Valin Steel’s net profit up 46% in 2020, steel output up 10%

Thursday, 01 April 2021 12:16:57 (GMT+3)   |   Shanghai

Hunan Province-based Chinese steelmaker Hunan Valin Iron & Steel Co. (Hunan Valin Steel) has issued its financial report for 2020, announcing that Valin Steel Group realized an operating revenue of RMB 116.276 billion ($17.8 billion), up 8.55 percent year on year, and a net profit attributable to the shareholders of the listed company of RMB 6.395 billion ($1.0 billion), up 45.63 percent year on year.

In 2020, Valin Steel produced 26.78 million mt of crude steel, up 10.16 percent year on year.

Valin Steel said it plans to produce 21.5 million mt of pig iron, 28.0 million mt of crude steel and 26.55 million mt of finished steel in 2021.

$1 = RMB 6.5584

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