Hebei Province-based Chinese steelmaker Hebei Iron and Steel Co. (Hebei Steel) has announced that in the first half of the current year it registered an operating revenue of RMB 42.431 billion ($6.63 billion), down 16.27 percent year on year, with a net profit of RMB 357 million ($55.78 million), up 7.23 percent year on year.
In the given period, Hebei Steel produced 15.7415 million mt of pig iron, 15.9559 million mt of crude steel and 14.7468 million mt of finished steel, rising by six percent, 5.19 percent and 0.02 percent year on year, respectively.
Hebei Steel stated that the decreases in purchase prices for raw materials positively influenced its profitability in the given period.