Hunan Province-based Chinese steelmaker Hunan Valin Iron & Steel Co. (Hunan Valin Steel) has announced that in 2013 its net profit amounted to RMB 106 million ($17.26 million), compared to a net loss of RMB 3.254 billion in 2012. Valin Steel's operating revenue in 2013 totaled RMB 59.65 billion ($9.71 billion), up 0.67 percent year on year. Valin Steel stated that in 2013 it fell short of its output targets and failed to reach its operating revenue target of RMB 60 billion due to breakdowns at its blast furnaces.
In 2014, Valin Steel is targeting a pig iron output of 15.62 million mt, a crude steel output of 16.48 million mt and finished steel production of 15.86 million mt, while its sale revenue target for the year is RMB 57 billion ($9.3 billion).
