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Guangxi Liuzhou Iron and Steel Company made impressive performance in 2014
Date:2015-01-22 By:Feng Lu Source:China Daily

Guangxi Liuzhou Iron and Steel Company made an impressive performance in 2014: the iron and steel outputs reached 10.9 million tons and 11.39 million tons respectively, hitting a record high; the profit reached 315 million yuan ($50.6 million) and the profit and tax reached 1.6 billion yuan.

As the leading enterprise of Liuzhou’s one of three key pillar industries, Liuzhou Iron and Steel Company has stood the test of the decline of iron and steel industry in 2014 by carrying out a series of reform measures. It stuck to the overall idea of “adjusting structure, expanding market, promoting reform, strengthening management and advocating incorrupt government” and the transformation development direction of “producing high-quality iron and steel and expanding multiple industries”.

Liuzhou Iron and Steel Company assessed accurately about when was the best time to purchase crude fuel, which cut the cost of materials by 2.1 billion yuan last year.

The Company also formulated specific policies to control the process cost. It carried out assessment of the linked process of steelmaking, purchasing, sintering and so on, guided the production by the cost effective of the best burden structure, which cut the cost of producing molten iron from 2,365 yuan per ton in January to 1,820 yuan per ton in December last year.

The Guangxi Liuzhou Iron and Steel Company strengthened the control of technological process and optimized the manufacturing technique. With regard to the facility, the Company cut the cost by strengthening the management and maintenance of its facilities. It also cut the cost by optimizing its breed structure and using self-generating electricity system. It saved 4.09 billion yuan in 2014 by carrying out these measures.

The sales department of the Company also maximized profit by timely adjusting the sale price according to the market price.

It visited major clients in Guangdong, Guangxi and Eastern China to promote the sale of high-grade steel and enhance its market share. It also established an e-commerce transaction platform to expand its marketing channel. The sales volume of its rolled steel in 2014 reached 11.28 million tons, 10.42 million tons of which was high-grade steel, achieving a year-on-year growth of 8.11 percent and 8.73 percent respectively.

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