BAOSTEEL NET PROFIT DOWN BY 43,4% ON YtY BASIS

As reported yesterday by Reuters, BAOSTEEL, the biggest chinese steel produced, obtained 1,2 billions US$ net profit in 2011, which is 43,4% less than previous year. Net earnings amounts 3,4% of the income that attains 35,4 billions US$.

Baosteel reported that February prices will be maintained at January 2012 level.