Gansu Province-based Chinese steelmaker Jiuquan Iron and Steel (Group) Co. (JISCO) has announced that in the first half of this year it achieved an operating revenue of RMB 54.12 billion ($8.5 billion) and a net profit of RMB 730 million ($115 million), up 30.6 percent and down 46.3 percent respectively, both year on year. JISCO stated that its operating revenue and net profit targets for the current year are RMB 100 billion ($15.8 billion) and RMB 1 billion ($158 million) respectively.
In the first half of the current year, JISCO produced 3,939,500 mt of pig iron, 5,073,400 mt of crude steel and 5,084,700 mt of finished steel, up 7.51 percent, 2.42 percent and 6.48 percent respectively, all on year-on-year basis.