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Xuanhua Steel closes two BFs: Hebei Iron and Steel Xuanhua Steel shut down two oldest blast furnaces (300 cubic meters each) on March 31, which could save 140,000 tons per year of standard coal and reduce the emissions of dust and smoke by nearly 100 tons. The two furnaces were put into services on December ...

Jinan Steel transfers renewable energy technology: Shandong Iron and Steel Group Jinan Steel has signed a contract agreement, the third of its kind, with Ansteel to transfer its electricity generation technology via surplus heat generated from sintering machines. This marked a wide recognition among its peers of Jinan Steel's low...

Wisco taps coking coal in Henan: Wisco agreed to purchase a 20 percent stake in Jinding Coal Mine, owned by Ruzhou-based Tianze Coking Co Ltd, on April 10. The deal allowed the mill to secure at least 80 percent of primary coking coal produced from the mine per year.

Tianjin Steel Pipe to be publicly traded: Tianjin Steel Pipe, China's largest seamless pipe producer with 24 subsidiaries at home and abroad, is planning to issue no more than two billion A shares on the Shanghai Stock Exchange to raise 6.24 billion to 6.74 billion yuan for projects such as structural adjustments, ...

Hebei Steel strikes iron ore transport contract: South Korea's Hyundai Merchant Marine has signed an agreement worth $315 million with Hebei Iron and Steel Group to transport iron ore from Brazil and Australia to China for the next 15 yeas.

Sinosteel to buy iron ore from Brokeman: Sinosteel has signed an agreement to buy 10 million tons per year of iron ore from Australia's Brokeman over the next five years. The total value, when calculated at today's spot market, would top A$6.5 billion. The contract volume accounts for half the company's total output.

Baoji Steel Pipe develops high-grade spiral welded pip: On April 9, Baoji Steel Pipe succeeded in producing the first piece of 1,219 mm * 15.3 mm spiral welded pip for X100-grade pipeline to be used in the third line of West-East Gas Transportation project.

Valin Steel forecasts Q1 losses: Valin Steel estimated a loss of 260 million to 290 million yuan in the first quarter of this year citing soaring raw materials costs. Growth of raw material costs far outpaced that of finished steel during the period.

Masteel reports good Q1 results: Masteel said it reversed losses in the first quarter of this year by obtaining a net profit of 521 million yuan and operating revenues of 14.28 billion yuan, although stress of surging raw material costs is proliferating. The company attributed the gains to higher selling prices ...

Chongqing Steel's 09 profits plunge: Chongqing Steel turned out a net profit of 84.03 million yuan last year, down 85.96 percent year-on-year; had operating revenues of 10.65 billion yuan, down 35.5 percent and earnings per share of 0.05 yuan, down 85.71 percent. The decline of both selling prices and shipment ...

Jinan Steel's profits up 110 pct: Jinan Steel had operating revenues of 7.44 billion yuan in the first quarter, up 22.57 percent year-on-year; a net profit of 85.10 million yuan, up 110.7 percent and basic earnings per share of 0.027 yuan, up 110.7 percent.

Bayi Steel reports net profits in Q1: Bayi Steel had a net profit of 150 million yuan and earnings per share of 0.2 yuan in the first quarter of this year. The company reported operating revenues of 5.15 billion yuan, up 57.67 percent, compared with a loss of 100 million yuan during the same period last year.

Wisco s 09 profits tumble: Wisco had a net profit of 1.52 billion yuan in 2009, down 70.77 percent; had operating revenues of 53.71 billion yuan, down 26.76 percent and earnings per share of 0.193 yuan, down 70.85 percent. In the first quarter of this year, the company had a net profit of 288 million yuan, ...

Anyang Steel's Q1 profit doubles: Anyang Steel posted operating revenues of 5.90 billion yuan in the first quarter, a net profit of 14.69 million yuan, up 104.56 percent and basic earnings per share of 0.0061 yuan, up 104.54 percent. The doubling of its net profit was due to increased sales volume and selling ...

Guangzhou Steel may face reorganization: The Guangdong government and Baosteel will soon discuss issues about the possible consolidation of Guangzhou Steel by Baosteel, a matter that has drawn wide attention after Guangdong Iron and Steel went public in June 2008. According to a plan, after the completion of proposed ...

Ansteel's Q1 profits soar: In the meanwhile, Ansteel reported operating revenue of 21.67 billion yuan, up 38.64 percent; a net profit of 1.15 billion yuan, up 57,300 percent (compared with a modest 2 million yuan profit in the same period of 2009) and earnings per share of 0.159 yuan, up 52,900 percent.

Baotou Steel posts losses in 2009: Baotou Steel reported a loss of 1.63 billion yuan last year, compared with a net profit of 920 million yuan from 2008, and had operating revenues of 34.02 billion yuan, down 22.91 percent. Falling steel prices and shrinking exports were the main reasons behind the loss.

Baosteel s Q1 profits soar: Baosteel said the company had operating revenue of 44.34 billion yuan in the first quarter of this year, up 37.14 percent; a net profit of 3.93 billion yuan, up 4,316.65 percent; a combined profit of 5.27 billion yuan, up 5.13 billion yuan and earnings per share of 0.22 yuan, up ...

Baosteel expects H1 profits to soar: Baosteel forecasts a staggering 600 percent to 1,000 percent jump of its net profits in the first half of this year, thanks to expanding sales price and volume. In the first quarter, the company had a net profit of 3.93 billion yuan, compared with 90 million yuan in the same ...

Wisco bound for Southeast Asian market: Wisco Kunming Steel has begun building a complex project in Vientiane, Laos that consists of steelmaking, rolling, iron reduction plants and mining assets. The project, China's first integrated steel project in Southeast Asia, will start with mining activities and is due to be ...

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