Steel prov­ince in ro­bust profit rise

China Daily (USA) - - BUSINESS -

North­ern China’s He­bei prov­ince, home to a quar­ter of China’s steel man­u­fac­tur­ing, re­ported ro­bust profit growth in the first half this year af­ter a dras­tic price plunge last year, ac­cord­ing to the pro­vin­cial met­al­lur­gi­cal in­dus­try as­so­ci­a­tion. Steel mak­ers in the prov­ince made 15 bil­lion yuan ($2.2 bil­lion) in prof­its in the first six months, up 181 per­cent year-onyear. The profit mar­gin stood at 3.02 per­cent, the as­so­ci­a­tion said.

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