Last Updated :
01 October 2009 at 12:20 IST
Baosteel August profit crosses 100 million yuan
BEIJING (Commodity Online) : China’s largest steelmaker, Baoshan Iron and Steel Co (Baosteel) Thursday said profit from its steel division crosses yuan 100 million in August
In a statement issued here it said company’s strategy to consolidate the stainless steel business chain composed of production, supply, sales and research helped it to maintain the growing trend of a month earlier.
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Both the output and sales recorded steady growth in August, it said.
For the first eight months of this year, the stainless steel division cut cost by yuan 56.94 million, which is the whole-year target set by Baosteel earlier, statement added.
Meanwhile, it has also enhanced the production efficiency and set a goal to output at least 118,000 tons of stainless steel per month.
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