Reportedly, Chinese Hunan Valin Steel returned to gain, supported by the government's subsidy.
According to the company's 2011 financial report, its 2011 net profits reached RMB70.136 million, surging significantly by 102.67% from a loss of RMB2.644 billion in a year earlier.
In 2011, Valin Steel's production of pig iron was 14.79 million tons; that of steel was 15.43 million tons and that of steel products was 14.67 million tons.
For prospect, the company expected to produce 14.88 million tons of pig iron, 15.99 million tons of steel and 14.93 million tons of steel products in 2012, aiming to realize the sales incomes of RMB71.4 billion