SGIS Songshan returns to profit in 2013
Thursday, 13 March 2014 11:42:09 (GMT+3)
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Shanghai
Guangdong Province-based Chinese steel rolling and processing company SGIS Songshan Co., an affiliate of Guangdong-based Shaoguan Iron and Steel Co. (Shaogang), has announced that it achieved operating revenue of RMB 20.7 billion ($3.38 billion) in 2013, down 0.48 percent year on year, while it recorded a net profit of RMB 101 million ($16.5 million) in the given year, compared to a net loss of RMB 1.95 billion in 2012.
In 2013, SGIS Songshan produced 6.16 million mt of pig iron, up 11 percent, 6.17 million mt of crude steel, up 12 percent, 5.91 million mt of finished steel, rising by 10 percent, 8.8 million mt of sintering ore, increasing by four percent, and 1.78 million mt of coke, remaining unchanged, all compared to the previous year.
Meanwhile, on March 12 Shaogang announced that its special steel has been approved for supply to Baosteel Special Steel.
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