国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

Business / Companies

Steel giant delivers strong May rebound

By Du Juan in Beijing, and Wu Yong in Anshan, Liaoning (China Daily) Updated: 2012-06-21 10:34

Angang Steel Co Ltd, one of China's top steel producers, delivered a strong performance in May, returning to the black for the month thanks to improved production efficiency and green technology, said Chairman Zhang Xiaogang.

But he warned he was still cautious about the company's June performance, as steel prices continue to fall.

The company reported a loss of 2.15 billion yuan ($341 million) last year, the biggest among the country's listed steel producers.

In the first quarter of this year, it racked up a further 1.89 billion yuan loss, against a net profit of 71 million yuan at the same stage last year.

However, revenues gained from the company's flagship steel project at Bayuquan in Liaoning province, ended in profit in May, for the first time this year, against the general industry gloom brought about by rising raw material prices and less downstream demand, Zhang said.

The project had struggled in March and April, but the net profit in May is a significant success, said Zhang, who declined to release the exact details of its performance.

Elected chairman of the World Steel Association in October, Zhang delivered the upbeat performance update after being awarded the Willy Korf and Ken Iverson Steel Vision Award given by World Steel Dynamics and American Metal Market.

"I don't take the honor for either myself or Ansteel. Rather, this honor belongs to China because of the country's contribution to the world's steel industry," he said.

The Bayuquan steel project, which started operation in 2008, has annual production capacity of 5 million metric tons of steel, 2 million tons of wide and heavy plates and 2.96 million tons of hot rolled plates, and is expected to manufacture more high-end steel products in future.

The steel industry had a total deficit of more than 9 billion yuan in the first quarter of this year, the first time this century the industry as a whole has fallen into the red, according to the China Iron and Steel Association.

The government has just accelerated the approval of a series of infrastructure construction projects including steel projects to boost the economy. However, analysts said it is still too early to evaluate whether they will deliver the desired effect or not.

Contact the writers at dujuan@chinadaily.com.cn and wuyong@chinadaily.com.cn

Hot Topics

Editor's Picks
...
犍为县| 磴口县| 抚远县| 黑山县| 肃宁县| 赤城县| 萨迦县| 宁阳县| 高碑店市| 焉耆| 府谷县| 云阳县| 沭阳县| 夏河县| 孟津县| 客服| 彭山县| 青田县| 泾源县| 偃师市| 大同县| 长葛市| 罗城| 高青县| 平安县| 嘉善县| 汶川县| 张家川| 上虞市| 岳阳市| 渭南市| 太原市| 将乐县| 渝中区| 岚皋县| 古交市| 通州市| 钟祥市| 九龙县| 庄浪县| 和平区|