ShangSteel announces sales revenue expectation

ShangSteel announces sales revenue expectation

According to recent market reports, Chinese steelmaker ShangSteel announced that its sales revenue will reach Yuan 20 billion ($2.4 billion) in 2003, with an increase of 37.9% compared to 2002. Furthermore, iron production is expected to amount 1.2 million tons in 2003 with a 28.6% increase while the productions of steel and rolling will reach 4.8 million tons and 5.7 million tons, with an increase of 32.4% and19.7% respectively. Company's sales revenue is anticipated to reach approximately Yuan 25 billion ($3 billion) in 2004.