Wuhan Iron & Steel Group Corp announced in H1 2008 it produced 12.71 million tonnes of pig iron up by 55.44% YoY, 11.25 million tonnes of billet steel up by 54.79% YoY and 10.61 million tonnes of steel products up by 58.08% YoY respectively. Sales revenue and profit rise by 89.78% YoY and 20.48% YoY compared with the same time of last year. All figures above are hitting the record high.

According to the released, WISCO faces great pressures and challenges since the start of this year, reflecting the wild price rise in iron ore, coal, transportation and oil which together bring about a cost increase of CNY 10 billion.

The released added that, the company sticks to the strategy of direct supply to end users and the ratio is as high as 80%, supported by the expanding capacity and fast correction of products mix. It also energetically markets its ten strategic products including saloon car steel sheet, steel for construction and oriented silicon steel.

Wuhan is engaged in mass production of CR saloon car steel sheet, it consolidates the brand of its steel for construction such as bridge steel, heavy rail and vessel steel, as well as X80 pipeline steel especially, has been successfully shipped to serve projects of West-East Natural Gas Transportation , Central Asia Pipeline and Southwest Pipeline. In addition, high end products like tire cord steel and high strength cold heading steel have been over fulfilled, strongly upholding the company' H1 outstanding performance.