stable and finished steel prices continued to rise, which contributed to the improvement in its operations in the given year.