Zhejiang Province-based Chinese steelmaker Hangzhou Iron and Steel Group Co. (HISGC) has announced that in July this year it produced 8,900 mt of free-cutting steel at its high-speed wire rod plant. In the January-July period of the current year, Hangzhou Steel's aggregate free-cutting steel output amounted to 36,212 mt.
As previously report, in the first half of the current year Hangzhou Steel recorded a net profit of RMB 106 million ($16.7 million).