Inner Mongolia Autonomous Region-based Chinese steelmaker Baotou Iron and Steel Group Co., Ltd has posted sales revenues of RMB 45 billion ($6.8 billion) for 2010, compared to RMB 37.871 billion ($5.7 billion) in 2009. Meanwhile, Baotou Steel Group's net profit earned in 2010 amounted to RMB 2 billion ($301.7 million).
Furthermore, in 2010 Baotou Steel Group produced 9.7019 million mt of pig iron, up 0.52 percent year on year, and 10.1153 million mt of crude steel, up 0.47 percent year on year, and 9.5397 million mt of commercial grade billet.
Baotou Steel Group's sales of steel for application in the railway sector constitute one of the main sources of profit for the company. In line with the rapid construction of domestic high-speed railways, it is expected that Baotou Steel will continue to benefit as a rail steel manufacturer which has been approved by China's Ministry of Railways.