Wuhan Iron & Steel sees '08 profit at 7.6 bln yuan

Wuhan Iron & Steel Co Ltd, one of the major steel makers in China forecasted its profit and sales revenue to hit 7.6 billion yuan and 120 billion yuan in 2008, according to company sources.

It is estimated that the output of iron, steel and steel products at the Wuhan-based steel mills amounted to 2,593 tonnes, 2,716 tonnes and 2,630 tonnes, raising 20%, 21% and 17% year on year, respectively.

The company also exported 1.345 million tonnes of steel products during the year, with a total value of US$1.2 billion.