The Net Deficiency of Pangang Vanadium Titanium Has Been Announced in H1

On August 20, Sichuan Province-based Chinese steelmaker Pangang Group Vanadium Titanium & Resources Co., formerly Pangang Group Steel Vanadium & Titanium Co., announced its financial results for the first half of the current year. Accordingly, in the first half of the year the company achieved an operating revenue of RMB 7.857 billion ($1.28 billion), down 5.4 percent year on year. Meanwhile, in the given period the company's net profit totaled RMB 345 million ($56.35 million), down 52.71 percent year on year

In the period in question, Pangang Group Vanadium Titanium & Resources' financial results were impacted by reduced prices of iron ore concentrate and titanium products amid the difficult macroeconomic situation at home and abroad.