Chongqing-based Chinese steel producer Chongqing Steel Group (Chongqing Steel) has announced its production data and financial results for 2010.
Accordingly, in 2010, Chongqing Steel produced 4.44 million mt of pig iron, up 37.67 percent, 4.56 million mt of crude steel, rising by 38.94 percent, and 4.27 million mt of finished steel, increasing by 32.65 percent - all compared to the previous year.
During the year in question, Chongqing Steel achieved a total sales income of RMB 22 billion ($3.3 billion), increasing by 41.03 percent year on year. At the same time, its net profit amounted to RMB 310 million ($47 million), almost the same as in 2009. At the end of 2010, Chongqing Steel held assets with a total value of RMB 52.4 billion ($8 billion), up 38 percent year on year. In 2010, Chongqing Steel's shipbuilding plate sales reached 1.71 million mt, ranking second in China.
Meanwhile, Chongqing Steel's sales income generated from non-steel sectors in 2010 came to RMB 8.731 billion ($1.33 billion), accounting for 28.4 percent of the company's total sales income.
In addition, Chongqing Steel stated that it has also made progress in the development of new products. In 2010, the steel producer rolled 614,500 mt of newly-developed steel product and steel products with special requirements.