China Metallurgical News reported that Shandong Iron and Steel Group has realized a profit of more than CNY 1 billion in July this year with Laiwu Steel taking CNY 800 million of the total a shining point in the national steel industry as a whole.

As per report, Shandong Steel began to make profits since June after the world financial crisis.

The group gained CNY 0.435 billion in total with Jinan Steel and Laiwu Steel realizing CNY 34 million and CNY 399 million respectively in the month. And then in July the steel mill realized profits surpassing CNY 1 billion.

(Sourced from China Metallurgical News)