After two consecutive years of losses, the alloy steel pipe division is now showing signs of recovery. The company expects to report a profit of 550 million yuan in the first quarter of this year. To reverse its long-term loss trend, the company set clear profit targets for 2013 and began implementing strategic measures from the fourth quarter of last year. These efforts focused on optimizing production schedules, improving resource allocation for raw materials and fuel, and refining steel sales strategies. As a result, the company's performance has gradually improved since the end of last year, with a notable turnaround in December when it recorded a monthly profit for the first time in a while.
According to Sangang Shuguang’s performance forecast, the alloy steel pipe business is expected to generate between 24.67 million and 25.68 million yuan in profits during the first quarter of 2013. This represents a significant increase of 630% to 660% compared to the same period last year. The primary driver behind this improvement is the growth in operating income, coupled with a reduction in the cost of major products. This has led to a higher gross profit margin. During the 2012 annual performance briefing, Baosteel executives noted that steel prices rebounded in the first quarter of 2013. However, the price of raw materials remained high, with coal prices rising over 50% from their lowest point in 2012. Despite these challenges, the company reported that its overall performance in the first quarter was stable and showed positive momentum. The continued focus on cost control and operational efficiency is expected to support further improvements in the coming quarters.
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