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Baosteel says will return to black in Q1

(Agencies)
Updated: 2009-03-30 17:10

China's Baoshan Iron and Steel Co Ltd (Baosteel), the country's largest steel maker, expects to return to the black in the first quarter of this year after losing 6 billion yuan ($878 million) in the previous quarter, its president said on Monday.

"The listed company did not suffer a net loss in the first quarter, although the industry confronted a very tough market," Fu Zhongzhe told an online briefing.