Hebei Province-based Chinese steelmaker Hebei Iron and Steel Group has announced that its subsidiary Tangshan Iron and Steel Co. has signed a contract with Anhui Honglu Steel Construction (Group) Co. for the direct supply of 10,000 mt of Q345B structural steel. So far, 5,540 mt of the structural steel in question has been delivered to the customer.
Meanwhile, Tangshan Steel’s subsidiary Tanggang Guangyuan Metallurgical Charge Co. has posted a net profit of RMB 2.72 million ($0.43 million) for 2012, compared to a net loss in 2011.
Tanggang Guangyuan also achieved a net profit of RMB 840,000 in January this year, compared to a net profit target of RMB 10 million ($1.6 million) for the whole of 2013.