Chinese steel producer Maanshan Iron and Steel o Ltd said that its first-half net profit fell K.I per cent as raw material and coal costs rose. Before the results announcement, some analysts were cautious on the producer's outlook amid fears of weaker spot steel prices and heavy investments in coming years. The country's number-three steel maker said it earned 2.13 billion yuan (US263 million dollars) for the six months ended June, compared with 2.32 billion yuan a year earlier. The results beat market forecasts of 3.95 billion yuan, based on the average forecast-of four analysts polled by Reuters.
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