Shanghai-based Chinese steel giant Baosteel announced on March 29 that in 2012, its annual operating revenue reached RMB 191.136 billion ($30.73 billion), down by 14.1 percent compared to RMB 222.505 billion ($35.77 billion) recorded in 2011. Meanwhile, the net profit was RMB 10.386 billion ($1.67 billion), up by 41.1 percent year on year.
The decrease in 2012 operating revenue was mainly attributed to sale of stainless steel and special steel related assets, production halt in Luojing district of Shanghai and declining products prices.
According to data published by Baosteel, in 2012, its domestic market share amounted to 50 percent in cold rolling auto sheet, 19.6 percent in silicon steel and 26.5 percent in tinplate, indicating Baosteel’s leading role of high grade products in China. In the given period, Baosteel exported iron and steel products totally 2.4 million mt, down 345,000 mt year on year.
2012 sales volume of Baosteel are seen below (figures in metric tons)::
Product |
Sales volume in 2012 |
Year-on-year change (%) |
Carbon CRC |
9.4 million |
-1.1 |
Carbon HRC |
8 million |
-3.4 |
Wide plate |
1.8 million |
-20.2 |
Steel pipe |
1.49 million |
-0.3 |
Stainless steel |
617,000 |
-54.4 |
Special steel |
199,000 |
-79.3 |
Other steel products |
1.95 million |
6.6 |
Total |
23.56 million |
-8.7 |
On the other hand, in 2013, Baosteel plans to produce 21.49 million mt of pig iron, 22.56 million mt of crude steel and 22.26 million mt of commercial billet. Its operating revenue is expected to reach RMB 171.5 billion ($27.57 billion) in 2013.