Major Chinese steelmaker Baosteel has announced that its net profit amounted to RMB 2.434 billion ($0.34 billion) in the January-March period this year, up 26.4 percent year on year.
In the given quarter, Baosteel registered an operating revenue of RMB 72.88 billion ($10.1 billion), down 9.8 percent year on year.
In 2025, Baosteel plans to produce 48.79 million mt of pig iron and 52.61 million mt of crude steel, while aiming to sell 52.24 million mt of finished steel.