Company profile - Angang Steel

Angang Steel is the biggest Hong Kong-listed Chinese steelmaker by value. Its principal activity is the production and sale of billets, wire rods, thick plates, cold rolled sheets and large steel products. It operates solely in the domestic market. Steel prices in China, the world's top producer and consumer of the metal, recovered this year after the government tightened bank loans and land supply to rein in excess capacity growth. With prices increasing, and demand also on the rise, the company has been announcing healthy profit reports.