Hunan Province-based Chinese steelmaker Hunan Valin Iron & Steel Co. (Hunan Valin Steel) has stated that the demand from the passenger vehicle industry is relatively stable, with new energy vehicles maintaining good momentum, exerting a positive impact on the demand for the company’s high-end steel sheet used in the automotive industry. It is expected that the demand for the company's high-end automotive sheet will remain stable.
In the January-September period this year, Hunan Valin Steel registered an operating revenue of RMB 111.242 billion ($16 billion), down 7.18 percent year on year, while posting a net profit of RMB 1.77 billion ($0.25 billion), down 56.86 percent year on year.