Shandong Steel’s net profit up 24.8 percent in 2020

Wednesday, 31 March 2021 13:54:44 (GMT+3)   |   Shanghai

Shandong Province-based Chinese steelmaker Shandong Iron and Steel (Shandong Steel) has issued its financial report for 2020, announcing that Shandong Steel Group realized an operating revenue of RMB 87.317 billion ($13.3 billion) for the year, up 22.82 percent year on year, and a net profit attributable to the shareholders of the listed company of RMB 723 million ($110.2 million), up 24.8 percent year on year.

In 2020, Shandong Steel Group produced 13.84 million mt of pig iron, 16.27 million mt of crude steel and 16.01 million mt of finished steel.

Furthermore, Shandong Steel Group plans to produce 14.25 million mt of pig iron, 16.55 million mt of crude steel and 16.32 million mt of finished steel in 2021.

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