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Chinese steel giant Angang Steel Co. (Ansteel) announced on April 2nd that it turned profitable in the first quarter this year with net profit expected to reach RMB 550 million.Ansteel dedicated its reform in the management and operations, focusing on issues including raw material resource allocation, sales strategy and production cost control from the net losses recorded of US$663 million in 2012 and US$2.146 billion in 2011.