On August 12, Liaoning Province based Chinese steelmaker Lingyuan Iron and Steel Co. (Lingyuan Steel) issued its financial results for the first half of the current year.
Accordingly, in the first half of the year Lingyuan Steel achieved an operating revenue of RMB 7.33 billion (USD 1,197 billion), up 10.96 percent, while its net profit for the period was RMB 36.9273 million (USD 6.03 million), up 115.92% both compared to the first half of 2012.
In the first half this year, Lingyuan Steel produced 2.4974 million tonne of crude steel, 2.2209 million tonne of pig iron and 2.4768 million tonne of finished steel, up 46.4%, 47.28% and 43.39% respectively, all on year-on-year basis.