Hubei Province-based Chinese steelmaker Wuhan Iron and Steel Co. (WISCO) has announced that in the first half of the current year it recorded an operating revenue of RMB 34.518 billion ($5.39 billion), down 30.61 percent year on year, with a net profit of RMB 521 million ($81.41 million), decreasing by 9.81 percent year on year.
WISCO stated that the decreases in finished steel prices and the devaluation of the Chinese currency were main reasons for the decline in the company’s operating revenue in the given period.