Baosteel forecasts a staggering 600 percent to 1,000 percent jump of its net profits in the first half of this year, thanks to expanding sales price and volume. In the first quarter, the company had a net profit of 3.93 billion yuan, compared with 90 million yuan in the same period in 2009. Baosteel obtained a net profit of 669 million yuan in the first quarter of 2009.
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