Shandong Province-based Chinese steelmaker Jigang Group has successfully developed
production of hot rolled high-strength DP 600 grade duplex
stainless steel and has accordingly applied for a national patent, as reported by
China Metallurgical News.
Meanwhile, Jigang Group has announced that it expects to post an operating revenue of RMB 11.8 billion ($1.9 billion) in its non-steel business in 2011, up 1.5 percent year on year. Net profit in the non-steel business of Jigang Group in 2011 is expected to reach RMB 483 million ($77 million), up RMB 100 million ($16 million) or 26 percent year on year.