Pangang Steel Vanadium & Titanium maintains profitability in May

Thursday, 13 June 2013 15:29:21 (GMT+3)   |   Shanghai
       

On June 13, Chinese steelmaker Pangang Steel Vanadium & Titanium Plant Co., a subsidiary of Sichuan Province-based Chinese state-owned steel producer Panzhihua Iron and Steel (Pangang Group), announced that it achieved a gross profit of RMB 18.56 million ($3.02 million) in May this year, the third consecutive month in which it has recorded a gross profit despite the lack of an improvement in steel prices and market demand.

In May, Pangang Steel Vanadium & Titanium Plant's production cost for pig iron was RMB 2,198/mt ($358/mt), down RMB 65/mt ($10.6/mt) month on month. Meanwhile, its output of heavy rail in May amounted to an all-time record monthly volume of 110,500 mt.


Similar articles

Japanese crude steel output down 3.8 percent in February from January

27 Mar | Steel News

CISA mills’ daily steel output down 0.51 percent in mid-March

26 Mar | Steel News

US raw steel production down 0.6 percent week-on-week

25 Mar | Steel News

Argentina’s crude steel production declines sharply in February

25 Mar | Steel News

German crude steel output increases by 4.6 percent in January-February

25 Mar | Steel News

Brazilian crude steel production increases in February

22 Mar | Steel News

World crude steel output up 3.7 percent in February

22 Mar | Steel News

Liquid steel consumption in Mexico rises while production falls in January

21 Mar | Steel News

Ukraine’s ArcelorMittal Kryvyi Rih posts lower pig iron output due to Russia’s attacks on energy infrastructure

21 Mar | Steel News

Italian crude steel production down 3.9 percent in February

21 Mar | Steel News