Wu Yi, president of Jiangsu Province-based Chinese steelmaker Yonggang Group announced on January 6 that Yonggang Group’s high-quality steel accounted for 70 percent of its production in 2019, much higher than the 35 percent recorded in 2018. He also stated that the company registered an operating revenue of RMB 75.0 billion ($10.8 billion) in 2019.
The steelmaking capacity of Yonggang Group is about 5 million mt per year, according to SteelOrbis’ information. The company supplies long steel products to major engineering projects.