Jiangsu Province-based Chinese steelmaker Jiangsu Yonggang Group has announced that in October this year it produced 620,000 mt of crude steel and 630,000 mt of finished steel,compared with 599,300 mt of crude steel and 591,300 mt of finished steel in September this year.
In October, Jiangsu Yonggang Group’s finished steel sales volume totaled 650,000 mt, while its pre-tax profit from finished steel sales reached RMB 350 million, constituting the highest monthly figure year to date.
According to the figures previously released by the company, in the first nine months of this year its outputs of crude steel and finished steel were 5.4203 million mt and 5.2551 million mt, up 57.42 percent and 46.5 percent respectively, both year on year.
In the January-October period, Yonggang Group’s sales volume of earthquake-resistant rebar accounted for 15 percent of the company’s total rebar sales volume, up 13.3 percentage points compared to 1.7 percent in the same period last year. The company’s sales volume of high-strength rebar in the first 10 months also indicated an increase, up 120 percent year on year.
Yonggang Group expects to produce 6 million mt of rebar this year, including 4.86 million mt of rebar with yield strength exceeding 400 MPa.