Comprehensive reports that Hebei Iron and Steel announced on the evening of July 12, half-year performance forecast in 2012, January 1, 2012 to 2012 June 30, the company expects net profit of profit attributable to shareholders of listed companies is about 395 million yuan -9880million decreased by 60% -90% comparing the same period of last year.

The announcement said domestic and international macro-economic situation in the first half of 2012 is more severe, the steel industry in the upstream resource prices remain high, the downstream demand slackens, the difficult situation in the steel price dropped significantly, resulting in the company's first-half profit decreased substantially comparing with the same period in 2011.

U.S. "Fortune" magazine recently released the 2012 Fortune 500 toplist, Hebei Iron and Steel Group ranked 269 with $ 38.72 billion, operating income of $ 5.173 billion more than last year, ranking improve 10 over the previous year.This is the only company in Hebei Province which listed among the world's top 500 for four consecutive years,and,short-listed the top 300 enterprises for two consecutive years.

                                                                         From  XINSTEEL NEWS