Chongqing-based Chinese steel producer Chongqing Iron and Steel Co. (Chongqing Steel) has issued its financial report for 2017, stating that it achieved an operating revenue of RMB 13.237 billion ($2.1 billion) in the given year, up 199.82 percent year on year, while it recorded a net profit of RMB 320 million ($50.5 million) compared to a net loss of RMB 4.686 billion in 2016.
In 2017, the company produced 3.841 million mt of pig iron and 4.114 million mt of crude steel, up 60.9 percent and 74.7 percent year on year, respectively.
As for 2018, the company plans to produce 5.37 million mt of pig iron and 6.0 million mt of crude steel.