Handan Iron & Steel increases exports
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Chinese steel producer Handan Iron & Steel Group reportedly increased export sales as domestic demand started to decrease following the measures taken by the government to slow down the economic growth. Statistics indicate that Handan Iron & Steel exported 34'600 metric tons of high quality steel sheets to foreign countries in April-June period. The figure is stated to be the highest export volume Handan has reported in a three-month period. Moreover, the company's output in the first six months of 2004 increased by 14.9% to 3.3 million tons against output recorded in the corresponding period of previous year. Again in the same period, net profit of the company amounted to Yuan 580 million (around $70 million), up by 14.3% against the same period of 2003.
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