Shagang achieves net profit of RMB 2 billion in 2013

Jiangsu Province-based Chinese steelmaker Shagang Group has stated that in 2013 it achieved a gross profit of RMB 5.78 billion ($0.96 billion) and a net profit of RMB 2 billion ($0.33 billion). Furthermore, the steel producer said that for 2014 it is targeting a pig iron output of 32.6 million mt, a crude steel output of 36 million mt and a finished steel output of 35.6 million mt, while it is targeting a gross profit of RMB 9.2 billion ($1.52 billion) for the year.
 
Shagang has not yet issued its output figures for 2013. Its output targets for the year included 31.5 million mt of pig iron, 36 million mt of crude steel and 35.5 million mt of finished steel. In 2012, Shagang had produced 28.76 million mt of pig iron, 32.3 million mt of crude steel and 31.5 million mt of finished steel, with increases of 6.9 percent, 1.2 percent and 1.4 percent year on year, respectively. Its sales revenues in 2012 had totaled RMB 218 billion ($36.02 billion), while it had recorded a gross profit of RMB 5 billion ($0.83 billion) for the year.