On August 26, Hubei Province-based Chinese steelmaker Wuhan Iron and Steel Co. (WISCO) issued its financial results for the first half of the current year.
In the given period, WISCO's operating revenue amounted to RMB 44.398 billion ($7.25 billion), down 2.01 percent year on year. Meanwhile, due to significant increases in sales of high-speed heavy steel rails and other key products, the company recorded a net profit of RMB 461 million ($75.3 million) in the first half this year, up over 141 percent year on year.
In the first six months this year, WISCO's outputs of pig iron, crude steel and finished steel amounted to 9.4955 million mt, 9.7599 million mt and 9.1488 million mt respectively.