It is reported that Shandong Steel realized CNY 56.7 billion of sales revenue in January to August and accumulatively made CNY 440 million of profit the first time to turn this year’s loss into profit.

The steelmaker realized CNY 1,014 million of profit in July, then CNY 707 million in August. The accumulated profit covered the steelmaker loss in January to June at one stroke.

As per report, the steelmaker presents better production operation at present. In order to fulfill the yearly production target, Shandong Steel signed letters of responsibility with its eight subsidiaries including Jinan Steel and Laiwu Steel. The parent company aims to record CNY 1,500 million of profit in total in this crisis-hitting year.

(Sourced from MySteel.net)
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