The largest metallurgical company of China – Baosteel- increased profit
Edited by Rhod Mackenzie / 2015-08-25 11:09:59
The leader of the Chinese metallurgical sphere Baoshan Iron & Steel has reported of an insignificant growth of its profit in H1 2015 by 0.65% to almost $500 (3.17 bln yuans), is reported on the Shanghai stock exchange.
Not taking into account the devaluation of the yuan, the net profit of Baosteel rose by 10% against H 1 2014.
The steel sector of China has entered into the winter mode as the demand for metal products of deep processing had significantly fallen, the competition escalates and the ecological requirements to producers become stricter, the company said.
