Chinese stainless steel producer Taiyuan Iron and Steel Inc. has released its production report for the first quarter of 2010.
In the first quarter, Taiyuan Steel produced 2.462 million mt of finished steel products, up 4.22 percent year on year. The company produced 713,400 mt of stainless steels in the period in question, posting an increase of 45.47 percent year on year. Meanwhile, its operational revenue reached RMB 26.72 billion, up 59.06 percent, its net profit rose by 165.17 percent to RMB 507 million, while its total pre-tax profit climbed up by 476.12 percent to RMB 971 million - all on year-on-year basis.
On the export side, during the first three months of 2010 Taiyuan Steel registered year-on-year increases of 465.49 percent and 381.83 percent respectively in its finished steel and stainless steel export volumes.