Fujian Province-based Chinese steelmaker Fujian Sangang (Group) Co., Ltd has announced that in 2012 its total crude steel output totaled 6,977,700 mt, up 22.06 percent compared with2011. In addition, in 2012 the company achieved a gross profit of RMB 81.0167 million ($13 million), down 88.54 percent year on year.
In 2011, Fujian Sangang had produced 5,716,400 mt of crude steel and achieved a gross profit of RMB 707 million ($113 million), up 2.06 percent and 4.27 percent respectively, both year on year.