China’s Baosteel profit down in 2013

Publish time: 14th January, 2014      Source: ChinaCCM
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According to report, China's Baosteel announced it preliminary result for its net profit declined 44% to RMB5.781 billion in 2013 compared to a year earlier.

The profit down may come from the sale of stainless and special steel assets in April 2012 to its parent company, according to the company.

Its fourth quarter gross profit rose by 4% from compared to the previous quarter to 1.45 billion.

China's crude steel production soared by 9.35% to 752 million tons in 2013, according to latest statistics from the China Iron and Steel Association.