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Lingyuan Steel's 2010 Net Profit Up 90 Pct

Lingyuan Steel announced an estimated increase of over 90 percent in net profit in 2010, when compared with the 298 million yuan, or 0.37 yuan in earnings per share, it made in 2009. The company needs to import approximately 20 percent of all its iron ore requirements.

Shougang Confirms Overall Objectives in 2011-15

Shougang will set up a fresh innovation-driven development pattern, make its steel business stronger and more competitive while developing relevant industries in concert, and boost the transformation of its Beijing operations. By 2015, the group will achieve sales revenue of 341 ...

Hebei Steel Mining Sets Production Goal

Hebei Steel Mining Group will produce seven million tons of iron concentrates, 800 tons of molybdenum concentrates, 750,000 tons of dolomite powder and 21,000 tons of silicon manganese in 2011. The group also hopes to reap a profit of more than 2.3 billion yuan.

Bayi Steel's Profit Jumps in 2010

Bayi Steel recorded a surge of 385.28 percent in net profit to 535 million yuan last year. Its operating revenues were 23.67 billion yuan, up 43.84 percent year-on-year, and basic earnings were 0.70 yuan per share, up 400 percent.

Ansteel Posts Higher 2010 Profits

Ansteel announced that the company will reap a net profit of 1.7 to 1.9 billion yuan in 2010, up 133 to 161 percent from 72.7 billion yuan last year.

Baosteel to Produce 33 Million Tons of Steel by 2015

Baosteel's crude steel output will increase from 26 million tons at the end of 2010 to 33 million tons by 2015 with much of the production growth going to the cold rolled steel sheet intended for sectors such as automobile, home appliances and machinery. Currently, the company's ...

Handan Steel Sets Production Goal in 2011

Hebei Iron and Steel Group Handan Steel aims to produce 12.2 million tons of pig iron, 12 million tons of crude steel and 11.18 million tons of finished steel products this year. It will develop 2.65 million tons of new products to enrich its brand products pool of 8.03 million ...

Wuhan Steel to Exploit Australian Iron Mine

Wuhan Steel (WISCO) International Resources has signed a binding framework agreement with a Canadian listed mining company to jointly develop the Lac Otelnuk iron ore mine in Quebec, Canada. WISCO will invest 790 million yuan to acquire a 60 percent stake in the project boasting ...

Shagang's Sales Revenue Hits RMB 178.6 Billion

China's largest private steel producer Shagang Group achieved sales revenue of 178.6 billion yuan, a 22 percent increase over that of 2009; and created a combined profit and tax of 13.6 billion yuan, up 75 percent. Last year the group developed more than 50 new high-tech and high ...

Wisco to Set up Slag Powder JV

Wuhan Steel (Wisco) announced that its wholly owned subsidiary, WISCO Metal Resources has signed an agreement with Singapore-based EnGro Corporation to set up a joint venture with a registered capital of 80 million yuan in total to produce ground granulated blast furnace slag ...

Qiuquan Steel to Produce 13 Million Tons of Steel by 2015

Last year Jiuquan Steel produced 6.55 million tons of pig iron, 8.57 million tons of steel and 8.86 million tons of steel products. The company achieved operating revenues of 56.35 billion yuan and a profit of 1.20 billion. The average wage of fully employed was 50,200 yuan a ...

Panzhihua Steel Unveils Merger Plan

According to a new reorganization plan, Pangang Group Steel Vanadium and Titanium plans to spin off all of its steel-related units worth 11.43 billion yuan while absorbing 10.62 billion yuan worth of assets 100 percent owned by Ansteel Group in Anqian Mining, Ansteel (Hong Kong) ...

Sinosteel Secures Karara Iron Ore

Gindalbie Metals would ship the first iron ore from its Karara mine, a 50/50 joint venture partnership with Ansteel in Western Australia, two months ahead of its original June target after it concluded a hematite ore sales agreement with Sinosteel Midwest, a subsidiary of ...

Ansteel Forecasts Flat Export Level

Ansteel will limit its steel export tonnages to roughly 10 percent of its total sales this year, the same level as last year. The company's export volume plunged to 1.81 million tons last year with a transaction value of 1.24 billion yuan. Ansteel International has set up a host ...

Handan Steel Rolls out Widest HR sheet

Hebei Steel Group Handan Steel has rolled out a piece of ultra low carbon grade hot rolled steel with a width of 1,905 mm, the widest size ever made in the province, designed to be processed into inner and outer auto panel, high-end home appliance plate and equipment parts.

Masteel to Benefit from Railway Wheel Market

Masteel, a leading domestic wheel steel producer, will be bracing a boom period as China has made the development of high-speed railway and urban rail one of its key targets this year, which will require large quantities of high quality steel wheel. The company has developed ...

Ansteel Receives Overseas Engineering Contract

Ansteel has won an overseas tender worth 710 million yuan to carry out a civil engineering design and the building of workshops specific to the renovation and upgrading of a 100 meters heavy rail production line at Chelyabinsk Iron and Steel Plant, Russia's largest special steel ...

Shagang Releases March Pricing Strategy

Shagang announced a price rise of 200 yuan a ton for wide heavy plate for shipment in the early part of March, while the prices of high-speed wire rod, rebar, coiled bar, round bar and hot rolled coil were not changed. The company raised its prices by 50 to 100 yuan for various ...

Wisco Plans Listing for Overseas Mines

Wuhan Steel (Wisco) said the company is moving quickly to build overseas mineral assets of its own in view of packaging them into a vehicle for listing in the next five years. Wisco has made investment in eight iron ore mines in foreign countries such as Canada, Brazil, Australia...

Shougang to Build New Material Base in Guiyang

Shougang has elected to invest more than 10 billion yuan in the next three years to establish a circular economy and industry base of new and special materials in Xiuwen County, Guizhou. This project will serve as a new site for its Guiyang Steel Plant that is now located at the ...
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