Shanghai-based Chinese steelmaker Baoshan Iron and Steel Co. Ltd (Baosteel) has stated that it expects its net profit for 2018 to increase by RMB 1.5-2.3 billion ($0.22-0.34 billion),i.e., by 8.0-12.0 percent, on year-on-year basis.
In 2017, Baosteel had achieved a net profit of RMB 19.17 billion.