Jiangxi Province-based Chinese steelmaker Xinyu Iron and Steel Co. (Xinyu Steel) has announced that it expects to record a net profit in the range of RMB 60-100 million ($9.05-15.08 million) for the first half of the current year, compared to the net loss of RMB 137 million recorded in the same period of 2015.
Xinyu Steel stated that it improved its management structure and optimized its product structure amid the rising trend of finished steel prices in China, contributing to its net profit in the given period.