On September 27, Beijing-based Chinese steelmaker General Steel Holdings Inc (GSI) has announced that it expects its operating revenue to total about $1.4 billion for the first half of this year, while it expects to record a total finished steel output of 2.4 million mt for the period in question.
General Steel Holdings stated its total finished steel output for the second quarter is expected to remain unchanged compared to the first quarter, while the estimated operating revenue for the second quarter amounting to $689 million is down from the $711 million recorded for the first quarter.
The steelmaker’s main products include rebar, hot rolled sheet, welded pipe and high-speed wire rod.
General Steel Holdings stated that, while activity in the Chinese steel market has slowed, demand in the company’s primary market of western China has remained stable with the support of large government-backed housing and infrastructure investment projects.