Zhangjiagang Pohang achieves growth in stainless steel sales & profits in 2020
According to reports, Zhangjiagang Pohang Stainless Steel Co., Ltd. (ZPSS) continued to increase its stainless steel sales in 2020, increasing by 1% from last year to around 1.3 million tons. However, sales revenue dropped by 6% to US$2.575 billion.
ZPSS's operating profit increased from last year's US$2 million to US$14 million in 2020, due to the fact that the sales volume of its world's top high-end products increased from 37% last year to 46%, as well as the decrease in raw materials and other procurement costs.
PZSS's stainless steel sales in 2020 increased by 2.6% compared to 2018, sales revenue fell by 8%, and operating profit increased by approximately US$2 million.
