Ansteel's first-half net profit shed 92 percent to 220 million yuan due to surging raw material and fuel costs. Output of steel and pig iron was off 5.18 percent and 3.68 percent, to 10.02 million tons and 10.35 million tons respectively. Industry insiders noted there was, not surprisingly, a decline in half-year profits of a number of steelmakers like Masteel, Liuzhou Steel and Shagang. But the odds the industry could see positive results in the third and fourth quarters are rising.

Source:nhcl