Jiangsu Province-based Chinese steelmaker Sha Iron and Steel Co. (Sha Steel) has announced that its sales revenue in 2011 amounted to RMB 207.5 billion ($32.94 billion). Despite the challenging market situation, Sha Steel said that in 2011 it was able to maintain strong and stable development by adjusting its product structure, by expanding research and development for new products and via its innovative internal management.
According to Sha Steel, in 2011 it developed 20 new high-tech and high-value products, including high-strength steel plates for ships and pressure vessels.
In the given year, Sha Steel's exports, including high-quality wire rod and wide plate, totaled 2 million mt, worth $1.5 billion, up 3.3 percent and 26 percent year on year, respectively.