Jiangsu Province-based Chinese steel producer Jiangsu Shagang Co., Ltd (Jiangsu Shagang), a subsidiary of Chinese steelmaker Shagang Group, has announced that in the first half of the current year it registered an operating revenue of RMB 3.33 billion ($0.50 billion), down 18.03 percent year on year, with a net profit of RMB 65.735 million ($9.91 million) compared to the net loss of RMB 62.918 million recorded in the same period of 2015.
In the first half of the current year, Jiangsu Shagang produced 1.5045 million mt of pig iron, 1.5258 million mt of crude steel and 1.5008 million mt of finished steel, equivalent to 50 percent, 48 percent and 48 percent of the company’s annual targets, respectively.