October 12, 2008

Tiantie Group Q1 steel output up by 32% YoY

Tianjin Tiantie Group has produced 1.21 million tonnes of steel in January to March 2008 quarter up by 32% YoY. It also produced 1.14 million tons of iron up by 28% YoY and 850,000 tonnes of finished steel products up by 51% YoY in the quarter.

Meanwhile, the group realized sale income of CNY 12.18billion, CNY 5.6 billion more than that of the corresponding period in 2007 and had a production value of CNY 7.33 billion, up by CNY 2.03 billion.

During the January to March 2008 quarter, energy consumed per tonne steel in decreased to 570 kilogram and that of CNY 10,000 of production value downed to 2.21 tonnes of standard coal, especially that in March 2008 downed to 514 kilogram.

Besides, Tiantie focuses on high grade projects construction, in order to maintain the position in high grade products markets. The cold rolling plate project will launch operation on 18th May 2008 and the hot rolling plate project has launched production in August 2007, with the daily output having topped 10,000 tonnes, the pre iron system improving project, involving an investment of more than CNY 4 billion, is expected to be completed by the end of 2008.

In 2007, steel melting plant of Tiantie managed to reduce the energy consumed during steel melting. The energy consumed per tonne steel in Tiantie Group decreased by 100 kilogram in 2007, and the energy consumed per CNY 10,000 of production value downed to 1.4 tonnes of standard coal.