Hebei Steel H1 Profit Up 975 pct

Hebei Iron and Steel (Hebei Steel) reported a half-year profit of 720 million yuan, up 974.89 percent from a year earlier, as the Chinese largest steelmaker benefited from a nationwide sales recovery due to the reviving economy. The mill's revenues surged 43.43 percent to 58.69 billion yuan. Hebei Steel produced 12.75 million tons of pig iron, up 29.38 percent; 12.93 million tons of steel, up 24.12 percent; 12.32 million tons of finished steel, up 30.25 percent; and 86,500 tons of vanadium slag, up 52.88 percent.