Shagang posts increased output results for January-June

Friday, 30 July 2010 14:14:22 (GMT+2)

In the first half of 2010, Jiangsu-based Chinese steel producer Shagang produced 12.18 million mt of pig iron, 14.53 million mt of crude steel and 13.91 million mt of finished steel, up 16 percent, 16 percent and 27 percent year on year respectively. Meanwhile, in the given period the company registered sales revenue of RMB 84.66 billion ($12.48 billion) and a pre-tax profit of RMB 6.2 billion ($914 million), up 36 percent and 273 percent year on year respectively.

Since early 2010, Shagang has been focusing on the development of new products and on optimizing its product structure, and has succeeded in developing 14 new high value-added products, including both flat steel products and wire rod. In particular, the company has managed to mass-produce new products, including alloy cold heading steel, for various applications such as pressure boilers, corrosion resistant containers and bridges.

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