China-based steelmaker Hebei Iron and Steel Group announced that the direct selling proportion of Shi Gang Company in high end market stably increased, accounting for 74% in H1, with a year on year increase of 2.8%.
In the January-June period, the company produced 300,000 mt coking coal, 790,000 mt iron, 880,000 steel mt and 840,000 mt finished products, the profit of main business reached RMB 4.39 billion ($ 675million); and profit and tax reached RMB 223 million ($ 34.3 million); the exports of steel for automotive industry reached 133,000 mt, foreign exchange earnings reached $ 110 million.
Although the output of iron, steel and finished products respectively fall 170,000 mt, 110,000 mt and 100,000 mt, the sales and profit respectively increased by RMB 300 million ($ 46.15 million) and RMB 10 million ($ 1.5 million).