Shagang produces 26.4 million mt of crude steel in 2009

Wednesday, 03 February 2010 11:29:06 (GMT+3)   |  
       

On February 2, Jiangsu Province-based Chinese steelmaker Shagang announced that in 2009 it produced 26.4 million mt of crude steel and achieved sales revenues of RMB 146.3 billion ($21.43 billion), recording a net profit of around RMB 5 billion ($732.33 million). Although the company only ranks fifth in China as regards steel production capacity, it is second only to Baosteel in terms of its business results.

In addition to its four main product categories of coils, high speed wire rod, rebar and wide and heavy plate, Shagang has been striving to develop new products including steel for low-temperature pressure containers, high strength steel for automobiles, spring steel for automobiles and other special-purpose steels.

For 2010, Shagang is targeting a crude steel output of at least 30 million mt and a finished steel output of 29 million mt, with targeted sales revenues of RMB 165 billion.


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