It is reported that Handan Steel a subsidiary of Hebei Iron & Steel Group first half net profit up by 10.7% to CNY 555 million amid the spiking raw material prices.

    Handan's trading profit surged 18.88% YoY to CNY 870 million in the first half with gross profit posting at CNY 740 million up by 1.1%.

    In January to June, due to shortages for hot metal, output of crude steel and steel products stood at 2.89 million tonnes and 2.71 million tonnes down by 4.88% and 3.1% respectively.