Shandong-based Chinese steel producer Laiwu Steel has announced that in May this year it achieved business revenues of RMB 6.6248 billion ($1.05 billion), while recording a net profit of RMB 33 million ($5.24million).
In May, Laiwu Steel's total sales of finished steel showed a month-on-month increase of 30,500 mt, with finished steel sold to domestic market up 11,700 mt and finished sales to the export markets increasing by 18,800 mt, both month on month.
Laiwu Steel stated that it has been facing the challenges in the market by increasing production and adjusting its product structure.