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Baosteel's 9-month Net Profits Soar

Baosteel's 9-month Net Profits Soar

Write: Shiv [2011-05-20]
Tags: the yuan

Baosteel forecast a rise of between 170 percent and 190 percent in its net profits in the first three quarters of this year over the corresponding period of 2009, beating the previous expectation of up to 160 percent in its half-year report.

The steel company attributed the surge to a better market situation, higher sales prices and the appreciation of the yuan.