August 09, 2008

Shigang increases high grade steel production in Q1 of 2008

It is reported that Chinese steel maker Shijiazhuang Iron and Steel Company Ltd produced 484,000 tonnes of hot metal, 495,000 tonnes of crude steel and 480,500 tonnes of finished steel during January to March 2008.

Its sale income of CNY2.27 billion went up by 43.5% YoY and revenue in creased by 36.4% YoY to CNY 286 million.

It is reported that Shigang improved the product mix during this period and increased the ratio of high value added products by focusing on production and research of high grade steel fetching price of more than CNY 6,000 per tonne or even CNY 10,000 per tonne.

During the first three months, the company had a ratio of high grade steel up to 99.05% and the ratio of alloy steel to 57.42%. Its newly developed grades including 40Cr, 20CrMn, 20G, 20CrMnTi steel won high appraises from the nation metallurgic industry and also won contracts with customers in high grade market, like automakers as Toyota of Japan and machine manufacturers as Caterpillar of USA and so on.