Valin Steel returns to profit in 2013
Tuesday, 28 January 2014 13:59:11 (GMT+3)
|
Shanghai
On January 27, Hunan Province-based Chinese steelmaker Hunan Valin Iron & Steel Co. (Hunan Valin Steel) announced that in 2013 it achieved an estimated net profit of RMB 70-120 million ($11.5-19.7 million), compared with a net loss of RMB 3.25 billion in 2012.
Valin Steel stated that it achieved a net profit amid the difficult situation in the steel industry and the downtrend of steel prices by improving efficiency and reducing costs, as well as by lowering its purchasing costs of raw materials over the past year against the backdrop of the appreciation of the Chinese currency.
Similar articles