Hebei Province-based Chinese pipe producer Xinxing Ductile Iron Pipes Co. (Xinxing Ductile Iron Pipes) has announced that in the first quarter this year it registered an operating revenue of RMB 11.221 billion ($1.73 billion), down 14.75 percent year on year, with a net profit of RMB 39.10 million ($6.04 million), down 15.19 percent year on year.
In the first quarter of the current year, Xinxing Ductile Iron Pipes produced 465,200 mt of steel pipe, up 20.52 percent, 1.0939 million mt of steel billet, down 16.34 percent, 964,600 mt of finished steel, decreasing by 10.09 percent, and 17,000 mt of steel grating, down 19.64 percent, all year on year.