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It's reported that the Chinese steelmaker Liuzhou Steel released its financial result for the first quarter of this year.In the first quarter of this year, the company's operating revenues totaled RMB9.38 billion, down 1% year on year and its net profits were at RMB82.49 million, soaring from RMB10 million in the same period of a year ago.Liuzhou Steel stated that the low-priced iron ore purchased in a quarter ago help to rise its net profits in the first quarter of this year.