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)
Showing posts with label hot rolled plates. Show all posts
Showing posts with label hot rolled plates. Show all posts
Friday, February 4, 2011
Sunday, January 30, 2011
Hyundai Steel to build a new furnace by 2013
Sunday, 30 Jan 2011
Reuters reported that South Korea's Hyundai Steel Co will invest more than KRW 3 trillion to build a No 3 furnace with a capacity of 4 million tonnes of steel per year.
Construction will start in the second quarter of 2011 and run through to 2013.
Hyundai Steel completed its first blast furnace in 2010 with an annual production capacity of 4 million tonnes per annum and added a No 2 furnace with the same capacity later in the year.
In April 2010, the steelmaker said its new furnace would specialize in steel plates for Hyundai Motor Group automobiles to strengthen the group's integrated supply chain.
Hyundai Steel provides crude steel and hot rolled plates to Hyundai Hysco Co Limited, which supplies cold rolled plates to the country's top two automakers Hyundai Motor Co and Kia Motors Corporation.
Hyundai Steel used to make mainly rebar and H section for the construction sector and recycling scrap steel at mini mills. (Sourced: reuters.com)
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