S. dollars), down 4.29 percent from last year, and net profit was 7.959 billion yuan (1.12 billion U.
S. dollars) for the period. This is 35.32 percent more than last year.
The company said that during this period, steel prices fell less than the prices of raw materials, widening the gap between purchase and sale and contributing to the annual growth of its net profit.
In the period from July to September of this year, Baosteel's operating revenue was 81.064 billion yuan (11.4 billion U.
S. dollars), up 1.83 percent from last year, and its net profit for the period was 3.081 billion yuan (0.43 billion U.
S. dollars), up 130.31 percent from last year
In the first nine months of this year, Baosteel produced 36.48 million tons of pig iron, 38.787 million tons of crude steel and 39.262 million tons of finished steel, down 0.5 percent, down 2.08 percent and up 1.97 percent, respectively, year-on-year calculus.
