Xinjiang Bayi Iron & Steel said that by mid December of 2009 steel production first breaks through 5 million tonnes increasing by 11.65% and it achieves the profit of more than CNY 400 million in the whole year. Reducing cost and increasing benefit by CNY 630 million.

 

By mid December of 2009, it accumulatively produced 5.25 million tonnes of pig iron, hiking by 41.88% than one year ago it produced 5.4043 million tonnes of steel, rising by 11.65% than one year ago; it yielded 5.0528 million tonnes of steel products, up by 10.71% than one year ago.

 

Last year, its development can be termed as great reverse. Affected by the international financial crisis, Xinjiang Bayi Iron & Steel always made the loss in the first 4 months last year.

 

All the employers and employees of Bayi Iron & Steel actively tackle with the crisis they cut down the cost and increase efficiency as well as develop new products. Additionally, they make some adjustment according to the change in the market, after that, in May it turned the losses into gains, the economy continuously gets better and finally the situation post a reserve.

 

According to the statistics, in 2009 Bayi Iron & Steel increased the profit by CNY 630 million in the full year. It also developed 14 new types of products.