Chinese steel producer Shandong Iron and Steel Groups Shandong Province based subsidiary Shandong Iron and Steel Co Ltd has reported net profit slump 65.58% YoY in the first half of 2019. The company’s net profit attributable to shareholders reached CNY 577.5 million (USD 81.5 million) in the first six months, compared with CNY 1.68 billion in the same period last year. Over the period, the company saw its revenue reach 32.35 billion yuan, up 30.06% YoY.
It produced 5.43 million tonnes of crude iron, 6.26 million tonnes of steel and 5.72 million tonnes of steel products in the first half, up 16.03%, 24.86% and 19.53% YoY
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