In May this year, Chinese steelmaker Jinan Iron & Steel Group Corporation, a subsidiary of Shangang Group, achieved its best monthly business results since the start of the financial crisis.
In the month in question, the steelmaker produced 0.76 million mt of crude steel, 0.719 million mt of pig iron and 0.806 million mt of finished steel, up 3.3 percent, 4.6 percent and 13.6 percent year on year respectively. Meanwhile, the company's sales revenues for the given month amounted to RMB 2.731 billion ($0.41 billion), up RMB 220 million ($32.31 million) year on year, while its net profit was RMB 204 million ($29.96 million), up RMB 253 million ($37.51 million) year on year. In the January-May period this year, the steelmaker's aggregate net profit came to RMB 305 million ($44.79 million).
(US$1 = RMB 6.81)