On February 18, Hubei Province-based Chinese steelmaker Daye Special Steel Co. announced its results for 2013, stating that its operating revenues for the year amounted to RMB 7.44 billion ($1.23 billion), decreasing by 8.43 percent, while its net profit totaled RMB 202 million ($33.31 million), down 7.59 percent, both year on year.
In 2013, the company's output of crude steel reached 1.1303 million mt , rising by 3.45 percent year on year, while its finished steel output amounted to 1.3457 million mt, down by 6.3 percent year on year. On the other hand, in 2013 Daye Special Steel's finished steel sales totaled 1.3415 million mt, down 6.8 percent, with 328,800 mt of the total sold to the export market, up 28 percent, both year on year.
Daye Special Steel also stated that in 2014 it aims to produce 1.16 million mt of crude steel and 1.5 million mt of finished steel, while it is targeting finished steel sales totaling 1.5 million mt and sales revenues of RMB 8.69 billion ($1.43 billion).
