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[Ferro-Alloys.com]Taigang Stainless, the largest stainless producer in China, has released its sales report for the first half of 2012.

The firm forecasted that its H1 net profit attributable to shareholders would be at CNY 251.53 million to CNY 419.21 million, slumping by 50% to 70% in comparison of CNY 838.42 million in the same period of a year earlier.

Taigang Stainless indicated that its net profits decreased substantially in the first half of this year due to weak demand and low steel prices.

Meanwhile, the firm announced to remain the export prices unchanged for September 2012.