Liaoning Province-based Chinese steelmaker Angang Steel Co. (Ansteel) has announced that it expects to record a net profit of RMB 977 million ($145.17 million) for the January-September period of the current year, compared to the net loss of RMB 888 million recorded in the same period of 2015.
Ansteel stated that the rising trend of finished steel prices, its reduced expenditure and its improved product structure all contributed to its increased profitability in the given period.