China's Baoshan Steel posts 61 pct drop in H1 profit
SHANGHAI Aug 23 (Reuters) - China's Baoshan Iron & Steel , the country's biggest listed steelmaker by market value, posted a 61 percent fall in first-half net profit on narrowing margins.
Net profit was 3.7 billion yuan ($604.47 million) in January-to-June, the Shanghai-based company said in a filing to the Shanghai stock exchange on Friday. Two analysts on an average were expecting a net profit of 3.46 billion yuan.
($1 = 6.1211 Chinese yuan) (Reporting by Ruby Lian, Samuel Shen and Kazunori Takada; Editing by Himani Sarkar)
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