In the first quarter this year, Chinese company Jigang International Trade Co., a subsidiary of Shandong Province-based Chinese steelmaker Jinan Iron and Steel Co. (Jigang), sold 1.48 million mt of iron ore worth RMB 1.2 billion ($192.9 million), creating a net profit value of RMB 13 million ($2.09 million), as announced by Jigang on April 19. The sales volume in question excludes sales to the parent company.
In 2012, Jigang International Trade Co.'s total iron ore sales volume, excluding sales to its parent company, had amounted to 5.01 million mt.