On January 16, Liaoning Province-based Chinese steelmaker Anshan Iron and Steel Group Co. (Ansteel) announced that it returned to profit in 2013 following the strong net loss it had recorded in 2012. Accordingly, the group has posted a net profit of RMB 800 million ($132.17 million) for 2013, compared to its net loss of RMB 10 billion in 2012. Furthermore, in 2013 Ansteel produced 35.016 million mt of pig iron, 33.687 million mt of crude steel and 32.065 million mt of finished steel. In 2012, it had produced 29.068 million mt of pig iron, 28.145 million mt of crude steel and 26.797 million mt of finished steel.
Meanwhile, on January 15, Ansteel signed a strategic cooperation agreement with the state-owned China National Petroleum Corporation (CNPC), as reported by CNPC on January 16. The cooperation between the two sides will focus on purchase agreements and expanding cooperation in overseas trade. In addition, both sides also agreed to have further cooperation in terms of resources, markets, technology research and development, logistics management and other related sectors.