Liaoning Province-based Chinese steelmaker Angang Steel Co. (Ansteel) has announced that it expects to record a net profit of RMB 300 million ($44.91 million) for the first half of the current year, compared to the net profit of RMB 155 million recorded in the same period of 2015.
Ansteel stated that it the rising trend of finished steel prices, reduced expenditure and improved product structure contributed to its increased profitability in the given period.