In May this year, crude steel and finished steel outputs in China’s Jiangsu Province declined respectively by 0.1 percent and 4.4 percent year on year, indicating decreases of 0.8 percentage points and 2.0 percentage points compared to the year-on-year percentage changes in output recorded in April this year, reflecting the capacity elimination of the steel industry in Jiangsu, as reported by Xinhua Daily.
Meanwhile, in the January-April period of this year, Jiangsu-based Chinese steelmaker Shagang Group has achieved a gross profit of RMB 3.96 billion ($0.58 billion), the highest gross profit among all private sector steelmaking enterprises in China in the given period, Xinhua Daily stated.