As of the end-June in 2020, Hunan Valin Steel Co., Ltd manufactured 12.98 million tonnes of steel, showed data from an announcement released by the company late July 9.
It also produced 10.35 million tonnes of iron and 12.07 million tonnes of steel products, 11.84 million tonnes of which were distributed.
Over June, Valin Steel produced 1.73 million tonnes of iron, 2.21 million tonnes of steel, 2.06 million tonnes of steel products, a decline of 4.9%, 3.9% and 4.6% respectively month-on-month.
Valin Steel's June steel products sales volume slightly slid to 2.09 million tonnes with a drop of 1.9% month on month.
Valin Steel, one of ten Chinese major steel makers, is a sophisticated steelmaker based in central China. The group is the world's largest producer of single wide and thick steel plate and the second largest supplier of seamless steel pipes among its Chinese peers. It also grasps the world's most advanced technology for auto sheets.
Over 2019, Valin Steel realized operating income of 107.12 billion yuan (approximately $14.74 billion), marking an increase of 5.84% year-on-year. Its net profit in 2019 was 4.39 billion yuan with a sharp decrease of 40.48% on the year.
In 2020, the company's operating goal is to produce 20 million tonnes of iron, 24 million tonnes of steel and 23 million tonnes of steel products.
(Writing by Rebecca Liu Editing by Tammy Yang)
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