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Baosteel’s Bountiful Bonanza Befuddles Bearish Beliefs
Baosteel, China's largest listed steelmaker, more than doubled its profit in the third quarter. The company earned a net profit of 3.08 billion yuan, a 130% increase from last year. Strong demand from manufacturing and energy sectors, along with growing exports, drove the results. Baosteel's export orders grew by 10.9% in the first nine months of the year.
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