January 17, SteelOrbis - Jiangxi Province-based Chinese steelmaker Ping Xiang Iron and Steel Company Ltd has announced that in 2010 it recorded sales revenues of RMB 31.83 billion ($4.76 billion) and a crude steel output of 8.15 million mt, up 39.72 percent and 28.4 percent respectively on year-on-year basis. In addition, Pin Xiang Iron and Steel's crude steel output capacity reached 10 million mt during the year.
During the past three years, Pin Xiang Iron and Steel has lowered its costs, reduced its energy consumption and improved efficiency. As a result, its operational results have indicated a consistent improvement. In 2008, Pin Xiang Iron and Steel's sales revenue exceeded RMB 20 billion ($3.03 billion) for the first time, while in 2009 its crude steel output increased to 6 million mt.
