Inner Mongolia Baotou Steel Union forecasts drastic profit growthStaff Writer | January 28, 2019
Inner Mongolia Baotou Steel Union Co., a major steel producer, forecast that its net profits will jump 45.46 percent year on year in 2018, according to a statement the company filed with the Shanghai Stock Exchange.
Asia Net profits are expected to hit around 3 billion yuan
In 2018, the company increased steel exports to countries and regions along the Belt and Road and made great efforts to develop high value-added products such as rare-earth steel, which accounted for its hefty profit margins, according to the statement. ■