China-based Tisco’s stainless crude steel production rose to 6.24mn mt in H1, up by 14.3pc from the prior year period, while its stainless steel output increased by 9.7pc to 2.183mn mt amid a strong macroeconomic recovery. The company’s sales volumes and profit margin also improved as robust downstream demand supported higher steel prices.
Sales volume increased by 18.5pc on a production to sales ratio of 100.2pc in H1. Stainless steel sales volume rose by about 10pc to 2.027mn mt from the prior period. On the other hand, sales price grew by around 19pc from H1 2020. Sales volume of ordinary steel was flat at 2.396mn mt from last year H1 but sales price was up by 39pc.
Sales volume of ordinary carbon steel billets in H1 2021 rose to 1.516mn mt, up by about 97pc from H1 2020 with prices up by around 45pc from the prior period.
The company’s net profit rose to CNY4.73bn ($73mn) in H1 2021, up by 702.5pc from H1 2020.
($1=CNY6.47)