Shanghai-based Chinese steelmaker Baoshan Iron and Steel Co. Ltd (Baosteel) has issued its financial report for the first half of the current year, stating that in the given period it achieved an operating revenue of RMB 97.598 billion ($15.84 billion), up 1.56 percent year on year, while it recorded a net profit of RMB 3.154 billion ($ 0.51billion), down 14.82 percent year on year.
In the given period, Baosteel produced 10.890 million mt of pig iron, 11.149 million mt of crude steel and 11.214 million mt of finished steel, while it produced 11 million mt of pig iron, 11.41 million mt of crude steel and 11.08 million mt of finished steel in the first half of 2013.
In the report, Baosteel stated that the 88 large and medium-size steelmakers in China registered an overall gross profit of RMB 7.48 billion ($1.21 billion) in the first half of the current year, up 133.5 percent year on year, while Baosteel realized a gross profit of RMB 4.47 billion ($0.73 billion) in this period, accounting for nearly 60 percent of the 88 steelmakers' overall gross profit, thereby continuing to indicate the best performance among Chinese steelmakers.
