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Steel company earnings soar

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Xingtai Iron and Steel Co made 91 million yuan (about HK$84.51 million) in pre-tax profit in the first 10 months this year, up 127 per cent from a year earlier, the Economic Daily reports. Sales of the Hebei steel-maker reached 1.15 billion yuan in the period to October, up 39.2 per cent. Xingtai's exports were US$21 million in the period, the report said.

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