Jiangsu Province-based Chinese steelmaker Nanjing Iron and Steel Co., Ltd (Nanjing Steel) has issued its financial report for the January-June period this year, stating that it registered an operating revenue of RMB 31.131 billion ($4.6 billion) in the given period, up 7.55 percent year on year, while posting a net profit of RMB 1.322 billion ($0.195 billion) in the first six months, down 9.64 percent year on year.
In the first six months this year, Nanjing Steel's advanced steel products sales amounted to 1.4519 million mt, rising by 114,700 mt, accounting for 30.57 percent of its total finished steel sales in the given period, 0.8 percentage points higher than the same period last year.
In the first half of the year, the growth in sales of advanced steel materials was primarily concentrated in three areas: automotive steel orders rose steadily on the back of robust demand for new energy vehicles and high-strength steel; X70 pipeline steel was approved for supply to Saudi Aramco; and sales in the wind power sector posted growth.
