Liaoning Province-based Chinese steelmaker Angang Steel Co. (Ansteel) has issued its financial results for 2012, announcing a total net loss of RMB 4.157 billion ($663 million), compared to net loss of RMB 2.146 billion in 2011.
In 2012, Ansteel achieved an operating revenue of RMB 77.748 billion ($12.4 billion), down 14.02 percent on year-on-year basis.
In addition, in 2012 Ansteel produced 20.2883 million mt of pig iron, down 0.75 percent year on year. Meanwhile, its outputs of crude steel and finished steel in 2012 were 19.6288 million mt and 19.0911 million mt, down 0.78 percent and 0.41 percent year on year respectively.Last year, the company's sales volume of finished steel amounted to 18.876 million mt, up 0.2 percent year on year.
Ansteel also announced that recently it completed production of 107 mt of GH600 and GH800 corrosion-resistant alloy and TA2 pure titanium alloy plates, which it developed together with Panggang Group Jiangyou Changcheng Special Steel Co., Ltd. Accordingly, Ansteel has achieved batch production of the plates in question, which may be used in sectors including defense and aerospace, as well as in the health and medical sector.