Fujian Province-based Chinese steelmaker Sansteel Minguang Co., Ltd. has stated that the company's capacity replacement and ultra-low emission modifications are in the final stages of completion. Only the Quanzhou Minguang steelmaking and ancillary projects are currently under construction, with other replacement projects having been substantially completed and commissioned. As a result, its new construction capital expenditure will see significant declines after 2025.
As previously reported by SteelOrbis, Sansteel Minguang recorded a net profit of RMB 75.4811 million ($10.5 million) in the first three months this year, shifting from a net loss of RMB 105 million recorded in the same period of last year.