In January-May this year, Fujian Province-based Chinese steelmaker Sangang Group's total pig iron output amounted to 1.93 million mt, its crude steel output was 2.41 million mt, while its finished steel production came to 2.33 million mt. The pig iron output volume was unchanged from last year, while the crude steel and finished steel outputs indicated respective year-on-year increases of 5.35 percent and 12.37 percent.
During the period in question, the company sales revenues totaled RMB 8.792 billion ($1.29 billion), up 22.51 percent year on year, while its net profit reached RMB 282 million ($41.41 million), up 147.64 percent year on year.
(US$1 = RMB 6.81)