Friday, 04 Feb 2011
It is reported that Jiangxi Province based Chinese steelmaker Xinyu Iron and Steel Co Ltd expects to see a 100%YoY increase in its net profit in 2010 to approximately CNY 360 million as compared to its net profit of CNY 180 million in 2009.
Xinyu Steel said the increase in its net profit was due to the commissioning of its 1,580 mm hot rolled sheet project, the adjustment of its product mix and the improvement in product profitability.
Xinyu Steel main products include wire rod, hot rolled plate, hot rolled sheet and other metal products.(sourced:steelorbis)
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