Document_And_Entity_Informatio
Document And Entity Information (USD $) | 12 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2013 | Aug. 01, 2014 | Jun. 28, 2013 |
Document Information [Line Items] | ' | ' | ' |
Entity Registrant Name | 'GENERAL STEEL HOLDINGS INC | ' | ' |
Entity Central Index Key | '0001239188 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Filer Category | 'Smaller Reporting Company | ' | ' |
Trading Symbol | 'GSI | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 58,314,688 | ' |
Document Type | '10-K/A | ' | ' |
Amendment Flag | 'true | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Entity Well-known Seasoned Issuer | 'No | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Public Float | ' | ' | $32.60 |
Amendment Description | 'This Annual Report on Form 10-K/A is being filed as Amendment No. 1 to our Annual Report on Form 10-K (“Amendment No. 1”), to amend and restate our Annual Report on Form 10-K for the fiscal year ended December 31, 2013 (the “Original 10-K”), which was originally filed with the Securities and Exchange Commission (the “Commission”) on March 27, 2014. This Amendment No. 1 also amends our previously filed annual reports on Form 10-K for the years ended December 31, 2012 and 2011 and previously filed quarterly reports on Form 10-Q for the interim periods ended September 30, 2013, June 30, 2013, March 31, 2013, September 30, 2012, June 30, 2012, March 31, 2012, September 30, 2011 and June 30, 2011, as a comprehensive filing.This Amendment No. 1 restates the following items:•Part II, Item 7 – Management’s Discussion and Analysis of Financial Condition and Result of Operations; •Part II, Item 8 – Financial Statements and Supplementary Data - Notes 2, 3(c), 3(i), 17 and 26; •Part II, Item 9A – Controls and Procedures; and •Part IV, Item 15 – Exhibits, Financial Statements Schedules This Amendment No. 1 includes the previously filed quarterly reports on Form 10-Q for the interim periods ended September 30, 2013, June 30, 2013, March 31, 2013, September 30, 2012, June 30, 2012, March 31, 2012, September 30, 2011 and June 30, 2011 under PART V – FINANCIAL INFORMATION - QUARTERLY and PART VI – OTHER INFORMATION- QUARTERLY and restates the following items: • Part V, Item 1 – Financial Statements - Notes 2, 3(c), 3(h), 16, 17 and 26; •Part V, Item 2 – Management’s Discussion and Analysis of Financial Condition and Result of Operations; •Part V, Item 4 – Controls and Procedures; and •Part VI, Item 6 – Exhibits Except for the Items noted above, no other information included in the Original 10-K is being amended or updated by this Amendment No. 1. This Amendment No. 1 continues to describe the conditions as of the date of the Original 10-K and, except as expressly contained herein, we have not updated or modified the disclosures contained in the Original 10-K. Accordingly, this Amendment No. 1 should be read in conjunction with our periodic reports filed with the Commission subsequent to the filing of the Original 10-K, including any amendment to those filings. This Amendment No. 1 contains restatements related to the classification, display and disclosure of our profit sharing liability (which, since its inception during the interim period ended June 30, 2011, has been accounted for at fair value as a derivative instrument liability), which we concluded to be incomplete and inconsistent after communications with the Staff of the Commission following the Staff’s review of certain of our prior quarterly and annual reports, and based on subsequent communications between the Staff and us. We are amending the previously filed annual and quarterly reports as discussed above that were materially affected by these incomplete and inconsistent disclosures, although the restatements do not impact our previously reported consolidated balance sheets, or consolidated statements of changes in deficiency, nor do the restatements result in adjustment of reported net income/loss in our consolidated statements of operations and comprehensive income (loss) or adjustment of reported cash flows in our consolidated statements of cash flows for any period presented. A summary of the effects of this restatement on our financial statements included in this Amendment No. 1 is presented under Part II, Item 8 – Financial Statements and Supplementary Data at Note 2, “ Restatement” and Part V, Item 1 – Financial Statements at Note 2, “ Restatement”. This Amendment No. 1 includes re-issued dual dated audit reports of Friedman, LLP and new officer certifications, which are filed as exhibits to this Amendment No. 1. | ' | ' |
CONSOLIDATED_BALANCE_SHEETS
CONSOLIDATED BALANCE SHEETS (USD $) | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Dec. 31, 2010 |
CURRENT ASSETS: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash | $31,967,000 | $62,091,000 | $67,871,000 | $65,799,000 | $46,467,000 | $83,602,000 | $58,404,000 | $84,516,000 | $120,016,000 | $91,713,000 | $75,317,000 | $65,271,000 |
Restricted cash | 399,333,000 | 405,781,000 | 380,670,000 | 270,167,000 | 323,420,000 | 436,302,000 | 407,430,000 | 455,501,000 | 398,216,000 | 190,681,000 | 186,495,000 | 197,797,000 |
Notes receivable | 60,054,000 | 116,900,000 | 213,644,000 | 118,527,000 | 145,502,000 | 190,507,000 | 79,708,000 | 69,373,000 | 92,910,000 | 30,907,000 | 94,547,000 | 49,147,000 |
Restricted notes receivable | 395,589,000 | 357,250,000 | 117,774,000 | 260,531,000 | 357,900,000 | 67,562,000 | 225,490,000 | 608,917,000 | 584,241,000 | 516,662,000 | 181,169,000 | 240,298,000 |
Loans receivable - related parties | 4,540,000 | 4,540,000 | 6,000,000 | 6,000,000 | 69,319,000 | 67,159,000 | 67,239,000 | 63,199,000 | 0 | ' | ' | 0 |
Accounts receivable, net | 4,078,000 | 8,577,000 | 42,273,000 | 17,154,000 | 6,695,000 | 7,656,000 | 8,927,000 | 18,577,000 | 12,601,000 | 38,362,000 | 51,373,000 | 18,500,000 |
Accounts receivable - related parties | 2,942,000 | 3,252,000 | 6,212,000 | 8,231,000 | 14,966,000 | 28,346,000 | 87,373,000 | 53,056,000 | 20,593,000 | 10,594,000 | 43,500,000 | 4,160,000 |
Other receivables, net | 54,716,000 | 56,494,000 | 53,525,000 | 11,455,000 | 8,407,000 | 20,129,000 | 12,908,000 | 11,410,000 | 22,411,000 | 20,132,000 | 13,343,000 | 11,150,000 |
Other receivables - related parties | 54,106,000 | 51,501,000 | 63,223,000 | 89,015,000 | 68,382,000 | 65,250,000 | 54,400,000 | 76,052,000 | 87,679,000 | 87,748,000 | 91,728,000 | 10,938,000 |
Inventories | 212,921,000 | 177,383,000 | 160,155,000 | 247,930,000 | 212,671,000 | 225,490,000 | 323,301,000 | 360,064,000 | 297,729,000 | 432,144,000 | 473,204,000 | 453,636,000 |
Advances on inventory purchase | 44,897,000 | 79,855,000 | 57,909,000 | 57,341,000 | 79,715,000 | 82,060,000 | 97,822,000 | 97,321,000 | 63,585,000 | 108,031,000 | 50,698,000 | 24,577,000 |
Advances on inventory purchase - related parties | 83,003,000 | 29,667,000 | 2,391,000 | 5,259,000 | 46,416,000 | 78,860,000 | 52,773,000 | 76,849,000 | 20,244,000 | 79,893,000 | 13,143,000 | 6,187,000 |
Prepaid expense and other | 1,388,000 | 1,490,000 | 1,585,000 | 1,494,000 | 450,000 | 549,000 | 547,000 | 335,000 | 364,000 | 898,000 | 302,000 | 5,018,000 |
Prepaid taxes | 28,407,000 | 16,415,000 | 21,846,000 | 23,202,000 | 24,116,000 | 20,212,000 | 22,647,000 | 18,891,000 | 24,189,000 | 15,170,000 | 15,514,000 | 37,323,000 |
Short-term investment | 2,783,000 | 2,771,000 | 2,592,000 | 2,633,000 | 2,619,000 | 2,889,000 | 2,853,000 | 2,851,000 | 2,906,000 | 2,660,000 | 0 | 0 |
Deferred tax assets | 0 | ' | ' | ' | 0 | ' | ' | ' | 167,000 | 166,000 | 164,000 | 15,301,000 |
TOTAL CURRENT ASSETS | 1,380,724,000 | 1,373,967,000 | 1,197,670,000 | 1,184,738,000 | 1,407,045,000 | 1,376,573,000 | 1,501,822,000 | 1,996,912,000 | 1,747,851,000 | 1,625,761,000 | 1,290,497,000 | 1,139,303,000 |
PLANT AND EQUIPMENT, net | 1,271,907,000 | 1,250,542,000 | 1,214,558,000 | 1,172,318,000 | 1,167,836,000 | 1,197,472,000 | 1,216,493,000 | 1,228,772,000 | 1,257,236,000 | 1,213,799,000 | 1,192,496,000 | 602,612,000 |
OTHER ASSETS: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Advances on equipment purchase | 6,409,000 | 21,715,000 | 16,458,000 | 14,549,000 | 6,499,000 | 6,748,000 | 14,690,000 | 12,780,000 | 10,420,000 | 11,268,000 | 13,633,000 | 14,898,000 |
Long-term other receivable | 0 | 0 | 0 | 43,252,000 | 43,008,000 | 2,000,000 | 2,000,000 | 2,000,000 | 0 | ' | ' | 0 |
Investment in unconsolidated entities | 16,943,000 | 1,161,000 | 1,106,000 | 958,000 | 1,166,000 | 1,027,000 | 984,000 | 904,000 | 12,840,000 | 10,522,000 | 9,807,000 | 17,456,000 |
Long-term deferred expense | 668,000 | 713,000 | 764,000 | 807,000 | 1,062,000 | 517,000 | 506,000 | 549,000 | 631,000 | 679,000 | 735,000 | 1,439,000 |
Intangible assets, net of accumulated amortization | 23,707,000 | 23,928,000 | 24,058,000 | 23,976,000 | 24,066,000 | 24,227,000 | 24,623,000 | 24,908,000 | 25,143,000 | 23,824,000 | 23,854,000 | 23,672,000 |
TOTAL OTHER ASSETS | 47,727,000 | 47,517,000 | 42,386,000 | 83,542,000 | 75,801,000 | 34,519,000 | 42,803,000 | 41,141,000 | 49,034,000 | 46,293,000 | 48,029,000 | 57,465,000 |
TOTAL ASSETS | 2,700,358,000 | 2,672,026,000 | 2,454,614,000 | 2,440,598,000 | 2,650,682,000 | 2,608,564,000 | 2,761,118,000 | 3,266,825,000 | 3,054,121,000 | 2,885,853,000 | 2,531,022,000 | 1,799,380,000 |
CURRENT LIABILITIES: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Short term notes payable | 1,017,830,000 | 987,988,000 | 813,521,000 | 785,519,000 | 983,813,000 | 867,769,000 | 910,662,000 | 1,248,235,000 | 1,113,504,000 | 554,931,000 | 345,657,000 | 480,152,000 |
Accounts payable | 434,979,000 | 495,488,000 | 407,683,000 | 411,776,000 | 352,052,000 | 338,812,000 | 362,692,000 | 282,613,000 | 413,345,000 | 404,960,000 | 326,420,000 | 241,367,000 |
Accounts payable - related parties | 235,692,000 | 172,259,000 | 172,306,000 | 154,492,000 | 177,432,000 | 117,662,000 | 116,683,000 | 190,063,000 | 121,828,000 | 114,309,000 | 127,798,000 | 79,694,000 |
Short term loans - bank | 301,917,000 | 254,929,000 | 208,731,000 | 117,124,000 | 147,124,000 | 139,752,000 | 199,421,000 | 318,662,000 | 253,954,000 | 402,428,000 | 311,697,000 | 285,198,000 |
Short term loans - others | 62,067,000 | 130,170,000 | 151,245,000 | 148,023,000 | 147,323,000 | 212,720,000 | 240,125,000 | 299,707,000 | 246,657,000 | 227,198,000 | 205,190,000 | 127,712,000 |
Short term loans - related parties | 126,693,000 | 48,889,000 | 81,975,000 | 104,390,000 | 79,557,000 | 82,069,000 | 81,524,000 | 82,992,000 | 15,710,000 | 15,650,000 | 15,637,000 | 14,548,000 |
Current maturities of long-term loans - related party | 53,013,000 | 47,896,000 | 48,014,000 | 59,984,000 | 54,885,000 | 49,997,000 | 0 | 0 | 0 | ' | ' | 0 |
Other payables and accrued liabilities | 45,653,000 | 52,272,000 | 60,775,000 | 56,785,000 | 54,589,000 | 74,582,000 | 44,643,000 | 34,461,000 | 49,538,000 | 37,962,000 | 36,009,000 | 30,087,000 |
Other payable - related parties | 94,079,000 | 106,153,000 | 101,268,000 | 82,232,000 | 73,025,000 | 118,585,000 | 132,948,000 | 95,032,000 | 28,873,000 | 14,905,000 | 18,216,000 | 18,214,000 |
Customer deposits | 87,860,000 | 95,695,000 | 122,339,000 | 104,609,000 | 125,890,000 | 81,761,000 | 88,938,000 | 80,669,000 | 90,556,000 | 192,153,000 | 175,295,000 | 133,464,000 |
Customer deposits - related parties | 64,881,000 | 14,512,000 | 7,798,000 | 12,649,000 | 21,998,000 | 83,518,000 | 39,134,000 | 57,403,000 | 68,277,000 | 54,385,000 | 65,806,000 | 54,922,000 |
Deposit due to sales representatives | 24,343,000 | 28,184,000 | 30,800,000 | 40,484,000 | 33,870,000 | 34,987,000 | 30,602,000 | 33,534,000 | 22,890,000 | 21,488,000 | 23,660,000 | 51,624,000 |
Deposit due to sales representatives - related parties | 1,997,000 | 1,809,000 | 1,798,000 | 1,772,000 | 1,238,000 | 1,235,000 | 1,236,000 | 1,236,000 | 943,000 | ' | ' | 455,000 |
Taxes payable | 4,628,000 | 9,716,000 | 10,310,000 | 12,334,000 | 16,674,000 | 6,498,000 | 6,921,000 | 5,355,000 | 11,374,000 | 12,020,000 | 12,690,000 | 6,237,000 |
Deferred lease income, current | 2,187,000 | 2,178,000 | 2,164,000 | 2,132,000 | 2,120,000 | 2,115,000 | 2,117,000 | 2,116,000 | 2,099,000 | 2,091,000 | 2,067,000 | 1,971,000 |
Capital lease obligations, current | 4,321,000 | ' | ' | ' | 0 | ' | ' | ' | 25,607,000 | 18,505,000 | 11,552,000 | 0 |
TOTAL CURRENT LIABILITIES | 2,562,140,000 | 2,448,138,000 | 2,220,727,000 | 2,094,305,000 | 2,271,590,000 | 2,212,120,000 | 2,257,649,000 | 2,732,101,000 | 2,465,155,000 | 2,072,985,000 | 1,677,694,000 | 1,525,645,000 |
NON-CURRENT LIABILITIES: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term loans - related party | 19,644,000 | 24,450,000 | 29,160,000 | 33,516,000 | 38,088,000 | 42,741,000 | 92,856,000 | 92,797,000 | 92,035,000 | 107,695,000 | 134,566,000 | 91,020,000 |
Long-term other payable - related party | 0 | 0 | 0 | 43,252,000 | 43,008,000 | ' | ' | ' | 0 | ' | ' | 0 |
Deferred lease income, noncurrent | 75,257,000 | 75,480,000 | 75,558,000 | 74,971,000 | 75,079,000 | 75,418,000 | 76,043,000 | 76,524,000 | 76,425,000 | 76,358,000 | 76,282,000 | 55,620,000 |
Capital lease obligations, noncurrent | 375,019,000 | 354,576,000 | 347,290,000 | 337,075,000 | 330,099,000 | 324,171,000 | 319,446,000 | 314,080,000 | 280,743,000 | 281,510,000 | 282,895,000 | 0 |
Profit sharing liability at fair value | 162,295,000 | 241,090,000 | 278,788,000 | 283,831,000 | 328,827,000 | 322,386,000 | 317,174,000 | 311,358,000 | 303,233,000 | 296,723,000 | 284,871,000 | 0 |
Derivative liabilities - warrants | 0 | 0 | 0 | 0 | 0 | 58,400 | 3,300 | 23,100 | 10,000 | 48,000 | 182,000 | 5,573,000 |
Other noncurrent liabilities | ' | 1,402,000 | 1,393,000 | 1,373,000 | 0 | ' | ' | ' | ' | ' | ' | ' |
TOTAL NON-CURRENT LIABILITIES | 632,215,000 | 696,998,000 | 732,189,000 | 774,018,000 | 815,101,000 | 764,716,000 | 805,519,000 | 794,759,000 | 752,446,000 | 762,334,000 | 778,796,000 | 152,213,000 |
TOTAL LIABILITIES | 3,194,355,000 | 3,145,136,000 | 2,952,916,000 | 2,868,323,000 | 3,086,691,000 | 2,976,836,000 | 3,063,168,000 | 3,526,860,000 | 3,217,601,000 | 2,835,319,000 | 2,456,490,000 | 1,677,858,000 |
COMMITMENTS AND CONTINGENCIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
DEFICIENCY: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred Stock, Value, Issued | 3,000 | 3,000 | 3,000 | 3,000 | 3,000 | 3,000 | 3,000 | 3,000 | 3,000 | 3,000 | 3,000 | 3,000 |
Common Stock, Value, Issued | 58,000 | 58,000 | 58,000 | 57,000 | 57,000 | 57,000 | 57,000 | 56,000 | 56,000 | 55,000 | 55,000 | 55,000 |
Treasury stock Value | -4,199,000 | -4,199,000 | -4,199,000 | -4,199,000 | -4,199,000 | -4,199,000 | -4,199,000 | -2,795,000 | -2,795,000 | -2,795,000 | -2,795,000 | -871,000 |
Paid-in-capital | 106,878,000 | 106,405,000 | 106,194,000 | 105,959,000 | 105,714,000 | 105,475,000 | 105,190,000 | 105,059,000 | 107,940,000 | 107,698,000 | 107,405,000 | 104,970,000 |
Statutory reserves | 6,243,000 | 6,263,000 | 6,204,000 | 6,103,000 | 6,076,000 | 6,078,000 | 6,106,000 | 6,227,000 | 6,388,000 | 6,475,000 | 6,465,000 | 6,202,000 |
Accumulated deficits | -414,798,000 | -414,696,000 | -418,497,000 | -378,679,000 | -381,782,000 | -331,842,000 | -290,244,000 | -263,867,000 | -229,083,000 | -97,455,000 | -83,625,000 | -51,793,000 |
Accumulated other comprehensive income | 729,000 | 2,471,000 | 4,201,000 | 8,621,000 | 10,185,000 | 10,008,000 | 9,982,000 | 8,751,000 | 10,200,000 | 13,071,000 | 12,325,000 | 10,987,000 |
TOTAL GENERAL STEEL HOLDINGS, INC. DEFICIENCY | -305,086,000 | -303,695,000 | -306,036,000 | -262,135,000 | -263,946,000 | -214,420,000 | -173,105,000 | -146,566,000 | -107,291,000 | 27,052,000 | 39,833,000 | 69,553,000 |
NONCONTROLLING INTERESTS | -188,911,000 | -169,415,000 | -192,266,000 | -165,590,000 | -172,063,000 | -153,852,000 | -128,945,000 | -113,469,000 | -56,189,000 | 23,482,000 | 34,699,000 | 51,969,000 |
TOTAL DEFICIENCY | -493,997,000 | -473,110,000 | -498,302,000 | -427,725,000 | -436,009,000 | -368,272,000 | -302,050,000 | -260,035,000 | -163,480,000 | 50,534,000 | 74,532,000 | 121,522,000 |
TOTAL LIABILITIES AND DEFICIENCY | $2,700,358,000 | $2,672,026,000 | $2,454,614,000 | $2,440,598,000 | $2,650,682,000 | $2,608,564,000 | $2,761,118,000 | $3,266,825,000 | $3,054,121,000 | $2,885,853,000 | $2,531,022,000 | $1,799,380,000 |
CONSOLIDATED_BALANCE_SHEETS_Pa
CONSOLIDATED BALANCE SHEETS [Parenthetical] (USD $) | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Dec. 31, 2010 |
Preferred Stock, par or stated value (in dollars per share) | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ' | ' | $0.00 |
Preferred stock, shares authorized | 50,000,000 | 50,000,000 | 50,000,000 | 50,000,000 | 50,000,000 | 50,000,000 | 50,000,000 | 50,000,000 | 50,000,000 | 50,000,000 | ' | ' | 50,000,000 |
Preferred stock, shares issued | 3,092,899 | 3,092,899 | 3,092,899 | 3,092,899 | 3,092,899 | 3,092,899 | 3,092,899 | 3,092,899 | 3,092,899 | 3,092,899 | ' | ' | 3,092,899 |
Preferred stock, shares outstanding | 3,092,899 | 3,092,899 | 3,092,899 | 3,092,899 | 3,092,899 | 3,092,899 | 3,092,899 | 3,092,899 | 3,092,899 | 3,092,899 | ' | ' | 3,092,899 |
Common Stock, par or stated value (in dollars per share) | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ' | $0.00 |
Common stock, shares authorized | 200,000,000 | 200,000,000 | 200,000,000 | 200,000,000 | 200,000,000 | 200,000,000 | 200,000,000 | 200,000,000 | 200,000,000 | 200,000,000 | 200,000,000 | ' | 200,000,000 |
Common stock, shares, issued | 58,234,688 | 57,771,038 | 57,607,888 | 57,444,738 | 57,269,838 | 57,100,688 | 56,932,788 | 56,767,388 | 56,601,988 | 56,435,838 | 56,246,188 | ' | 54,678,083 |
Common stock, shares, outstanding | 55,762,382 | 55,298,732 | 55,135,582 | 57,269,838 | 54,797,532 | 54,628,382 | 54,460,482 | 55,676,410 | 55,511,010 | 55,344,860 | 55,155,210 | ' | 54,522,973 |
Treasury stock, shares | 2,472,306 | 2,472,306 | 2,472,306 | 2,472,306 | 2,472,306 | 2,472,306 | 2,472,306 | 1,090,978 | 1,090,978 | 1,090,978 | 1,090,978 | 713,660 | 316,760 |
CONSOLIDATED_STATEMENTS_OF_OPE
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS(USD ($)) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||||||||||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Sep. 30, 2010 | Jun. 30, 2010 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2011 | Jun. 30, 2010 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
SALES | $514,549 | $517,350 | $502,431 | $518,542 | $538,986 | $383,797 | $662,437 | $814,599 | $501,479 | $340,703 | $383,173 | $1,019,781 | $922,783 | $1,316,078 | $700,801 | $1,534,330 | $1,441,325 | $1,978,515 | $1,041,504 | $2,016,548 | $1,966,391 | $2,452,127 | $1,392,770 |
SALES - RELATED PARTIES | 95,546 | 136,301 | 148,860 | 192,883 | 241,697 | 264,244 | 335,724 | 247,132 | 208,985 | 119,574 | 118,506 | 285,161 | 505,941 | 456,117 | 253,901 | 380,707 | 698,824 | 791,841 | 373,475 | 447,199 | 897,202 | 1,111,769 | 489,370 |
TOTAL SALES | 610,095 | 653,651 | 651,291 | 711,425 | 780,683 | 648,041 | 998,161 | 1,061,731 | 710,464 | 460,277 | 501,679 | 1,304,942 | 1,428,724 | 1,772,195 | 954,702 | 1,915,037 | 2,140,149 | 2,770,356 | 1,414,979 | 2,463,747 | 2,863,593 | 3,563,896 | 1,882,140 |
COST OF GOODS SOLD | 511,932 | 540,271 | 498,626 | 528,586 | 516,277 | 381,726 | 639,663 | 793,298 | 497,915 | 334,856 | 369,433 | 1,038,897 | 898,003 | 1,291,213 | 686,996 | 1,550,829 | 1,426,589 | 1,930,876 | 1,021,852 | 2,062,570 | 1,930,793 | 2,519,183 | 1,369,523 |
COST OF GOODS SOLD - RELATED PARTIES | 89,932 | 148,916 | 148,598 | 196,435 | 236,362 | 260,685 | 324,448 | 245,093 | 207,500 | 111,832 | 124,882 | 297,514 | 497,047 | 452,593 | 254,596 | 387,446 | 693,482 | 777,041 | 366,428 | 457,115 | 900,681 | 1,132,927 | 481,202 |
TOTAL COST OF GOODS SOLD | 601,864 | 689,187 | 647,224 | 725,021 | 752,639 | 642,411 | 964,111 | 1,038,391 | 705,415 | 446,688 | 494,315 | 1,336,411 | 1,395,050 | 1,743,806 | 941,592 | 1,938,275 | 2,120,071 | 2,707,917 | 1,388,280 | 2,519,685 | 2,831,474 | 3,652,110 | 1,850,725 |
GROSS (LOSS) PROFIT | 8,231 | -35,536 | 4,067 | -13,596 | 28,044 | 5,630 | 34,050 | 23,340 | 5,049 | 13,589 | 7,364 | -31,469 | 33,674 | 28,389 | 13,110 | -23,238 | 20,078 | 62,439 | 26,699 | -55,938 | 32,119 | -88,214 | 31,415 |
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES | -19,661 | -20,848 | -18,955 | -22,787 | -20,132 | -18,629 | -24,309 | -27,033 | -14,501 | -9,560 | -13,677 | -39,803 | -38,761 | -41,534 | -25,813 | -59,464 | -61,548 | -65,843 | -35,373 | -84,226 | -105,077 | -91,827 | -52,577 |
CHANGE IN FAIR VALUE OF PROFIT SHARING LIABILITY | 39,164 | 9,494 | 46,779 | -5,611 | -5,620 | -5,630 | -5,407 | -3,336 | 0 | 0 | 0 | 56,273 | -11,250 | -3,336 | 0 | 95,437 | -16,861 | -8,743 | 0 | 174,569 | -22,499 | -14,047 | 0 |
INCOME (LOSS) FROM OPERATIONS | 27,734 | -46,890 | 31,891 | -41,994 | 2,292 | -18,629 | 4,334 | -7,029 | -9,452 | 4,029 | -6,313 | -14,999 | -16,337 | -16,481 | -12,703 | 12,735 | -58,331 | -12,147 | -8,674 | 34,405 | -95,457 | -194,088 | -21,162 |
OTHER INCOME (EXPENSE) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest income | 2,835 | 3,383 | 2,439 | 4,337 | 3,146 | 5,556 | 1,201 | 816 | 1,063 | 1,739 | 617 | 5,822 | 8,702 | 1,879 | 1,737 | 8,657 | 13,039 | 3,080 | 3,476 | 11,214 | 15,059 | 7,892 | 6,154 |
Finance/interest expense | -22,842 | -21,216 | -24,857 | -31,004 | -48,328 | -42,736 | -29,674 | -19,781 | -14,119 | -10,190 | -16,464 | -46,073 | -91,064 | -33,900 | -27,427 | -68,915 | -122,068 | -63,574 | -37,617 | -91,878 | -153,743 | -100,902 | -51,283 |
Change in fair value of derivative liabilities - warrants | 0 | 0 | -1 | -55 | 20 | -13 | 135 | 1,839 | 3,552 | -1,089 | 10,729 | 1 | 7 | 5,391 | 14,668 | 1 | -48 | 5,526 | 13,579 | 1 | 9 | 5,563 | 15,055 |
Gain on debt settlement | 0 | 0 | ' | 0 | 0 | ' | 0 | 3,430 | ' | 0 | 0 | 0 | 0 | 3,430 | 0 | 0 | 0 | 3,430 | 0 | 0 | 0 | 3,430 | 0 |
Gain (loss) on disposal of equipment and intangible assets | 17 | -235 | 331 | 293 | 3 | -119 | 689 | 387 | -397 | -2,781 | -227 | 96 | -116 | -10 | -343 | 113 | 177 | 679 | -3,124 | 424 | -2,134 | 693 | -9,447 |
Government grant | 0 | ' | ' | 0 | ' | ' | 0 | ' | ' | 1,381 | ' | ' | ' | ' | ' | 0 | 0 | 0 | 1,381 | 4,216 | 2,253 | 0 | 0 |
Realized income from future contracts | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 415 | 1,424 |
Income from equity investments | 47 | 132 | -42 | 44 | 79 | -43 | 790 | 1,856 | 1,655 | 838 | 3,074 | 90 | 36 | 3,511 | 3,229 | 137 | 80 | 4,301 | 4,067 | 203 | 217 | 5,302 | 6,383 |
Foreign currency transaction gain (loss) | 322 | 98 | 28 | -581 | -973 | 385 | 1,271 | 1,030 | 619 | 0 | 0 | 126 | -588 | 1,649 | 0 | 448 | -1,169 | 2,920 | 0 | 1,394 | -1,248 | 3,424 | 0 |
Lease income | 542 | 539 | 532 | 528 | 530 | 530 | 525 | 512 | 452 | 277 | 184 | 1,071 | 1,060 | 964 | 320 | 1,613 | 1,588 | 1,489 | 598 | 2,158 | 2,119 | 2,008 | 943 |
Gain on deconsolidation of a subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,011 | 0 | 0 | 0 |
Payment for public highway construction | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -6,462 | 0 | 0 | 0 |
Other non-operating income (expense), net | 770 | 521 | 268 | 2,314 | 1,145 | -143 | -1,047 | -455 | 305 | 1,141 | 855 | 789 | 1,002 | -150 | 1,014 | 1,559 | 3,316 | -1,197 | 2,154 | 1,043 | 1,783 | -1,442 | -3,120 |
Other expense, net | -18,309 | -16,778 | -21,300 | -24,124 | -44,378 | -36,583 | -26,110 | -10,366 | -6,870 | -8,684 | -1,232 | -38,078 | -80,961 | -17,236 | -6,802 | -56,387 | -105,085 | -43,346 | -15,486 | -76,676 | -135,685 | -73,617 | -33,891 |
INCOME (LOSS) BEFORE PROVISION FOR INCOME TAXES AND NONCONTROLLING INTEREST | 9,425 | -63,668 | 10,591 | -66,118 | -42,086 | -55,212 | -21,776 | -17,395 | -16,322 | -4,655 | -7,545 | -53,077 | -97,298 | -33,717 | -19,505 | -43,652 | -163,416 | -55,493 | -24,160 | -42,271 | -231,142 | -267,705 | -55,053 |
PROVISION FOR INCOME TAXES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Current | 25 | 105 | 71 | 100 | 43 | 367 | 410 | 0 | 750 | 5,332 | 170 | 176 | 410 | 207 | 584 | 201 | 510 | 617 | 860 | 354 | 627 | 175 | 1,267 |
Deferred | 0 | 0 | 0 | 0 | 0 | 169 | 144 | 18,198 | -3,501 | -5,676 | -2,973 | 0 | 169 | 15,240 | -5,324 | 0 | 169 | 15,384 | -5,944 | 0 | 169 | 15,419 | -10,049 |
Provision for income taxes | 25 | 105 | 71 | 100 | 43 | 536 | 554 | 18,198 | -2,751 | -344 | -2,803 | 176 | 579 | 15,447 | -4,740 | 201 | 679 | 16,001 | -5,084 | 354 | 796 | 15,594 | -8,782 |
NET INCOME (LOSS) | 9,400 | -63,773 | 10,520 | -66,218 | -42,129 | -55,748 | -22,330 | -35,593 | -13,571 | -4,311 | -4,742 | -53,253 | -97,877 | -49,164 | -14,765 | -43,853 | -164,095 | -71,494 | -19,076 | -42,625 | -231,938 | -283,299 | -46,271 |
Less: Net loss attributable to noncontrolling interest | 5,599 | -23,955 | 7,417 | -24,620 | -15,752 | -20,964 | -8,500 | -12,678 | -4,654 | -527 | -2,738 | -16,538 | -36,716 | -17,332 | -7,149 | -10,939 | -61,336 | -25,832 | -7,676 | -9,609 | -79,241 | -106,112 | -16,265 |
NET LOSS ATTRIBUTABLE TO GENERAL STEEL HOLDINGS, INC. | 3,801 | -39,818 | 3,103 | -41,598 | -26,377 | -34,784 | -13,830 | -22,915 | -8,917 | -3,784 | -2,004 | -36,715 | -61,161 | -31,832 | -7,616 | -32,914 | -102,759 | -45,662 | -11,400 | -33,016 | -152,697 | -177,187 | -30,006 |
NET INCOME (LOSS) | 9,400 | -63,773 | 10,520 | -66,218 | -42,129 | -55,748 | -22,330 | -35,593 | -13,571 | -4,311 | -4,742 | -53,253 | -97,877 | -49,164 | -14,765 | -43,853 | -164,095 | -71,494 | -19,076 | -42,625 | -231,938 | -283,299 | -46,271 |
OTHER COMPREHENSIVE LOSS | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Foreign currency translation adjustments | -2,547 | -7,210 | -2,526 | -698 | 1,590 | -1,469 | 999 | -287 | 1,687 | 3,295 | 312 | -9,736 | 121 | 1,400 | 151 | -12,283 | -577 | 2,399 | 3,446 | -14,425 | -744 | -587 | 4,623 |
COMPREHENSIVE INCOME (LOSS) | 6,853 | -70,983 | 7,994 | -66,916 | -40,539 | -57,217 | -21,331 | -35,880 | -11,884 | -1,016 | -4,430 | -62,989 | -97,756 | -47,764 | -14,614 | -56,136 | -164,672 | -69,095 | -15,630 | -57,050 | -232,682 | -283,886 | -41,648 |
Less: Comprehensive income (loss) attributable to noncontrolling interest | 4,782 | -26,745 | 6,455 | -24,888 | -15,393 | -21,440 | -8,247 | -12,858 | -4,412 | 553 | -2,740 | -20,290 | -36,833 | -17,270 | -7,032 | -15,508 | -61,721 | -25,517 | -6,479 | -15,107 | -79,970 | -105,912 | -14,511 |
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO GENERAL STEEL HOLDINGS, INC. | $2,071 | ($44,238) | $1,539 | ($42,028) | ($25,146) | ($35,777) | ($13,084) | ($23,022) | ($7,472) | ($1,569) | ($1,690) | ($42,699) | ($60,923) | ($30,494) | ($7,582) | ($40,628) | ($102,951) | ($43,578) | ($9,151) | ($41,943) | ($152,712) | ($177,974) | ($27,137) |
WEIGHTED AVERAGE NUMBER OF SHARES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic and Diluted (in shares) | 55,141 | 54,980 | 54,805 | 54,466 | 54,857 | 55,520 | 55,166 | 54,318 | 54,840 | 53,941 | 52,112 | 54,893 | 55,188 | 54,233 | 51,883 | 54,976 | 54,946 | 54,547 | 52,577 | 55,126 | 54,867 | 54,750 | 53,113 |
LOSS PER SHARE | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic and Diluted (in dollars per share) | $0.07 | ($0.72) | $0.06 | ($0.76) | ($0.48) | ($0.63) | ($0.25) | ($0.42) | ($0.16) | ($0.07) | ($0.04) | ($0.67) | ($1.11) | ($0.59) | ($0.15) | ($0.60) | ($1.87) | ($0.84) | ($0.22) | ($0.60) | ($2.78) | ($3.24) | ($0.56) |
CONSOLIDATED_STATEMENTS_OF_CHA
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (USD $) | Total | Preferred Stock [Member] | Common Stock [Member] | Treasury Stock [Member] | Additional Paid-in Capital [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Noncontrolling Interest [Member] | Unrestricted Reserves [Member] | Statutory Reserves [Member] |
BALANCE at Dec. 31, 2010 | $121,522,000 | $3,000 | $55,000 | ' | ' | ' | ' | ' | ' |
BALANCE (in shares) at Dec. 31, 2010 | ' | 3,093,000 | 54,840,000 | ' | ' | ' | ' | ' | ' |
Net loss attributable to General Steel Holdings, Inc. | -31,832,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Net loss attributable to noncontrolling interest | -17,332,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock issued for debt settlement | ' | ' | 4,900,000 | ' | ' | ' | ' | ' | ' |
Common stock issued for debt settlement (in shares) | ' | ' | 974,571 | ' | ' | ' | ' | ' | ' |
BALANCE at Jun. 30, 2011 | 74,532,000 | ' | ' | ' | ' | ' | ' | ' | ' |
BALANCE at Dec. 31, 2010 | 121,522,000 | 3,000 | 55,000 | ' | ' | ' | ' | ' | ' |
BALANCE (in shares) at Dec. 31, 2010 | ' | 3,093,000 | 54,840,000 | ' | ' | ' | ' | ' | ' |
Net loss attributable to General Steel Holdings, Inc. | -45,662,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Net loss attributable to noncontrolling interest | -25,832,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock issued for debt settlement | ' | ' | 4,900,000 | ' | ' | ' | ' | ' | ' |
Common stock issued for debt settlement (in shares) | ' | ' | 974,571 | ' | ' | ' | ' | ' | ' |
BALANCE at Sep. 30, 2011 | 50,534,000 | ' | ' | ' | ' | ' | ' | ' | ' |
BALANCE at Dec. 31, 2010 | 121,522,000 | 3,000 | 55,000 | -871,000 | 104,970,000 | 10,987,000 | 51,969,000 | -51,793,000 | 6,202,000 |
BALANCE (in shares) at Dec. 31, 2010 | ' | 3,093,000 | 54,840,000 | -317,000 | ' | ' | ' | ' | ' |
Net loss attributable to General Steel Holdings, Inc. | -177,187,000 | ' | ' | ' | ' | ' | ' | -177,187,000 | ' |
Net loss attributable to noncontrolling interest | -106,112,000 | ' | ' | ' | ' | ' | -106,112,000 | ' | ' |
Adjustment to statutory reserve | 609,000 | ' | ' | ' | ' | ' | 608,000 | -103,000 | 104,000 |
Adjustment to special reserve | 210,000 | ' | ' | ' | ' | ' | 128,000 | ' | 82,000 |
Common stock issued for compensation | 1,254,000 | ' | 790 | ' | 1,253,000 | ' | ' | ' | ' |
Common stock issued for compensation (in shares) | ' | ' | 788,000 | ' | ' | ' | ' | ' | ' |
Common stock issued for debt settlement | 1,442,000 | ' | 970 | ' | 1,441,000 | ' | ' | ' | ' |
Common stock issued for debt settlement (in shares) | ' | ' | 974,000 | ' | ' | ' | ' | ' | ' |
Common stock transferred by CEO for compensation | 276,000 | ' | ' | ' | 276,000 | ' | ' | ' | ' |
Treasury stock purchased | -1,925,000 | ' | -770 | -1,924,000 | ' | ' | ' | ' | ' |
Treasury stock purchased (in shares) | ' | ' | ' | -774,000 | ' | ' | ' | ' | ' |
Dividend declared to noncontrolling shareholders | -2,982,000 | ' | ' | ' | ' | ' | -2,982,000 | ' | ' |
Foreign currency translation adjustments | -587,000 | ' | ' | ' | ' | -787,000 | 200,000 | ' | ' |
BALANCE at Dec. 31, 2011 | -163,480,000 | 3,000 | 56,000 | -2,795,000 | 107,940,000 | 10,200,000 | -56,189,000 | -229,083,000 | 6,388,000 |
BALANCE (in shares) at Dec. 31, 2011 | ' | 3,093,000 | 56,602,000 | -1,091,000 | ' | ' | ' | ' | ' |
Net loss attributable to General Steel Holdings, Inc. | -102,759,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Net loss attributable to noncontrolling interest | -61,336,000 | ' | ' | ' | ' | ' | -61,336,000 | ' | ' |
Usage of special reserve | ' | ' | ' | ' | ' | ' | -350,000 | ' | ' |
Deconsolidation of a subsidiary | ' | ' | ' | ' | ' | ' | -35,943,000 | ' | ' |
BALANCE at Sep. 30, 2012 | -368,272,000 | ' | ' | ' | ' | ' | ' | ' | ' |
BALANCE at Dec. 31, 2011 | -163,480,000 | 3,000 | 56,000 | -2,795,000 | 107,940,000 | 10,200,000 | -56,189,000 | -229,083,000 | 6,388,000 |
BALANCE (in shares) at Dec. 31, 2011 | ' | 3,093,000 | 56,602,000 | -1,091,000 | ' | ' | ' | ' | ' |
Net loss attributable to General Steel Holdings, Inc. | -152,697,000 | ' | ' | ' | ' | ' | ' | -152,697,000 | ' |
Net loss attributable to noncontrolling interest | -79,241,000 | ' | ' | ' | ' | ' | -79,241,000 | ' | ' |
Adjustment to statutory reserve | 0 | ' | ' | ' | ' | ' | ' | -2,000 | 2,000 |
Adjustment to special reserve | 1,296,000 | ' | ' | ' | ' | ' | 605,000 | ' | 691,000 |
Common stock issued for compensation | 642,000 | ' | 1,000 | ' | 641,000 | ' | ' | ' | ' |
Common stock issued for compensation (in shares) | ' | ' | 668,000 | ' | ' | ' | ' | ' | ' |
Common stock transferred by CEO for compensation | 276,000 | ' | ' | ' | 276,000 | ' | ' | ' | ' |
Treasury stock purchased | -1,404,000 | ' | ' | -1,404,000 | ' | ' | ' | ' | ' |
Treasury stock purchased (in shares) | ' | ' | ' | -1,381,000 | ' | ' | ' | ' | ' |
Foreign currency translation adjustments | -744,000 | ' | ' | ' | ' | -15,000 | -729,000 | ' | ' |
Usage of special reserve | -1,259,000 | ' | ' | ' | ' | ' | -566,000 | ' | -693,000 |
Deconsolidation of a subsidiary | -39,398,000 | ' | ' | ' | -3,143,000 | ' | -35,943,000 | ' | -312,000 |
BALANCE at Dec. 31, 2012 | -436,009,000 | 3,000 | 57,000 | -4,199,000 | 105,714,000 | 10,185,000 | -172,063,000 | -381,782,000 | 6,076,000 |
BALANCE (in shares) at Dec. 31, 2012 | ' | 3,093,000 | 57,270,000 | -2,472,000 | ' | ' | ' | ' | ' |
Net loss attributable to General Steel Holdings, Inc. | -33,016,000 | ' | ' | ' | ' | ' | ' | -33,016,000 | ' |
Net loss attributable to noncontrolling interest | -9,609,000 | ' | ' | ' | ' | ' | -9,609,000 | ' | ' |
Adjustment to special reserve | 1,172,000 | ' | ' | ' | ' | ' | 553,000 | ' | 619,000 |
Common stock issued for compensation | 634,000 | ' | 1,000 | ' | 633,000 | ' | ' | ' | ' |
Common stock issued for compensation (in shares) | ' | ' | 665,000 | ' | ' | ' | ' | ' | ' |
Common stock transferred by CEO for compensation | 276,000 | ' | ' | ' | 276,000 | ' | ' | ' | ' |
Foreign currency translation adjustments | -14,425,000 | ' | ' | ' | ' | -8,927,000 | -5,498,000 | ' | ' |
Usage of special reserve | -845,000 | ' | ' | ' | ' | ' | -393,000 | ' | -452,000 |
Common stock issued for services | 255,000 | ' | ' | ' | 255,000 | ' | ' | ' | ' |
Common stock issued for services (in shares) | ' | ' | 300,000 | ' | ' | ' | ' | ' | ' |
Addition to Tianwu paid-in capital | 18,028,000 | ' | ' | ' | ' | ' | 18,028,000 | ' | ' |
Deconsolidation of a subsidiary | -20,458,000 | ' | ' | ' | ' | -529,000 | -19,929,000 | ' | ' |
BALANCE at Dec. 31, 2013 | ($493,997,000) | $3,000 | $58,000 | ($4,199,000) | $106,878,000 | $729,000 | ($188,911,000) | ($414,798,000) | $6,243,000 |
BALANCE (in shares) at Dec. 31, 2013 | ' | 3,093,000 | 58,235,000 | -2,472,000 | ' | ' | ' | ' | ' |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||
In Thousands, unless otherwise specified | Mar. 31, 2013 | Mar. 31, 2012 | Mar. 31, 2011 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2011 | Jun. 30, 2010 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
CASH FLOWS FROM OPERATING ACTIVITIES: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net loss | $10,520 | ($55,748) | ($13,571) | ($53,253) | ($97,877) | ($49,164) | ($14,765) | ($43,853) | ($164,095) | ($71,494) | ($19,076) | ($42,625) | ($231,938) | ($283,299) | ($46,271) |
Adjustments to reconcile net loss to cash provided by (used in) operating activities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Depreciation, amortization and depletion | 21,358 | 20,559 | 8,922 | 43,067 | 41,329 | 22,022 | 19,334 | 64,955 | 62,538 | 40,385 | 31,175 | 89,048 | 83,931 | 58,331 | 41,153 |
Impairment of plant and equipment | ' | ' | ' | 0 | 0 | 5,361 | 1,733 | 0 | 0 | 5,412 | 1,737 | 0 | 20,173 | 5,424 | 1,747 |
Change in fair value of derivative liabilities - warrants | -1 | 13 | -3,552 | -1 | -7 | -5,391 | -14,668 | -1 | 48 | -5,526 | -13,579 | -1 | -9 | -5,563 | -15,055 |
Change in fair value of profit sharing liability | -46,779 | 5,630 | 0 | -56,273 | 11,250 | 3,336 | 0 | -95,437 | 16,861 | 8,743 | 0 | -174,569 | 22,499 | 14,047 | 0 |
Gain on debt settlement | ' | ' | ' | 0 | 0 | -3,430 | 0 | 0 | 0 | -3,430 | 0 | 0 | 0 | -3,430 | 0 |
(Gain) loss on disposal of equipment and intangible assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -424 | 2,134 | -693 | 8,257 |
Gain on disposal of equipment | -331 | 119 | 397 | -96 | 74 | 10 | 343 | -113 | -177 | -679 | 3,124 | ' | ' | ' | ' |
Provision for doubtful accounts | -42 | 5 | 5 | -169 | 5 | 0 | 0 | -251 | 2,316 | 127 | 0 | -677 | -157 | 3,529 | 326 |
Inventory written-off | 13,400 | 13,400 | ' | 13,800 | 16,900 | 1,300 | ' | 7,300 | 14,000 | 2,700 | ' | 0 | 38,500 | 37,512 | 1,061 |
Reservation of mine maintenance fee | 45 | 254 | 0 | 215 | 50 | 0 | 0 | 315 | 3 | 0 | 0 | 327 | 37 | 0 | 0 |
Stock issued for services and compensation | 245 | 262 | 647 | 480 | 394 | 994 | 1,507 | 692 | 679 | 1,288 | 2,018 | 1,165 | 918 | 1,530 | 2,479 |
Income from compensation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | -1,377 |
Make whole shares interest expense on notes conversion | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | 1,130 | 0 | 0 | 0 | 1,130 |
Amortization of deferred note issuance cost and discount on convertible notes | ' | ' | ' | 0 | 0 | 0 | 13 | 0 | 0 | 0 | 17 | 0 | 0 | 0 | 17 |
Amortization of deferred financing cost on capital lease | 5,095 | 5,209 | 0 | 10,217 | 10,377 | 3,362 | 0 | 15,338 | 15,502 | 8,539 | 0 | 20,799 | 20,623 | 13,657 | 0 |
Income from equity investments | 42 | 43 | -1,655 | -90 | -36 | -3,511 | -3,229 | -137 | -80 | -4,301 | -4,067 | -203 | -217 | -5,302 | -6,383 |
Foreign currency transaction (gain) loss | -28 | -385 | -619 | -126 | 588 | -1,649 | 0 | -448 | 1,169 | -2,920 | 0 | -1,394 | 1,248 | -3,424 | 0 |
Gain on deconsolidation of a subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,011 | 0 | 0 | 0 |
Deferred tax assets | 0 | 169 | -2,730 | 0 | 169 | 15,240 | -5,434 | 0 | 169 | 15,384 | -5,885 | 0 | 169 | 15,419 | -10,058 |
Deferred lease income | -532 | -530 | 6,220 | -1,071 | -1,060 | 5,746 | 42 | -1,613 | -1,588 | 5,286 | 2,265 | -2,158 | -2,119 | 4,782 | 5,549 |
Gain on stock issued as loan repayment | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | -3,430 | 0 | ' | ' | ' | ' |
Changes in operating assets and liabilities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Notes receivable | 27,752 | 22,048 | -68,315 | -64,424 | 11,728 | -43,854 | -26,939 | 32,138 | -99,337 | 19,497 | -36,702 | 25,555 | -53,946 | -41,318 | -18,498 |
Accounts receivable | -9,426 | -5,887 | -7,269 | -33,951 | 3,789 | -32,086 | -12,161 | -483 | 5,429 | -18,986 | -12,190 | 1,281 | 6,694 | 4,761 | -8,647 |
Accounts receivable - related parties | 6,808 | -32,374 | 3,591 | 8,969 | -66,664 | -38,750 | -1,015 | 11,968 | -7,607 | -6,207 | 0 | 12,161 | 5,835 | -16,015 | 14,065 |
Other receivables | -2,826 | 3,371 | 3,686 | -857 | 2,403 | -1,947 | -1,570 | -3,466 | -5,460 | -8,626 | 1,323 | -1,116 | 7,221 | -12,638 | -3,210 |
Other receivables - related parties | -20,212 | -5,999 | 17,436 | 10,275 | 15,729 | -54,657 | -550 | -55,744 | 4,784 | -50,311 | -26,404 | -48,017 | 1,820 | -50,562 | -2,968 |
Inventories | -37,526 | -61,814 | -41,747 | 38,014 | -24,713 | -10,460 | -79,299 | 4,191 | 73,024 | 35,305 | -44,861 | -40,632 | 86,635 | 131,695 | -270,046 |
Advances on inventory purchases | 22,786 | -36,580 | -7,451 | 23,215 | -36,985 | -25,304 | -11,512 | 1,996 | -23,365 | -81,430 | -12,921 | 25,414 | -18,677 | -37,674 | 4,681 |
Advances on inventory purchases - related parties | -46,883 | -68,061 | -3,137 | -48,019 | -54,790 | -6,745 | -5,431 | -27,882 | -88,412 | -72,402 | -52,665 | -145,686 | -69,573 | -13,608 | 13,782 |
Prepaid expense and other | -1,039 | 32 | 0 | -1,115 | -181 | 4,753 | 0 | -1,016 | -183 | 4,214 | 0 | -916 | -83 | 4,753 | 0 |
Long-term deferred expense | 260 | 88 | 0 | 317 | 131 | 723 | 0 | 373 | 119 | 793 | 0 | 422 | -424 | 845 | 0 |
Prepaid taxes | 1,049 | 5,513 | 0 | 2,742 | 1,760 | 22,256 | 0 | 8,250 | 4,168 | 22,982 | 0 | -3,485 | 320 | 14,223 | 0 |
Accounts payable | 57,648 | -104,700 | 27,484 | 43,122 | -49,095 | 79,242 | 35,734 | 113,592 | -48,059 | 153,604 | 12,513 | 23,760 | -35,719 | 160,657 | 76,003 |
Accounts payable - related parties | 39,661 | 103,918 | 34,958 | 55,227 | 54,720 | 45,926 | 37,605 | 54,364 | 31,353 | 31,609 | 30,294 | 113,034 | 90,833 | 38,647 | 45,480 |
Other payables and accrued liabilities | 1,887 | -5,924 | 8,246 | 5,002 | 4,254 | 5,258 | 2,426 | -3,742 | 34,286 | 6,819 | -3,542 | -10,508 | 14,138 | 18,076 | -1,527 |
Other payables - related parties | 8,789 | 72,220 | -14,732 | -16,987 | 110,061 | -354 | 22,656 | -12,844 | 95,746 | -3,827 | 18,510 | 8,332 | 49,991 | 9,845 | 30,618 |
Customer deposits | -21,956 | -10,653 | 103,096 | -6,103 | -2,418 | 38,685 | -20,270 | -33,185 | -9,490 | 53,645 | -19,283 | -41,069 | 34,410 | -46,870 | -24,433 |
Customer deposits - related parties | -9,457 | -11,467 | -14,583 | -14,502 | -29,781 | 9,671 | 25,081 | -7,981 | 14,740 | -2,241 | 43,045 | 41,636 | -46,960 | 11,211 | 18,855 |
Taxes payable | -4,427 | -6,355 | 18,791 | -6,639 | -4,785 | 6,248 | 4,966 | -7,317 | -5,195 | 5,501 | 811 | -12,367 | 4,957 | 4,834 | -19,543 |
Other noncurrent liabilities | 1,370 | 0 | 0 | 1,378 | 0 | 0 | ' | 1,384 | 0 | 0 | 0 | ' | ' | ' | ' |
Net cash (used in) provided by operating activities | 3,850 | -167,024 | 54,118 | -61,436 | -99,581 | -8,469 | -45,403 | 14,043 | -90,114 | 87,167 | -103,129 | -163,924 | -5,236 | 33,382 | -162,813 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restricted cash | 54,991 | -54,126 | -4,516 | -49,988 | -5,671 | 15,017 | -76,526 | -72,676 | -35,094 | 13,173 | 9,281 | -64,860 | 78,826 | -190,178 | 741 |
Acquired long term investment | ' | ' | ' | 0 | 0 | 0 | -1,273 | 0 | 0 | 0 | -1,277 | 0 | ' | 0 | -2,021 |
Loans to related parties | 0 | -65,359 | 0 | 0 | -69,303 | 0 | 0 | 1,460 | -69,247 | 0 | 0 | -200 | -69,299 | 0 | 0 |
Repayments from related parties | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,660 | 0 | 0 | 0 |
Cash proceeds from disposal of long-term investment | ' | ' | ' | 0 | 0 | 0 | 3,667 | 0 | 0 | 0 | 3,678 | 0 | 0 | 0 | 8,137 |
Cash proceeds from (made to) short term investment | 0 | 79 | 0 | 80 | 79 | 0 | 0 | -80 | 40 | -2,620 | 0 | -81 | 317 | -2,858 | 0 |
Cash proceeds from sales of equipments and intangible assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 160 | 337 | 1,306 | 1,828 |
Long-term other receivable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | -42,994 | 0 | 0 |
Equipment purchase and intangible assets | -24,093 | -10,729 | -11,102 | -52,350 | -20,550 | -31,097 | -39,508 | -75,326 | -15,909 | -54,494 | -69,604 | -43,355 | -27,976 | -110,939 | -97,022 |
Other investing activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13,619 | 0 | 0 | 0 |
Effect on cash due to deconsolidating of a subsidiary | 0 | -2,977 | 0 | 0 | -2,975 | 0 | 0 | 0 | -2,972 | 0 | 0 | -12,735 | -2,975 | 0 | 0 |
Divident receivable | ' | ' | ' | 0 | 0 | 0 | -1,554 | 0 | 0 | 0 | 938 | ' | ' | ' | ' |
Cash proceeds from sales of equipment | 4 | 0 | 328 | 16 | 4 | 258 | 60 | 16 | 19 | 1,271 | 306 | ' | ' | ' | ' |
Cash proceeds from investment in future contracts | ' | ' | ' | 0 | 0 | 410 | 0 | ' | ' | ' | ' | ' | ' | ' | ' |
Payments to original shareholders | ' | ' | ' | 0 | 0 | 0 | -2,460 | ' | ' | ' | ' | ' | ' | ' | ' |
Net cash used in investing activities | 30,902 | -133,112 | -15,290 | -102,242 | -98,416 | -15,412 | -117,594 | -146,606 | -123,163 | -42,670 | -56,678 | -105,792 | -63,764 | -302,669 | -88,337 |
CASH FLOWS FINANCING ACTIVITIES: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capital contributed by noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | 18,028 | 0 | 0 | 1,177 | 18,028 | 0 | 0 | 1,184 |
Payments made to dividend distribution | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | -3,835 | 0 | 0 | 0 | -2,855 |
Payments made for treasury stock acquired | ' | ' | -1,128 | 0 | -1,404 | -1,924 | 0 | 0 | -1,404 | -1,925 | 0 | 0 | -1,404 | -1,923 | -870 |
Notes receivable - restricted | 99,224 | -19,891 | -81,509 | 244,940 | 364,325 | 63,055 | -24,223 | 10,218 | 521,866 | -264,708 | -12,530 | -26,066 | 232,218 | -329,839 | -234,342 |
Borrowings on short term notes payable | 289,548 | 467,269 | 243,985 | 812,577 | 921,101 | 400,543 | 131,882 | 1,348,631 | 1,382,976 | 446,532 | 224,425 | 1,913,987 | 1,923,584 | 563,007 | 327,807 |
Payments on short term notes payable | -493,064 | -341,435 | -169,105 | -1,001,301 | -1,134,080 | -542,672 | 0 | -1,370,832 | -1,637,570 | -337,038 | -198,770 | -1,911,006 | -2,064,571 | -600,294 | -199,905 |
Borrowings on short term loans - bank | 32,563 | 150,252 | 85,312 | 141,484 | 184,477 | 235,006 | 133,196 | 258,357 | 237,535 | 245,381 | 128,115 | 371,685 | 260,611 | 330,037 | 152,517 |
Payments on short term loans - bank | -63,315 | -87,102 | -59,876 | -83,433 | -241,919 | -212,768 | -105,485 | -155,390 | -355,008 | -151,375 | -137,413 | -222,104 | -371,241 | -212,661 | -174,913 |
Borrowings on short term loan - others | 21,296 | 119,089 | 36,128 | 47,903 | 155,936 | 186,183 | 72,083 | 148,678 | 160,554 | 15,414 | 91,202 | 69,632 | 184,890 | 15,450 | 71,714 |
Payments on short term loans - others | -21,432 | -65,486 | -44,664 | -47,055 | -162,212 | -112,199 | -89,878 | -169,558 | -193,964 | -9,912 | -11,783 | -72,989 | -284,242 | -14,817 | -11,850 |
Borrowings on short term loan - related parties | 142,999 | 85,197 | 0 | 213,576 | 178,454 | 5,662 | 0 | 362,202 | 269,362 | 859,561 | 573,413 | 393,833 | 356,989 | 1,655,741 | 905,124 |
Payments on short term loans - related parties | -30,430 | -54,453 | 0 | -124,059 | -138,320 | 0 | -4,401 | -274,718 | -221,134 | -800,873 | -531,850 | -248,119 | -297,718 | -1,049,680 | -693,633 |
Deposits due to sales representatives | 6,411 | 10,481 | -23,771 | -3,734 | 7,515 | -29,068 | 18,663 | -6,521 | 11,939 | -31,753 | -4,028 | -10,455 | 10,743 | -30,066 | 987 |
Deposit due to sales representatives - related parties | 526 | 286 | 0 | 529 | 286 | 0 | 0 | 531 | 285 | 0 | 0 | 711 | 286 | 464 | 444 |
Borrowings on long term loan - related parties | ' | ' | ' | 0 | 0 | 76,350 | 0 | 0 | 0 | 13,587 | 0 | 0 | 0 | 14,677 | 91,020 |
Payments on current maturities of long-term loans - related party | ' | ' | ' | -17,544 | 0 | -35,144 | 0 | -22,856 | 0 | 0 | 0 | -22,940 | 0 | -16,865 | 0 |
Principal payment under capital lease obligation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -218 | 0 | 0 | 0 |
Long-term other payable - related party | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 42,994 | 0 | 0 |
Net cash provided by (used in) financing activities | -15,674 | 264,207 | -14,628 | 183,883 | 134,159 | 33,024 | 131,837 | 146,770 | 175,437 | -17,109 | 118,123 | 253,979 | -6,861 | 323,231 | 232,429 |
EFFECTS OF EXCHANGE RATE CHANGE IN CASH | 254 | 429 | -161 | 1,199 | 2,226 | 903 | -186 | 1,417 | 1,426 | -946 | 1,344 | 1,237 | 2,312 | 801 | 1,874 |
(DECREASE) INCREASE IN CASH | 19,332 | -35,500 | 24,039 | 21,404 | -61,612 | 10,046 | -31,346 | 15,624 | -36,414 | 26,442 | -40,340 | -14,500 | -73,549 | 54,745 | -16,847 |
CASH, beginning of year | 46,467 | 120,016 | 65,271 | 46,467 | 120,016 | 65,271 | 82,118 | 46,467 | 120,016 | 65,271 | 82,118 | 46,467 | 120,016 | 65,271 | 82,118 |
CASH, end of year | $65,799 | $84,516 | $89,310 | $67,871 | $58,404 | $75,317 | $50,772 | $62,091 | $83,602 | $91,713 | $41,778 | $31,967 | $46,467 | $120,016 | $65,271 |
Organization_and_Operations
Organization and Operations | 9 Months Ended | 12 Months Ended |
Sep. 30, 2013 | Dec. 31, 2013 | |
Organization And Operations [Abstract] | ' | ' |
Organization And Operations [Text Block] | ' | ' |
Note 1 – Background | Note 1 – Organization and Operations | |
General Steel Holdings, Inc. (the “Company”) was incorporated on August 5, 2002 in the state of Nevada. The Company through its 100% owned subsidiary, General Steel Investment, operates steel companies serving various industries in the People’s Republic of China (“PRC”). The Company’s main operation is manufacturing and sales of steel products such as steel rebar, hot-rolled carbon and silicon sheets and spiral-weld pipes. The Company, together with its subsidiaries, majority owned subsidiaries and variable interest entity, is referred to as the “Group”. | General Steel Holdings, Inc. (the “Company”) was incorporated on August 5, 2002 in the state of Nevada. The Company through its 100% owned subsidiary, General Steel Investment, operates steel companies serving various industries in the People’s Republic of China (“PRC”). The Company’s main operation is manufacturing and sales of steel products such as steel rebar, hot-rolled carbon and silicon sheets and spiral-weld pipes. The Company, together with its subsidiaries, majority owned subsidiaries and variable interest entity, is referred to as the “Group”. | |
On April 29, 2011, a 20-year Unified Management Agreement (“the Agreement”) was entered into between the Company, the Company’s 60%-owned subsidiary Shaanxi Longmen Iron and Steel Co., Ltd. (“Longmen Joint Venture”), Shaanxi Coal and Chemical Industry Group Co., Ltd. (“Shaanxi Coal”) and Shaanxi Iron and Steel Group (“Shaanxi Steel”). Shaanxi Steel is the controlling shareholder of Shaanxi Longmen Iron and Steel Group Co., Ltd (“Long Steel Group”) which is the non-controlling interest holder in Longmen Joint Venture, and Shaanxi Coal, a state owned entity, is the parent company of Shaanxi Steel. Under the terms of the Agreement, all manufacturing machinery and equipment of Longmen Joint Venture and the $605.8 million (or approximately RMB 3.7 billion) of newly constructed iron and steel making facilities owned by Shaanxi Steel, which includes one 400 m2 sintering machine, two 1,280 m3 blast furnaces, two 120 ton converters and some auxiliary systems, are managed collectively as a single virtual asset pool (“Asset Pool”). Longmen Joint Venture manages the Asset Pool as the principal operating entity and is responsible for the daily operations of the new and existing facilities. | On April 29, 2011, a 20-year Unified Management Agreement (“the Agreement”) was entered into between the Company, the Company’s 60%-owned subsidiary Shaanxi Longmen Iron and Steel Co., Ltd. (“Longmen Joint Venture”), Shaanxi Coal and Chemical Industry Group Co., Ltd. (“Shaanxi Coal”) and Shaanxi Iron and Steel Group (“Shaanxi Steel”). Shaanxi Steel is the controlling shareholder of Shaanxi Longmen Iron and Steel Group Co., Ltd (“Long Steel Group”) which is the non-controlling interest holder in Longmen Joint Venture, and Shaanxi Coal, a state owned entity, is the parent company of Shaanxi Steel. Under the terms of the Agreement, all manufacturing machinery and equipment of Longmen Joint Venture and the $605.8 million (or approximately RMB 3.7 billion) of newly constructed iron and steel making facilities owned by Shaanxi Steel, which includes one 400m 2 sintering machine, two 1,280m 3 blast furnaces, two 120 ton converters and some auxiliary systems, are managed collectively as a single virtual asset pool (“Asset Pool”). Longmen Joint Venture manages the Asset Pool as the principal operating entity and is responsible for the daily operations of the new and existing facilities. | |
The Agreement leverages each of the parties’ operating strengths, allowing Longmen Joint Venture to derive the greatest benefit from the cooperation and the newly constructed iron and steel making facilities. At the designed efficiency level, these new facilities are expected to contribute three million tons of crude steel production capacity per year. | The Agreement leverages each of the parties’ operating strengths, allowing Longmen Joint Venture to derive the greatest benefit from the cooperation and the newly constructed iron and steel making facilities. At the designed efficiency level, these new facilities are expected to contribute three million tons of crude steel production capacity per year. | |
Longmen Joint Venture pays Shaanxi Steel for the use of the constructed iron and steel making facilities an amount equaling the depreciation expense on the equipment constructed by Shaanxi Steel as well as 40% of the pre-tax profit generated by the Asset Pool. The remaining 60% of the pre-tax profit is allocated to Longmen Joint Venture. As a result, the Company’s economic interest in the profit generated by Longmen Joint Venture decreased from 60% to 36%. However, the overall capacity under the management of Longmen Joint Venture has increased by three million tons, or 75%. The Agreement is also expected to improve Longmen Joint Venture’s cost structure through sustainable and steady sourcing of key raw materials and reduced transportation costs. The distribution of profit is subject to a prospective adjustment after the first two years based on each entity’s actual investment of time and resources into the Asset Pool. There has been no adjustment to the Agreement from its inception to the present time nor intention to make future adjustment by the Company and Shaanxi Steel. | Longmen Joint Venture pays Shaanxi Steel for the use of the constructed iron and steel making facilities an amount equaling the depreciation expense on the equipment constructed by Shaanxi Steel as well as 40% of the pre-tax profit generated by the Asset Pool. The remaining 60% of the pre-tax profit is allocated to Longmen Joint Venture. As a result, the Company’s economic interest in the profit generated by Longmen Joint Venture decreased from 60% to 36%. However, the overall capacity under the management of Longmen Joint Venture has increased by three million tons, or 75%. The Agreement is also expected to improve Longmen Joint Venture’s cost structure through sustainable and steady sourcing of key raw materials and reduced transportation costs. The distribution of profit is subject to a prospective adjustment after the first two years based on each entity’s actual investment of time and resources into the Asset Pool. There has been no adjustment to the Agreement from its inception to the present time nor intention to make future adjustment by the Company and Shaanxi Steel. | |
The parties to the Agreement have agreed to establish the Shaanxi Longmen Iron and Steel Unified Management Supervisory Committee ("Supervisory Committee") to ensure that the facilities and related resources are being operated and managed according to the stipulations set forth in the Agreement. However, the Board of Directors of Longmen Joint Venture, of which the Company holds 4 out of 7 seats, requires a simple majority vote. Therefore, the Board of Directors of Longmen Joint Venture remains the controlling decision-making body of Longmen Joint Venture and the Asset Pool. See Note 3(c) “Consolidation of VIE.” | The parties to the Agreement have agreed to establish the Shaanxi Longmen Iron and Steel Unified Management Supervisory Committee ("Supervisory Committee") to ensure that the facilities and related resources are being operated and managed according to the stipulations set forth in the Agreement. However, the Board of Directors of Longmen Joint Venture, of which the Company holds 4 out of 7 seats, requires a simple majority vote. Therefore, the Board of Directors of Longmen Joint Venture remains the controlling decision-making body of Longmen Joint Venture and the Asset Pool. See Note 3(c) “Consolidation of VIE.” | |
The Agreement constitutes an arrangement that involves a lease which met certain of the criteria of a capital lease and therefore, the lease is accounted for as such by Longmen Joint Venture as a capital lease. See Notes 3 “Summary of significant accounting policies”, 16 “Capital lease obligations” and 17 “Profit sharing liability”. | The Agreement constitutes an arrangement that involves a lease which met certain of the criteria of a capital lease and therefore, the lease is accounted for as such by Longmen Joint Venture as a capital lease. See Notes 3 “Summary of significant accounting policies”, 16 “Capital lease obligations” and 17 “Profit sharing liability”. | |
Restatement
Restatement | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2013 | |||||||||||||||||||||
Restatement of Prior Year Income [Abstract] | ' | ' | ||||||||||||||||||||
Restatement of Prior Year Income [Text Block] | ' | ' | ||||||||||||||||||||
Note 2- Restatement | Note 2 - Restatement | |||||||||||||||||||||
These condensed financial statements contain restatements related to the classification, display and disclosure of the profit sharing liability (which is accounted for at fair value as a derivative instrument liability), which the Company concluded to be incomplete and inconsistent after communications with the Staff of the United States Securities and Exchange Commission following the Staff’s review of certain of the Company’s prior quarterly and annual reports and based on subsequent communications between the Staff of the Commission and the Company. The restatements do not impact the Company’s previously reported condensed consolidated balance sheets, nor do the restatements result in adjustment of reported net income/loss in the Company’s condensed consolidated statements of operations and comprehensive income (loss) or adjustment of reported cash flows in the Company’s condensed consolidated statements of cash flows for any period presented. | These financial statements contain restatements related to the classification, display and disclosure of the profit sharing liability (which is accounted for at fair value as a derivative instrument liability), which the Company concluded to be incomplete and inconsistent after communications with the Staff of the United States Securities and Exchange Commission following the Staff’s review certain of the Company’s prior annual reports and based on subsequent communications between the Staff and the Company. The restatements do not impact the Company’s previously reported consolidated balance sheets, or consolidated statements of changes in deficiency, nor do the restatements result in adjustment of reported net income/loss in the Company’s consolidated statements of operations and comprehensive income (loss) or adjustment of reported cash flows in the Company’s consolidated statements of cash flows for any period presented. | |||||||||||||||||||||
The impact of these restatements on the previously issued financial statements is reflected in the following table: | The impact of these restatements on the previously issued financial statements is reflected in the following table: | |||||||||||||||||||||
For the three months ended September 30, 2013 | For the year ended December 31, 2012 | |||||||||||||||||||||
Consolidated Statements of Operations | Original | Restatement | Restated | Consolidated Statements of Operations | Original | Restatement | Restated | |||||||||||||||
Change in fair value of profit sharing liability | $ | 41,825 | $ | -2,661 | $ | 39,164 | Change in fair value of profit sharing liability | $ | - | $ | -22,499 | $ | -22,499 | |||||||||
Income from operations | 30,395 | -2,661 | 27,734 | Loss from operations | -72,958 | -22,499 | -95,457 | |||||||||||||||
Finance/interest expense | -25,503 | 2,661 | -22,842 | Finance/interest expense | -176,242 | 22,499 | -153,743 | |||||||||||||||
Other expense, net | -20,970 | 2,661 | -18,309 | Other expense, net | -158,184 | 22,499 | -135,685 | |||||||||||||||
For the nine months ended September 30, 2013 | For the year ended December 31, 2012 | |||||||||||||||||||||
Consolidated Statements of Operations | Original | Restatement | Restated | Consolidated Statements of Cash Flows | Original | Restatement | Restated | |||||||||||||||
Change in fair value of profit sharing liability | $ | 107,877 | $ | -12,440 | $ | 95,437 | Amortization of deferred financing cost on capital lease | $ | 43,122 | $ | -22,499 | $ | 20,623 | |||||||||
Income from operations | 25,175 | -12,440 | 12,735 | Change in fair value of profit sharing liability | - | 22,499 | 22,499 | |||||||||||||||
Finance/interest expense | -81,355 | 12,440 | -68,915 | |||||||||||||||||||
Other expense, net | -68,827 | 12,440 | -56,387 | |||||||||||||||||||
For the year ended December 31, 2011 | ||||||||||||||||||||||
For the nine months ended September 30, 2013 | Consolidated Statements of Operations | Original | Restatement | Restated | ||||||||||||||||||
Consolidated Statements of Cash Flows | Original | Restatement | Restated | Change in fair value of profit sharing liability | $ | - | $ | -14,047 | $ | -14,047 | ||||||||||||
Amortization of deferred financing cost on capital lease | $ | 27,778 | $ | -12,440 | $ | 15,338 | Loss from operations | -180,041 | -14,047 | -194,088 | ||||||||||||
Change in fair value of profit sharing liability | -107,877 | 12,440 | -95,437 | Finance/interest expense | -114,949 | 14,047 | -100,902 | |||||||||||||||
Other expense, net | -87,664 | 14,047 | -73,617 | |||||||||||||||||||
For the three months ended June 30, 2013 | ||||||||||||||||||||||
Consolidated Statements of Operations | Original | Restatement | Restated | For the year ended December 31, 2011 | ||||||||||||||||||
Change in fair value of profit sharing liability | $ | 14,160 | $ | -4,666 | $ | 9,494 | Consolidated Statements of Cash Flows | Original | Restatement | Restated | ||||||||||||
Loss from operations | -42,224 | -4,666 | -46,890 | Amortization of deferred financing cost on capital lease | $ | 27,704 | $ | -14,047 | $ | 13,657 | ||||||||||||
Finance/interest expense | -25,882 | 4,666 | -21,216 | Change in fair value of profit sharing liability | - | 14,047 | 14,047 | |||||||||||||||
Other expense, net | -21,444 | 4,666 | -16,778 | |||||||||||||||||||
In addition, the Company revised and enhanced the disclosure in Note 3(c) – Consolidation of VIE, Note 3(i) – Financial instruments, Note 17 – Profit Sharing Liability, and Note 26 – Segments to reflect the classification of the profit sharing liability and to provide a more complete display and disclosure of the profit sharing liability which is accounted for at fair value as a derivative instrument liability. | ||||||||||||||||||||||
For the six months ended June 30, 2013 | ||||||||||||||||||||||
Consolidated Statements of Operations | Original | Restatement | Restated | |||||||||||||||||||
Change in fair value of profit sharing liability | $ | 66,052 | $ | -9,779 | $ | 56,273 | ||||||||||||||||
Loss from operations | -5,220 | -9,779 | -14,999 | |||||||||||||||||||
Finance/interest expense | -55,852 | 9,779 | -46,073 | |||||||||||||||||||
Other expense, net | -47,857 | 9,779 | -38,078 | |||||||||||||||||||
For the six months ended June 30, 2013 | ||||||||||||||||||||||
Consolidated Statements of Cash Flows | Original | Restatement | Restated | |||||||||||||||||||
Amortization of deferred financing cost on capital lease | $ | 19,996 | $ | -9,779 | $ | 10,217 | ||||||||||||||||
Change in fair value of profit sharing liability | -66,052 | 9,779 | -56,273 | |||||||||||||||||||
For the three months ended March 31, 2013 | ||||||||||||||||||||||
Consolidated Statements of Operations | Original | Restatement | Restated | |||||||||||||||||||
Change in fair value of profit sharing liability | $ | 51,892 | $ | -5,113 | $ | 46,779 | ||||||||||||||||
Income from operations | 37,004 | -5,113 | 31,891 | |||||||||||||||||||
Finance/interest expense | -29,970 | 5,113 | -24,857 | |||||||||||||||||||
Other expense, net | -26,413 | 5,113 | -21,300 | |||||||||||||||||||
For the three months ended March 31, 2013 | ||||||||||||||||||||||
Consolidated Statements of Cash Flows | Original | Restatement | Restated | |||||||||||||||||||
Amortization of deferred financing cost on capital lease | $ | 10,208 | $ | -5,113 | $ | 5,095 | ||||||||||||||||
Change in fair value of profit sharing liability | -51,892 | 5,113 | -46,779 | |||||||||||||||||||
For the three months ended September 30, 2012 | ||||||||||||||||||||||
Consolidated Statements of Operations | Original | Restatement | Restated | |||||||||||||||||||
Change in fair value of profit sharing liability | $ | - | $ | -5,611 | $ | -5,611 | ||||||||||||||||
Loss from operations | -36,383 | -5,611 | -41,994 | |||||||||||||||||||
Finance/interest expense | -36,615 | 5,611 | -31,004 | |||||||||||||||||||
Other expense, net | -29,735 | 5,611 | -24,124 | |||||||||||||||||||
For the nine months ended September 30, 2012 | ||||||||||||||||||||||
Consolidated Statements of Operations | Original | Restatement | Restated | |||||||||||||||||||
Change in fair value of profit sharing liability | $ | - | $ | -16,861 | $ | -16,861 | ||||||||||||||||
Loss from operations | -41,470 | -16,861 | -58,331 | |||||||||||||||||||
Finance/interest expense | -138,929 | 16,861 | -122,068 | |||||||||||||||||||
Other expense, net | -121,946 | 16,861 | -105,085 | |||||||||||||||||||
For the nine months ended September 30, 2012 | ||||||||||||||||||||||
Consolidated Statements of Cash Flows | Original | Restatement | Restated | |||||||||||||||||||
Amortization of deferred financing cost on capital lease | $ | 32,363 | $ | -16,861 | $ | 15,502 | ||||||||||||||||
Change in fair value of profit sharing liability | - | 16,861 | 16,861 | |||||||||||||||||||
For the three months ended June 30, 2012 | ||||||||||||||||||||||
Consolidated Statements of Operations | Original | Restatement | Restated | |||||||||||||||||||
Change in fair value of profit sharing liability | $ | - | $ | -5,620 | $ | -5,620 | ||||||||||||||||
Income from operations | 7,912 | -5,620 | 2,292 | |||||||||||||||||||
Finance/interest expense | -53,948 | 5,620 | -48,328 | |||||||||||||||||||
Other expense, net | -49,998 | 5,620 | -44,378 | |||||||||||||||||||
For the six months ended June 30, 2012 | ||||||||||||||||||||||
Consolidated Statements of Operations | Original | Restatement | Restated | |||||||||||||||||||
Change in fair value of profit sharing liability | $ | - | $ | -11,250 | $ | -11,250 | ||||||||||||||||
Loss from operations | -5,087 | -11,250 | -16,337 | |||||||||||||||||||
Finance/interest expense | -102,314 | 11,250 | -91,064 | |||||||||||||||||||
Other expense, net | -92,211 | 11,250 | -80,961 | |||||||||||||||||||
For the six months ended June 30, 2012 | ||||||||||||||||||||||
Consolidated Statements of Cash Flows | Original | Restatement | Restated | |||||||||||||||||||
Amortization of deferred financing cost on capital lease | $ | 21,627 | $ | -11,250 | $ | 10,377 | ||||||||||||||||
Change in fair value of profit sharing liability | - | 11,250 | 11,250 | |||||||||||||||||||
For the three months ended March 31, 2012 | ||||||||||||||||||||||
Consolidated Statements of Operations | Original | Restatement | Restated | |||||||||||||||||||
Change in fair value of profit sharing liability | $ | - | $ | -5,630 | $ | -5,630 | ||||||||||||||||
Loss from operations | -12,999 | -5,630 | -18,629 | |||||||||||||||||||
Finance/interest expense | -48,366 | 5,630 | -42,736 | |||||||||||||||||||
Other expense, net | -42,213 | 5,630 | -36,583 | |||||||||||||||||||
For the three months ended March 31, 2012 | ||||||||||||||||||||||
Consolidated Statements of Cash Flows | Original | Restatement | Restated | |||||||||||||||||||
Amortization of deferred financing cost on capital lease | $ | 10,839 | $ | -5,630 | $ | 5,209 | ||||||||||||||||
Change in fair value of profit sharing liability | - | 5,630 | 5,630 | |||||||||||||||||||
For the three months ended September 30, 2011 | ||||||||||||||||||||||
Consolidated Statements of Operations | Original | Restatement | Restated | |||||||||||||||||||
Change in fair value of profit sharing liability | $ | - | $ | -5,407 | $ | -5,407 | ||||||||||||||||
Income from operations | 9,741 | -5,407 | 4,334 | |||||||||||||||||||
Finance/interest expense | -35,081 | 5,407 | -29,674 | |||||||||||||||||||
Other expense, net | -31,517 | 5,407 | -26,110 | |||||||||||||||||||
For the nine months ended September 30, 2011 | ||||||||||||||||||||||
Consolidated Statements of Operations | Original | Restatement | Restated | |||||||||||||||||||
Change in fair value of profit sharing liability | $ | - | $ | -8,743 | $ | -8,743 | ||||||||||||||||
Loss from operations | -3,404 | -8,743 | -12,147 | |||||||||||||||||||
Finance/interest expense | -72,317 | 8,743 | -63,574 | |||||||||||||||||||
Other expense, net | -52,089 | 8,743 | -43,346 | |||||||||||||||||||
For the nine months ended September 30, 2011 | ||||||||||||||||||||||
Consolidated Statements of Cash Flows | Original | Restatement | Restated | |||||||||||||||||||
Amortization of deferred financing cost on capital lease | $ | 17,282 | $ | -8,743 | $ | 8,539 | ||||||||||||||||
Change in fair value of profit sharing liability | - | 8,743 | 8,743 | |||||||||||||||||||
For the three months ended June 30, 2011 | ||||||||||||||||||||||
Consolidated Statements of Operations | Original | Restatement | Restated | |||||||||||||||||||
Change in fair value of profit sharing liability | $ | - | $ | -3,336 | $ | -3,336 | ||||||||||||||||
Loss from operations | -3,693 | -3,336 | -7,029 | |||||||||||||||||||
Finance/interest expense | -23,117 | 3,336 | -19,781 | |||||||||||||||||||
Other expense, net | -13,702 | 3,336 | -10,366 | |||||||||||||||||||
For the six months ended June 30, 2011 | ||||||||||||||||||||||
Consolidated Statements of Operations | Original | Restatement | Restated | |||||||||||||||||||
Change in fair value of profit sharing liability | $ | - | $ | -3,336 | $ | -3,336 | ||||||||||||||||
Loss from operations | -13,145 | -3,336 | -16,481 | |||||||||||||||||||
Finance/interest expense | -37,236 | 3,336 | -33,900 | |||||||||||||||||||
Other expense, net | -20,572 | 3,336 | -17,236 | |||||||||||||||||||
For the six months ended June 30, 2011 | ||||||||||||||||||||||
Consolidated Statements of Cash Flows | Original | Restatement | Restated | |||||||||||||||||||
Amortization of deferred financing cost on capital lease | $ | 6,698 | $ | -3,336 | $ | 3,362 | ||||||||||||||||
Change in fair value of profit sharing liability | - | 3,336 | 3,336 | |||||||||||||||||||
In addition, the Company revised and enhanced the disclosure in Note 3(c) – Consolidation of VIE, Note 3(h) – Financial instruments, Note 16 – Capital Lease Obligations, Note 17 – Profit Sharing Liability, and Note 26 – Segments to reflect the classification of the profit sharing liability and to provide a more complete display and disclosure of the profit sharing liability which is accounted for at fair value as a derivative instrument liability. | ||||||||||||||||||||||
Summary_of_significant_account
Summary of significant accounting policies | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||
Accounting Policies [Abstract] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||
Significant Accounting Policies [Text Block] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||
Note 3 – Summary of significant accounting policies (restated – sections 3(c) and 3(h) only) | Note 3 – Summary of significant accounting policies (restated – sections 3(c) and 3(i) only) | |||||||||||||||||||||||||||||||||||||||||||||
The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information pursuant to the rules and regulations of the Securities Exchange Commission (“SEC”). The financial statements include the accounts of all directly, indirectly owned subsidiaries and the variable interest entity listed below. All material intercompany transactions and balances have been eliminated in consolidation. In the opinion of management, all adjustments, consisting of normal recurring adjustments, considered necessary to give a fair statement have been included. Interim results are not necessarily indicative of results for a full year. The information included in this Form 10-Q should be read in conjunction with information included in the 2013 annual report filed on Form 10-K filed on March 27, 2014. | The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for information pursuant to the rules and regulations of the Securities Exchange Commission (“SEC”). The financial statements include the accounts of all directly, indirectly owned subsidiaries and the variable interest entity listed below. All material intercompany transactions and balances have been eliminated in consolidation. | |||||||||||||||||||||||||||||||||||||||||||||
(a) | Basis of presentation | (a) | Basis of presentation | |||||||||||||||||||||||||||||||||||||||||||
The unaudited condensed consolidated financial statements of the Company reflect the activities of the following major directly owned subsidiaries: | The consolidated financial statements of the Company reflect the activities of the following major directly owned subsidiaries: | |||||||||||||||||||||||||||||||||||||||||||||
Subsidiary | Percentage | Percentage | ||||||||||||||||||||||||||||||||||||||||||||
of Ownership | Subsidiary | of Ownership | ||||||||||||||||||||||||||||||||||||||||||||
General Steel Investment Co., Ltd. | British Virgin Islands | 100 | % | General Steel Investment Co., Ltd. | British Virgin Islands | 100 | % | |||||||||||||||||||||||||||||||||||||||
General Steel (China) Co., Ltd. (“General Steel (China)”) | PRC | 100 | % | General Steel (China) Co., Ltd. (“General Steel (China)”) | PRC | 100 | % | |||||||||||||||||||||||||||||||||||||||
Baotou Steel – General Steel Special Steel Pipe Joint Venture Co., Ltd. | PRC | 80 | % | Baotou Steel – General Steel Special Steel Pipe Joint Venture Co., Ltd. | PRC | 80 | % | |||||||||||||||||||||||||||||||||||||||
Yangpu Shengtong Investment Co., Ltd. | PRC | 99.1 | % | Yangpu Shengtong Investment Co., Ltd. (“Yangpu Shengtong”) | PRC | 99.1 | % | |||||||||||||||||||||||||||||||||||||||
Tianjin Qiu Steel Investment Co., Ltd. (“Qiu Steel”) | PRC | 98.7 | % | Tianjin Qiu Steel Investment Co., Ltd. (“Qiu Steel”) | PRC | 98.7 | % | |||||||||||||||||||||||||||||||||||||||
Longmen Joint Venture | PRC | VIE/60.0 | % | Longmen Joint Venture | PRC | VIE/60.0 | % | |||||||||||||||||||||||||||||||||||||||
Maoming Hengda Steel Company, Ltd. (“Maoming Hengda”) | PRC | 99 | % | Maoming Hengda Steel Company, Ltd. (“Maoming Hengda”) | PRC | 99 | % | |||||||||||||||||||||||||||||||||||||||
Tianwu General Steel Material Trading Co., Ltd (“Tianwu Joint Venture”) | PRC | 60 | % | |||||||||||||||||||||||||||||||||||||||||||
Tianwu | ||||||||||||||||||||||||||||||||||||||||||||||
(b) | Principles of consolidation – subsidiaries | |||||||||||||||||||||||||||||||||||||||||||||
Prior to November 19, 2013, the Company held a 60.0% equity interest in Tianwu General Steel Material Trading Co., Ltd. (“Tianwu”). 32% interest was held by General Steel (China) and 28% interest was held by Yangpu Shengtong. On November 19, 2013, the Company sold its 28% equity interest of Tianwu held by Yangpu Shengtong to Tianjin Dazhan Industry Co., Ltd., a related party through indirect common ownership, for $13.6 million (RMB 84.3 million) while retaining 32% interest held by General Steel (China). Tianwu is in the process of registering the ownership change with the local State Administration for Industry and Commerce (“SAIC”) office. As a result of this transaction, the Company met the criteria under ASC 810-10-40-4 to deconsolidate Tianwu at disposal date and recognized a gain in accordance with ASC 810-10-40-5. See Note 18 – Other income (expense) under the section “Gain on deconsolidation of a subsidiary” for details. At the same time, General Steel (China)’s remaining 32% interest is accounted for as an investment in unconsolidated subsidiaries using the equity method. See Note 3(t) - Investments in unconsolidated entities for details. | ||||||||||||||||||||||||||||||||||||||||||||||
The accompanying unaudited condensed consolidated financial statements include the financial statements of the Company, its subsidiaries, its variable interest entity (“VIE”) for which the Company is the ultimate primary beneficiary, and the VIE’s subsidiaries. | ||||||||||||||||||||||||||||||||||||||||||||||
(b) | Principles of consolidation – subsidiaries | |||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries are those entities in which the Company, directly or indirectly, controls more than one half of the voting power; or has the power to govern the financial and operating policies, to appoint or remove the majority of the members of the board of directors, or to cast a majority of votes at the meeting of directors. | ||||||||||||||||||||||||||||||||||||||||||||||
The accompanying consolidated financial statements include the financial statements of the Company, its subsidiaries, its variable interest entity (“VIE”) for which the Company is the ultimate primary beneficiary, and the VIE’s subsidiaries. | ||||||||||||||||||||||||||||||||||||||||||||||
A VIE is an entity in which the Company, or its subsidiary, through contractual arrangements, bears the risks of, and enjoys the rewards normally associated with, ownership of the entity, and therefore the Company or its subsidiary is the primary beneficiary of the entity. | ||||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries are those entities in which the Company, directly or indirectly, controls more than one half of the voting power; or has the power to govern the financial and operating policies, to appoint or remove the majority of the members of the board of directors, or to cast a majority of votes at the meeting of directors. | ||||||||||||||||||||||||||||||||||||||||||||||
All significant inter-company transactions and balances have been eliminated upon consolidation. | ||||||||||||||||||||||||||||||||||||||||||||||
A VIE is an entity in which the Company, or its subsidiary, through contractual arrangements, bears the risks of, and enjoys the rewards normally associated with ownership of the entity, and therefore the Company or its subsidiary is the primary beneficiary of the entity. | ||||||||||||||||||||||||||||||||||||||||||||||
(c) | Consolidation of VIE (restated) | |||||||||||||||||||||||||||||||||||||||||||||
All significant inter-company transactions and balances have been eliminated upon consolidation. | ||||||||||||||||||||||||||||||||||||||||||||||
Prior to entering into the Unified Management Agreement on April 29, 2011, Longmen Joint Venture had been consolidated as the Company’s 60% direct owned subsidiary. Upon entering into the Unified Management Agreement on April 29, 2011, Longmen Joint Venture was re-evaluated by the Company to determine if Longmen Joint Venture is a VIE and if the Company is the primary beneficiary. | ||||||||||||||||||||||||||||||||||||||||||||||
(c) | Consolidation of VIE (restated) | |||||||||||||||||||||||||||||||||||||||||||||
Based on projected profits in this entity and future operating plans, Longmen Joint Venture ’s equity at risk is considered insufficient to finance its activities and therefore Longmen Joint Venture is considered to be a VIE. | ||||||||||||||||||||||||||||||||||||||||||||||
Prior to entering into the Unified Management Agreement on April 29, 2011, Longmen Joint Venture had been consolidated as the Company’s 60% direct owned subsidiary. Upon entering into the Unified Management Agreement on April 29, 2011, Longmen Joint Venture was re-evaluated by the Company to determine if Longmen Joint Venture is a VIE and if the Company is the primary beneficiary. | ||||||||||||||||||||||||||||||||||||||||||||||
The Company would be considered the primary beneficiary of the VIE if it has both of the following characteristics: | ||||||||||||||||||||||||||||||||||||||||||||||
Based on projected profits in this entity and future operating plans, Longmen Joint Venture ’s equity at risk is considered insufficient to finance its activities and therefore Longmen Joint Venture is considered to be a VIE. | ||||||||||||||||||||||||||||||||||||||||||||||
a. | The power to direct the activities of the VIE that most significantly impact the VIE’s economic performance; and | |||||||||||||||||||||||||||||||||||||||||||||
b. | The obligation to absorb losses of the VIE that could potentially be significant to the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE. | The Company would be considered the primary beneficiary of the VIE if it has both of the following characteristics: | ||||||||||||||||||||||||||||||||||||||||||||
A Supervisory Committee was formed during the negotiation of the Unified Management Agreement. Given there is both a Supervisory Committee and a Board with respect to Longmen Joint Venture , the powers (rights and roles) of both bodies were considered to determine which party has the power to direct the activities of Longmen Joint Venture , and by extension, whether the Company continues to have the power to direct Longmen Joint Venture ’s activities after this Supervisory Committee was formed and the significant investment in plant and equipment by owners of the Longmen Joint Venture partner. The Supervisory Committee, in which the Company holds 2 out of 4 seats, requires a ¾ majority vote, while the Board, which the Company holds 4 out of 7 seats, requires a simple majority vote. As the Supervisory Committee’s role is limited to supervising and monitoring management of Longmen Joint Venture and in the event there is any disagreement between the Board and the Supervisory Committee, the Board prevails, the Supervisory Committee is considered subordinate to the Board. Thus, the Board of Directors of Longmen Joint Venture continues to be the controlling decision-making body with respect to Longmen Joint Venture. The Company, which controls 60% of the voting rights of the Board of Directors, has control over the operations of Longmen Joint Venture and as such, has the power to direct the activities of the VIE that most significantly impact Longmen Joint Venture ’s economic performance. | a. | The power to direct the activities of the VIE that most significantly impact the VIE’s economic performance; and | ||||||||||||||||||||||||||||||||||||||||||||
b. | The obligation to absorb losses of the VIE that could potentially be significant to the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE. | |||||||||||||||||||||||||||||||||||||||||||||
In connection with the Unified Management Agreement, the Company, Shaanxi Coal and Shaanxi Steel may provide such support on a discretionary basis or as needed in the future. See Note 3 item (d) Liquidity. | ||||||||||||||||||||||||||||||||||||||||||||||
A Supervisory Committee was formed during the negotiation of the Unified Management Agreement. Given there is both a Supervisory Committee and a Board with respect to Longmen Joint Venture , the powers (rights and roles) of both bodies were considered to determine which party has the power to direct the activities of Longmen Joint Venture , and by extension, whether the Company continues to have the power to direct Longmen Joint Venture ’s activities after this Supervisory Committee was formed and the significant investment in plant and equipment by owners of the Longmen Joint Venture partner. The Supervisory Committee, in which the Company holds 2 out of 4 seats, requires a ¾ majority vote, while the Board, which the Company holds 4 out of 7 seats, requires a simple majority vote. As the Supervisory Committee’s role is limited to supervising and monitoring management of Longmen Joint Venture and in the event there is any disagreement between the Board and the Supervisory Committee, the Board prevails, the Supervisory Committee is considered subordinate to the Board. Thus, the Board of Directors of Longmen Joint Venture continues to be the controlling decision-making body with respect to Longmen Joint Venture. The Company, which controls 60% of the voting rights of the Board of Directors, has control over the operations of Longmen Joint Venture and as such, has the power to direct the activities of the VIE that most significantly impact Longmen Joint Venture ’s economic performance. | ||||||||||||||||||||||||||||||||||||||||||||||
The Company has the obligation to absorb losses and the rights to receive benefits based on the profit allocation as stipulated by the Unified Management Agreement that are significant to the VIE. As both conditions are met, the Company is the primary beneficiary of Longmen Joint Venture and therefore, continues to consolidate Longmen Joint Venture as a VIE. | ||||||||||||||||||||||||||||||||||||||||||||||
In connection with the Unified Management Agreement, the Company, Shaanxi Coal and Shaanxi Steel may provide such support on a discretionary basis or as needed in the future. See Note 3 item (d) Liquidity. | ||||||||||||||||||||||||||||||||||||||||||||||
The Company believes that the Unified Management Agreement between Longmen Joint Venture and Shaanxi Coal is in compliance with PRC law and is legally enforceable. The Board of Directors of Longmen Joint Venture continues to be the controlling decision-making body with respect to Longmen Joint Venture. The Company, which controls 60% of the voting rights of the Board of Directors, has control over the operations of Longmen Joint Venture and as such, has the power to direct the activities of the VIE. However, PRC law and/or uncertainties in the PRC legal system could limit the Company’s ability to enforce the Unified Management Agreement, which in turn, may lead to reconsideration of the VIE assessment and the potential for a different conclusion. If the Unified Management Agreement cannot be enforced, the Company would not consolidate Longmen Joint Venture as a VIE. However, the current PRC legal system has not limited the Company’s ability to enforce the Unified Management Agreement nor does the Company believe it is likely to do so in the future. The Company makes ongoing assessment to determine whether Longmen Joint Venture is a VIE. | ||||||||||||||||||||||||||||||||||||||||||||||
The Company has the obligation to absorb losses and the rights to receive benefits based on the profit allocation as stipulated by the Unified Management Agreement that are significant to the VIE. As both conditions are met, the Company is the primary beneficiary of Longmen Joint Venture and therefore, continues to consolidate Longmen Joint Venture as a VIE. | ||||||||||||||||||||||||||||||||||||||||||||||
The carrying amount of the VIE and its subsidiaries’ consolidated assets and liabilities are as follows: | ||||||||||||||||||||||||||||||||||||||||||||||
The Company believes that the Unified Management Agreement between Longmen Joint Venture and Shaanxi Coal is in compliance with PRC law and is legally enforceable. The Board of Directors of Longmen Joint Venture continues to be the controlling decision-making body with respect to Longmen Joint Venture. The Company, which controls 60% of the voting rights of the Board of Directors, has control over the operations of Longmen Joint Venture and as such, has the power to direct the activities of the VIE. However, PRC law and/or uncertainties in the PRC legal system could limit the Company’s ability to enforce the Unified Management Agreement, which in turn, may lead to reconsideration of the VIE assessment and the potential for a different conclusion. If the Unified Management Agreement cannot be enforced, the Company would not consolidate Longmen Joint Venture as a VIE. However, the current PRC legal system has not limited the Company’s ability to enforce the Unified Management Agreement nor does the Company believe it is likely to do so in the future. The Company makes ongoing assessment to determine whether Longmen Joint Venture is a VIE. | ||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2013 | June 30, 2013 | March 31, 2013 | December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | The carrying amount of the VIE and its subsidiaries’ consolidated assets and liabilities are as follows: | ||||||||||||||||||||||||||||||||||||||||||
Current assets | $ | 1,253,672 | $ | 1,129,402 | $ | 1,129,118 | $ | 1,285,967 | ||||||||||||||||||||||||||||||||||||||
Plant and equipment, net | 1,239,805 | 1,203,026 | 1,160,089 | 1,154,811 | December 31, 2013 | December 31, 2012 | December 31, 2011 | December 31, 2010 | ||||||||||||||||||||||||||||||||||||||
Other noncurrent assets | 44,475 | 39,291 | 80,424 | 72,428 | (in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||||||||
Total assets | 2,537,952 | 2,371,719 | 2,369,631 | 2,513,206 | Current assets | $ | 1,282,054 | $ | 1,285,967 | $ | 1,674,171 | $ | 1,087,108 | |||||||||||||||||||||||||||||||||
Total liabilities | -3,006,938 | -2,852,083 | -2,784,151 | -2,943,761 | Plant and equipment, net | 1,262,144 | 1,154,811 | 1,217,264 | 553,688 | |||||||||||||||||||||||||||||||||||||
Net liabilities | $ | -468,986 | $ | -480,364 | $ | -415,520 | $ | -430,555 | Other noncurrent assets | 29,014 | 72,428 | 45,836 | 54,099 | |||||||||||||||||||||||||||||||||
Total assets | 2,573,212 | 2,513,206 | 2,937,271 | 1,694,895 | ||||||||||||||||||||||||||||||||||||||||||
September 30, 2012 | June 30, 2012 | March 31, 2012 | December 31, 2011 | Total liabilities | -3,040,879 | -2,943,761 | -3,131,823 | -1,612,925 | ||||||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | Net liabilities | $ | -467,667 | $ | -430,555 | $ | -194,552 | $ | 81,970 | ||||||||||||||||||||||||||||||||||
Current assets | $ | 1,244,486 | $ | 1,409,756 | $ | 1,857,257 | $ | 1,674,171 | ||||||||||||||||||||||||||||||||||||||
Plant and equipment, net | 1,160,515 | 1,178,383 | 1,189,687 | 1,217,264 | VIE and its subsidiaries’ liabilities consist of the following: | |||||||||||||||||||||||||||||||||||||||||
Other noncurrent assets | 29,665 | 37,851 | 36,069 | 45,836 | ||||||||||||||||||||||||||||||||||||||||||
Total assets | 2,434,666 | 2,625,990 | 3,083,013 | 2,937,271 | December 31, | December 31, | December 31, | December 31, | ||||||||||||||||||||||||||||||||||||||
Total liabilities | -2,827,446 | -2,952,712 | -3,370,233 | -3,132,766 | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||||||||||||||||||||||
Net liabilities | $ | -392,780 | $ | -326,722 | $ | -287,220 | $ | -195,495 | (in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2011 | June 30, 2011 | December 31, 2010 | Short term notes payable | $ | 988,364 | $ | 971,117 | $ | 1,105,570 | $ | 447,992 | |||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | Accounts payable | 393,816 | 324,563 | 401,158 | 230,753 | |||||||||||||||||||||||||||||||||||||||
Current assets | $ | 1,508,221 | $ | 1,203,128 | $ | 1,087,108 | Accounts payable - related parties | 235,116 | 177,160 | 81,403 | 56,742 | |||||||||||||||||||||||||||||||||||
Plant and equipment, net | 1,172,982 | 1,150,732 | 553,688 | Short term loans - bank | 267,688 | 114,935 | 209,234 | 260,977 | ||||||||||||||||||||||||||||||||||||||
Other noncurrent assets | 42,995 | 44,641 | 54,099 | Short term loans - others | 55,844 | 141,290 | 240,684 | 113,328 | ||||||||||||||||||||||||||||||||||||||
Total assets | 2,724,198 | 2,398,501 | 1,694,895 | Short term loans - related parties | 125,236 | 35,839 | 15,710 | 14,548 | ||||||||||||||||||||||||||||||||||||||
Total liabilities | -2,720,490 | -2,369,035 | -1,612,925 | Current maturities of long-term loans – related party | 56,614 | 54,885 | - | - | ||||||||||||||||||||||||||||||||||||||
Net liabilities | $ | 3,708 | $ | 29,466 | $ | 81,970 | Other payables and accrued liabilities | 37,028 | 29,769 | 31,249 | 27,932 | |||||||||||||||||||||||||||||||||||
Other payables - related parties | 88,914 | 64,941 | 20,677 | 2,132 | ||||||||||||||||||||||||||||||||||||||||||
VIE and its subsidiaries’ liabilities consist of the following: | Customer deposits | 87,661 | 109,120 | 84,767 | 129,832 | |||||||||||||||||||||||||||||||||||||||||
Customer deposits - related parties | 18,359 | 21,998 | 66,932 | 53,624 | ||||||||||||||||||||||||||||||||||||||||||
September 30, 2013 | June 30, 2013 | March 31, 2013 | December 31, 2012 | Deposit due to sales representatives | 24,343 | 33,870 | 22,890 | 52,079 | ||||||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | Deposit due to sales representatives – related parties | 1,997 | 1,238 | - | - | ||||||||||||||||||||||||||||||||||||||
Current liabilities: | Taxes payable | 3,357 | 15,339 | 5,386 | 5,159 | |||||||||||||||||||||||||||||||||||||||||
Short term notes payable | $ | 950,498 | $ | 792,234 | $ | 785,296 | $ | 971,117 | Deferred lease income | 2,187 | 2,120 | 2,099 | 1,971 | |||||||||||||||||||||||||||||||||
Accounts payable | 466,631 | 395,962 | 386,434 | 324,563 | Capital lease obligations, current | 4,321 | - | 25,607 | - | |||||||||||||||||||||||||||||||||||||
Accounts payable - related parties | 171,759 | 171,806 | 154,146 | 177,160 | Intercompany payable to be eliminated | 21,420 | 30,476 | 66,021 | 69,216 | |||||||||||||||||||||||||||||||||||||
Short term loans - bank | 215,955 | 174,252 | 84,753 | 114,935 | Total current liabilities | 2,412,265 | 2,128,660 | 2,379,387 | 1,466,285 | |||||||||||||||||||||||||||||||||||||
Short term loans - others | 123,974 | 145,086 | 141,956 | 141,290 | Non-current liabilities: | |||||||||||||||||||||||||||||||||||||||||
Short term loans - related parties | 42,613 | 68,879 | 97,766 | 35,839 | Long term loans - related parties | 16,043 | 38,088 | 92,035 | 91,020 | |||||||||||||||||||||||||||||||||||||
Current maturities of long-term loans – related party | 56,372 | 56,026 | 55,196 | 54,885 | Long-term other payable – related party | - | 43,008 | - | - | |||||||||||||||||||||||||||||||||||||
Other payables and accrued liabilities | 43,978 | 41,372 | 38,490 | 29,769 | Deferred lease income - noncurrent | 75,257 | 75,079 | 76,425 | 55,620 | |||||||||||||||||||||||||||||||||||||
Other payables - related parties | 96,901 | 91,623 | 67,261 | 64,941 | Capital lease obligations, noncurrent | 375,019 | 330,099 | 280,743 | - | |||||||||||||||||||||||||||||||||||||
Customer deposits | 94,767 | 121,736 | 104,328 | 109,120 | Profit sharing liability at fair value | 162,295 | 328,827 | 303,233 | - | |||||||||||||||||||||||||||||||||||||
Customer deposits - related parties | 14,512 | 7,798 | 12,649 | 21,998 | Total non-current liabilities | 628,614 | 815,101 | 752,436 | 146,640 | |||||||||||||||||||||||||||||||||||||
Deposit due to sales representatives | 28,184 | 30,800 | 40,484 | 33,870 | Total liabilities of consolidated VIE | $ | 3,040,879 | $ | 2,943,761 | $ | 3,131,823 | $ | 1,612,925 | |||||||||||||||||||||||||||||||||
Deposit due to sales representatives – related parties | 1,809 | 1,798 | 1,772 | 1,238 | ||||||||||||||||||||||||||||||||||||||||||
Taxes payable | 8,258 | 9,050 | 11,106 | 15,339 | For the year ended | For the year ended | For the year ended | For the year ended | ||||||||||||||||||||||||||||||||||||||
Deferred lease income | 2,178 | 2,164 | 2,132 | 2,120 | December 31, 2013 | December 31, 2012 | December 31, 2011 | December 31, 2010 | ||||||||||||||||||||||||||||||||||||||
Intercompany payable to be eliminated | - | 17,320 | 21,576 | 30,476 | (in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||||||||
Total current liabilities | 2,318,416 | 2,127,906 | 2,005,345 | 2,128,660 | Sales | $ | 2,450,256 | $ | 2,837,608 | $ | 3,496,551 | $ | 1,846,080 | |||||||||||||||||||||||||||||||||
Non-current liabilities: | Gross (loss) profit | $ | -56,065 | $ | 29,512 | $ | -86,308 | $ | 32,751 | |||||||||||||||||||||||||||||||||||||
Long term loans - related parties | 15,974 | 21,148 | 38,304 | 38,088 | Income (loss) from operations | $ | 45,161 | $ | -68,081 | $ | -175,104 | $ | -8,073 | |||||||||||||||||||||||||||||||||
Long-term other payable – related party | - | - | 43,252 | 43,008 | Net loss attributable to controlling interest | $ | -16,457 | $ | -114,936 | $ | -161,897 | $ | -32,668 | |||||||||||||||||||||||||||||||||
Deferred lease income | 75,480 | 75,558 | 74,971 | 75,079 | ||||||||||||||||||||||||||||||||||||||||||
Capital lease obligations, noncurrent | 354,576 | 347,290 | 337,075 | 330,099 | Longmen Joint Venture has two 100% owned subsidiaries, Yuxin Trading Co., Ltd. (“Yuxin”) and Yuteng Trading Co., Ltd. (“Yuteng”). Prior to March 1, 2012, Longmen Joint Venture had three consolidated subsidiaries, Hualong Fire Retardant Material Co., Ltd. (“Hualong”), Hancheng Tongxing Metallurgy Co., Ltd. (“Tongxing”) and Beijing Huatianyulong International Steel Trading Co., Ltd. (“Huatianyulong”), in which Longmen Joint Venture did not hold a controlling equity interest. On March 1, 2012, Longmen Joint Venture sold its equity interest in Tongxing, and, as of March 31, 2012, Longmen Joint Venture has two consolidated subsidiaries, Hualong and Huatianyulong, in which it does not hold a controlling interest. Hualong and Huatianyulong are separate legal entities which were established in the PRC as limited liability companies and subsequently invested in by Longmen Joint Venture in June 2007 and July 2008, respectively. However, these two entities do not meet the definition of variable interest entities. Further consideration was given to whether consolidation was appropriate under the voting interest model, specifically where the power of control may exist with a lesser percentage of ownership (i.e. less than 50%), for example, by contract, lease, agreement with other stockholders or by court decree. | |||||||||||||||||||||||||||||||||||||||||
Profit sharing liability at fair value | 241,090 | 278,788 | 283,831 | 328,827 | ||||||||||||||||||||||||||||||||||||||||||
Other noncurrent liabilities | 1,402 | 1,393 | 1,373 | - | Hualong | |||||||||||||||||||||||||||||||||||||||||
Total non-current liabilities | 688,522 | 724,177 | 778,806 | 815,101 | ||||||||||||||||||||||||||||||||||||||||||
Total liabilities of consolidated VIE | $ | 3,006,938 | $ | 2,852,083 | $ | 2,784,151 | $ | 2,943,761 | Longmen Joint Venture, the single largest shareholder, holds a 36.0% equity interest in Hualong. The other two shareholders, who own 34.67% and 29.33% respectively, assigned their voting rights to Longmen Joint Venture in writing at the time of the acquisition of Hualong. The voting rights have been assigned through the date Hualong ceases its business operations or the other two shareholders sell their interest in Hualong. Hualong’s main business is to supply refractory. The assets, liabilities and the operating results of Hualong are immaterial to the Company’s consolidated financial statements as for and during the years ended December 31, 2013, 2012, 2011 and 2010. | |||||||||||||||||||||||||||||||||||||
Tongxing | ||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||
June 30, 2012 | March 31, 2012 | December 31, 2011 | Prior to March 1, 2012, Longmen Joint Venture held a 22.76% equity interest in Tongxing while hundreds of employees of Longmen Joint Venture owned the remaining 77.24%. Each individual employee shareholder comprising the remaining 77.24% assigned its voting rights to Longmen Joint Venture in writing at the time of the acquisition of Tongxing. The voting rights assigned were effective until Tongxing ceased its business operations or Longmen Joint Venture liquidated its equity interest of Tongxing, whichever came first. | |||||||||||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||||||||||||||||||||||||
Current liabilities: | On March 1, 2012, Longmen Joint Venture sold its 22.76% equity interest of Tongxing to two individuals, who are the representatives from Long Steel Group. As of March 1, 2012, Tongxing had a carrying value of net assets of $40.5 million which were included in the consolidated net assets of the Company and a noncontrolling interest in Tongxing of $32.5 million. The Company retained the land use right associated with the Tongxing property adjacent to the Longmen Joint Venture facility, which had a carrying value of $3.6 million immediately prior to the transaction and relinquished its controlling interest in the remaining net assets (primarily operating assets). In connection with the transaction, the Company also settled with a payable in cash of $0.3 million and transferred the dividend receivable of $0.9 million from Tongxing to the two individuals. These arrangements meet the criteria of ASC 810-10-40-6b and 6d, deconsolidation of a Subsidiary with multiple arrangements treated as a single transaction. As the land use rights held in Tongxing have been included as part of the Company’s consolidated assets, this transaction was considered as a change in the Company’s ownership interest in the land use right similar to a change in a parent company’s ownership interest in a subsidiary in accordance with ASC 810-10-45-23 and therefore the carrying value of the land use right was not stepped up to fair value. The net impact of these transactions resulted in a reduction of $3.1 million paid-in capital on March 1, 2012. | |||||||||||||||||||||||||||||||||||||||||||||
Short term notes payable | $ | 855,105 | $ | 897,982 | $ | 1,227,564 | $ | 1,105,570 | ||||||||||||||||||||||||||||||||||||||
Accounts payable | 296,300 | 353,215 | 253,936 | 401,158 | ||||||||||||||||||||||||||||||||||||||||||
Accounts payable - related parties | 117,601 | 116,479 | 156,738 | 81,403 | Huatianyulong | |||||||||||||||||||||||||||||||||||||||||
Short term loans - bank | 102,895 | 160,162 | 277,136 | 209,234 | ||||||||||||||||||||||||||||||||||||||||||
Short term loans - others | 206,702 | 234,099 | 293,686 | 240,684 | Longmen Joint Venture holds a 50.0% equity interest in Huatianyulong and the other unrelated shareholder holds the remaining 50.0%. The other shareholder assigned its voting rights to Longmen Joint Venture in writing at the time of acquisition of Huatianyulong. The voting rights have been assigned through the date Huatianyulong ceases its business operation or the other unrelated shareholder sells its interest in Huatianyulong. Huatianyulong mainly sells imported iron ore. The assets, liabilities and the operating results of Huatianyulong are immaterial to the Company’s consolidated financial statements as for and during the years ended December 31, 2013, 2012, 2011 and 2010. | |||||||||||||||||||||||||||||||||||||||||
Short term loans - related parties | 45,506 | 15,892 | 31,682 | 15,710 | ||||||||||||||||||||||||||||||||||||||||||
Current maturities of long-term loans – related party | 49,997 | - | - | The Company has determined that it is appropriate for Longmen Joint Venture to consolidate Hualong and Huatianyulong with appropriate recognition in the Company’s financial statements of the non-controlling interests in each entity, beginning on the acquisition dates as these were also the effective dates of the agreements with other stockholders granting a majority voting rights in each entity, and thereby, the power of control, to Longmen Joint Venture. The Company also has determined that it is appropriate for Longmen Joint Venture to consolidate Tongxing’s net income from the beginning of the acquisition date to March 1, 2012, the date on which Longmen Joint Venture relinquished its equity interest and majority voting rights in Tongxing, and thereby its power of control of Tongxing. | ||||||||||||||||||||||||||||||||||||||||||
Other payables and accrued liabilities | 34,379 | 35,140 | 25,819 | 31,249 | ||||||||||||||||||||||||||||||||||||||||||
Other payables - related parties | 105,402 | 120,104 | 85,053 | 20,677 | (d) | Liquidity | ||||||||||||||||||||||||||||||||||||||||
Customer deposits | 80,219 | 88,172 | 75,495 | 84,767 | ||||||||||||||||||||||||||||||||||||||||||
Customer deposits - related parties | 83,233 | 39,134 | 49,483 | 66,932 | The Company’s accounts have been prepared in accordance with U.S. GAAP on a going concern basis. The going concern basis assumes that assets are realized and liabilities are extinguished in the ordinary course of business at amounts disclosed in the financial statements. The Company’s ability to continue as a going concern depends upon aligning its sources of funding (debt and equity) with the expenditure requirements of the Company and repayment of the short-term debt facilities as and when they fall due. | |||||||||||||||||||||||||||||||||||||||||
Deposit due to sales representatives | 34,987 | 30,602 | 33,534 | 22,890 | ||||||||||||||||||||||||||||||||||||||||||
Deposit due to sales representatives – related parties | 1,235 | 1,236 | 1,236 | 943 | The steel business is capital intensive and as a normal industry practice in PRC, the Company is highly leveraged. Debt financing in the form of short term bank loans, loans from related parties, financing sales, bank acceptance notes, and capital leases have been utilized to finance the working capital requirements and the capital expenditures of the Company. As a result, the Company’s debt to equity ratio as of December 31, 2013, 2012, 2011 and 2010 were (6.5), (7.1), (19.7) and 13.8, respectively. As of December 31, 2013, the Company’s current liabilities exceed current assets (excluding non-cash item) by $1.2 billion. | |||||||||||||||||||||||||||||||||||||||||
Taxes payable | 5,472 | 5,583 | 4,478 | 5,386 | ||||||||||||||||||||||||||||||||||||||||||
Deferred lease income - current | 2,115 | 2,117 | 2,116 | 2,099 | Longmen Joint Venture, as the most important entity of the Company, accounted for majority of total sales of the Company. As such, the majority of the Company’s working capital needs come from Longmen Joint Venture. The Company’s ability to continue as a going concern depends heavily on Longmen Joint Venture’s operations. Longmen Joint Venture has obtained different types of financial supports, which are listed below by category: | |||||||||||||||||||||||||||||||||||||||||
Intercompany payable to be eliminated | 41,582 | 47,276 | 57,518 | 66,021 | ||||||||||||||||||||||||||||||||||||||||||
Total current liabilities | 2,062,730 | 2,147,193 | 2,575,474 | 2,354,723 | Line of credit | |||||||||||||||||||||||||||||||||||||||||
Non-current liabilities: | ||||||||||||||||||||||||||||||||||||||||||||||
Long term loans - related parties | 42,741 | 92,856 | 92,797 | 92,035 | The Company received lines of credit from the listed major banks totaling $230.7 million with expiration dates ranging from March 23, 2015 to July 17, 2015. | |||||||||||||||||||||||||||||||||||||||||
Deferred lease income - noncurrent | 75,418 | 76,043 | 76,524 | 76,425 | ||||||||||||||||||||||||||||||||||||||||||
Capital lease obligations | 324,171 | 319,446 | 314,080 | 306,350 | Banks | Amount of | Repayment Date | |||||||||||||||||||||||||||||||||||||||
Profit sharing liability | 322,386 | 317,174 | 311,358 | 303,233 | Line of Credit | |||||||||||||||||||||||||||||||||||||||||
Total non-current liabilities | 764,716 | 805,519 | 794,759 | 778,043 | (in millions) | |||||||||||||||||||||||||||||||||||||||||
Total liabilities of consolidated VIE | $ | 2,827,446 | $ | 2,952,712 | $ | 3,370,233 | $ | 3,132,766 | Bank of Chongqing | 49.1 | 23-Mar-15 | |||||||||||||||||||||||||||||||||||
Industrial Bank Co., Ltd. | 49.1 | 5-May-15 | ||||||||||||||||||||||||||||||||||||||||||||
September 30, 2011 | June 30, 2011 | December 31, 2010 | China Merchant Bank | 49.1 | 19-May-15 | |||||||||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | China CITIC Bank | 32.7 | 16-Jun-15 | |||||||||||||||||||||||||||||||||||||||||
Current liabilities: | Bank of Communication | 18 | 17-Jul-15 | |||||||||||||||||||||||||||||||||||||||||||
Short term notes payable | $ | 548,671 | $ | 321,782 | $ | 447,992 | Bank of Jinzhou | 32.7 | 23-Mar-15 | |||||||||||||||||||||||||||||||||||||
Accounts payable | 339,163 | 292,834 | 230,753 | Total | $ | 230.7 | ||||||||||||||||||||||||||||||||||||||||
Accounts payable - related parties | 62,958 | 102,771 | 56,742 | |||||||||||||||||||||||||||||||||||||||||||
Short term loans - bank | 369,225 | 277,053 | 260,977 | As of the date of this report, the Company utilized $182.5 million of these lines of credit. | ||||||||||||||||||||||||||||||||||||||||||
Short term loans - others | 221,249 | 84,018 | 113,328 | |||||||||||||||||||||||||||||||||||||||||||
Short term loans - related parties | 15,650 | 15,637 | 14,548 | Vendor financing | ||||||||||||||||||||||||||||||||||||||||||
Other payables and accrued liabilities | 27,693 | 27,545 | 27,932 | |||||||||||||||||||||||||||||||||||||||||||
Other payables - related parties | 5,937 | 9,368 | 2,132 | Longmen Joint Venture signed additional vendor financing agreements, which will provide liquidity to the Company in a total amount of $818.5 million with the following companies: | ||||||||||||||||||||||||||||||||||||||||||
Customer deposits | 190,440 | 287,882 | 129,832 | |||||||||||||||||||||||||||||||||||||||||||
Customer deposits - related parties | 53,045 | 64,482 | 53,624 | Company | Financing period covered | Financing Amount | ||||||||||||||||||||||||||||||||||||||||
Deposit due to sales representatives | 21,488 | 23,660 | 52,079 | (in millions) | ||||||||||||||||||||||||||||||||||||||||||
Taxes payable | 10,604 | 11,188 | 5,159 | |||||||||||||||||||||||||||||||||||||||||||
Deferred lease income | 2,091 | 2,067 | 1,971 | Company A – related party | July 1, 2013 – June 30, 2015 | $ | 163.7 | |||||||||||||||||||||||||||||||||||||||
Capital lease obligations, current | 18,505 | 11,552 | - | Company B – third party | January 22, 2014 – January 22, 2017 | 163.7 | ||||||||||||||||||||||||||||||||||||||||
Intercompany payable to be eliminated | 71,485 | 58,582 | 69,216 | Company C – third party | October 1, 2013 – March 31, 2015 | 491.1 | ||||||||||||||||||||||||||||||||||||||||
Total current liabilities | 1,958,204 | 1,590,421 | 1,466,285 | Total | $ | 818.5 | ||||||||||||||||||||||||||||||||||||||||
Non-current liabilities: | ||||||||||||||||||||||||||||||||||||||||||||||
Long term loans - related parties | 107,695 | 134,566 | 91,020 | Company A, a related party company and Company B, a third party company, are both Longmen Joint Venture’s major coke suppliers. They have been doing business with Longmen Joint Venture for years. On January 6, 2013, Company A signed a two-year agreement with Longmen Joint Venture to finance its coke purchase up to $81.9 million. On July 1, 2013, Company A agreed to increase the financing amount to $163.7 million and extend the financing period to June 30, 2015. Company B Signed a two-year agreement with Longmen Joint Venture on November 7, 2013 to finance its coke purchase up to $163.7 million and agreed to extend the financing period for another three years effective on January 22, 2014. According to the above signed agreements, both Company A and B will not demand any cash payments during their respective financing periods. As of the date of this report, our payables to Company A and Company B were approximately $54.4 million and $51.8 million, respectively. | ||||||||||||||||||||||||||||||||||||||||||
Deferred lease income - noncurrent | 76,358 | 76,282 | 55,620 | |||||||||||||||||||||||||||||||||||||||||||
Capital lease obligations, noncurrent | 281,510 | 282,895 | - | Company C is a Fortune 500 Company. On June 28, 2013, Company C signed an agreement with Longmen Joint Venture to finance Longmen Joint Venture’s purchase of iron ore for an amount up to $491.1 million to commence on October 1, 2013 and end on March 31, 2015. Subject to the terms of the agreement, Longmen Joint Venture is subject to a penalty of 0.05% of the daily outstanding balance owed to Company C in an event of late payment. As of the date of this report, our payable to Company C is approximately $2.0 million. | ||||||||||||||||||||||||||||||||||||||||||
Profit sharing liability at fair value | 296,723 | 284,871 | - | |||||||||||||||||||||||||||||||||||||||||||
Total non-current liabilities | 762,286 | 778,614 | 146,640 | Other financing | ||||||||||||||||||||||||||||||||||||||||||
Total liabilities of consolidated VIE | $ | 2,720,490 | $ | 2,369,035 | $ | 1,612,925 | ||||||||||||||||||||||||||||||||||||||||
On February 20, 2014 and March 5, 2014, Longmen Joint Venture signed a payment extension agreement with each company listed below. In total, Longmen Joint Venture can get $217.7 million in financial support from two-year and three-year balancing payment extensions granted by the following five companies: | ||||||||||||||||||||||||||||||||||||||||||||||
VIE and its subsidiaries’ statements of operations are as follows: | ||||||||||||||||||||||||||||||||||||||||||||||
Company | Financing period covered | Financing Amount | ||||||||||||||||||||||||||||||||||||||||||||
Three months ended | Three months ended | (in millions) | ||||||||||||||||||||||||||||||||||||||||||||
September 30, 2013 | September 30, 2012 | |||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | Company D – related party | February 20, 2014 – February 20, 2017 | $ | 32.7 | |||||||||||||||||||||||||||||||||||||||||
Sales | $ | 606,444 | $ | 708,974 | Company E – related party | February 20, 2014 – February 20, 2017 | 37.7 | |||||||||||||||||||||||||||||||||||||||
Gross profit (loss) | $ | 8,122 | $ | -18,417 | Company F – related party | February 20, 2014 – February 20, 2017 | 32.7 | |||||||||||||||||||||||||||||||||||||||
Income (loss) from operations | $ | 30,306 | $ | -42,611 | Company G – related party | March 5, 2014 – March 5, 2016 | 57.3 | |||||||||||||||||||||||||||||||||||||||
Net income (loss) attributable to controlling interest | $ | 8,284 | $ | -39,494 | Company H – related party | March 5, 2014 – March 5, 2016 | 57.3 | |||||||||||||||||||||||||||||||||||||||
Total | $ | 217.7 | ||||||||||||||||||||||||||||||||||||||||||||
Three months ended | Three months ended | |||||||||||||||||||||||||||||||||||||||||||||
September 30, 2011 | September 30, 2010 | According to the contract terms, Company D, Company E, Company F, Company G and Company H have agreed to grant payment extensions in the amounts of $32.7 million, $37.7 million, $32.7 million, $57.3 million and $57.3 million respectively. As of the date of this report, our payables to Company D, Company E, Company F, Company G and Company H are approximately $16.4 million, $26.6 million, $17.1 million, $49.1 million and $49.9, respectively. | ||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | |||||||||||||||||||||||||||||||||||||||||||||
Sales | $ | 986,938 | $ | 455,028 | Amount due to sales representatives | |||||||||||||||||||||||||||||||||||||||||
Gross profit (loss) | $ | 29,400 | $ | 14,304 | ||||||||||||||||||||||||||||||||||||||||||
Income (loss) from operations | $ | 1,773 | $ | 6,734 | Longmen Joint Venture entered into agreements with various entities to act as the Company’s exclusive sales agents in specified geographic areas. These exclusive sales agents must meet certain criteria and are required to deposit a certain amount of money with the Company. In return, the sales agents receive exclusive sales rights in a specified area and discounted prices on products they order. These deposits bear no interest and are required to be returned to the sales agent once the agreement is terminated. As of December 31, 2013, Longmen Joint Venture has collected a total amount of $26.3 million. Historically, this amount is quite stable and we do not expect a big fluctuation in this amount for the next twelve months from December 31, 2013 onwards. | |||||||||||||||||||||||||||||||||||||||||
Net income (loss) attributable to controlling interest | $ | -14,766 | $ | -1,351 | ||||||||||||||||||||||||||||||||||||||||||
With the financial support from the banks and the companies above, management is of the opinion that the Company has sufficient funds to meet its future operations, working capital requirements and debt obligations until the end of December 31, 2014. The detailed breakdown of Longmen Joint Venture’s estimated cash flows items are listed below. | ||||||||||||||||||||||||||||||||||||||||||||||
Nine months ended | Nine months ended | |||||||||||||||||||||||||||||||||||||||||||||
September 30, 2013 | September 30, 2012 | Cash inflow (outflow) | ||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in millions) | ||||||||||||||||||||||||||||||||||||||||||||
Sales | $ | 1,903,933 | $ | 2,126,556 | For the twelve months | |||||||||||||||||||||||||||||||||||||||||
Gross profit (loss) | $ | -23,704 | $ | 12,628 | ended December 31, | |||||||||||||||||||||||||||||||||||||||||
Income (loss) from operations | $ | 20,558 | $ | -56,932 | 2014 | |||||||||||||||||||||||||||||||||||||||||
Net loss attributable to controlling interest | $ | -18,335 | $ | -92,974 | Current liabilities over current assets (excluding non-cash items) as of December 31, 2013 | $ | -1,179.20 | |||||||||||||||||||||||||||||||||||||||
Projected cash financing and outflows: | ||||||||||||||||||||||||||||||||||||||||||||||
Nine months ended | Nine months ended | Cash provided by line of credit from banks | 230.7 | |||||||||||||||||||||||||||||||||||||||||||
September 30, 2011 | September 30, 2010 | Cash provided by vendor financing | 818.5 | |||||||||||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | Cash provided by other financing | 217.7 | |||||||||||||||||||||||||||||||||||||||||||
Sales | $ | 2,752,918 | $ | 1,389,215 | Cash provided by sales representatives | 26.3 | ||||||||||||||||||||||||||||||||||||||||
Gross profit (loss) | $ | 56,215 | $ | 28,450 | Cash projected to be used in operations in the twelve months ended December 31, 2014 | -35.4 | ||||||||||||||||||||||||||||||||||||||||
Income (loss) from operations | $ | -5,599 | $ | 1,905 | Cash projected to be used for financing cost in the twelve months ended December 31, 2014 | -55.2 | ||||||||||||||||||||||||||||||||||||||||
Net loss attributable to controlling interest | $ | -44,654 | $ | -15,913 | Net projected change in cash for the twelve months ended December 31, 2014 | $ | 23.4 | |||||||||||||||||||||||||||||||||||||||
Three months ended | Three months ended | As a result, the consolidated financial statements for the year ended December 31, 2013 have been prepared on a going concern basis. | ||||||||||||||||||||||||||||||||||||||||||||
June 30, 2013 | June 30, 2012 | |||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (e) | Use of estimates | |||||||||||||||||||||||||||||||||||||||||||
Sales | $ | 650,741 | $ | 774,306 | ||||||||||||||||||||||||||||||||||||||||||
Gross profit (loss) | $ | -36,193 | $ | 25,770 | The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the accompanying consolidated financial statements and footnotes. Significant accounting estimates reflected in the Company’s consolidated financial statements include the fair value of the profit sharing liability, the useful lives of and impairment for property, plant and equipment, and potential losses on uncollectible receivables, allowance for inventory valuation, the interest rate used in the financing sales, the fair value of the assets recorded under capital lease and the present value of the net minimum lease payments of the capital lease. Actual results could differ from these estimates. | |||||||||||||||||||||||||||||||||||||||||
Income (loss) from operations | $ | -44,685 | $ | 2,903 | ||||||||||||||||||||||||||||||||||||||||||
Net loss attributable to controlling interest | $ | -34,944 | $ | -23,132 | (f) | Concentration of risks and uncertainties | ||||||||||||||||||||||||||||||||||||||||
Three months ended | Three months ended | The Company’s operations are carried out in the PRC. Accordingly, the Company’s business, financial condition and results of operations may be influenced by the political, economic and legal environment in the PRC, and by the general state of the PRC’s economy. The Company’s operations in the PRC are subject to specific considerations and significant risks not typically associated with companies in North America and Western Europe. The Company’s results may be adversely affected by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, currency conversion and remittance abroad, and rates and methods of taxation, among other things. | ||||||||||||||||||||||||||||||||||||||||||||
June 30, 2011 | June 30, 2010 | |||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | The Company has significant exposure to the fluctuation of raw materials and energy prices as part of its normal operations. As of December 31, 2013, 2012, 2011 and 2010, the Company does not have any open commodity contracts to mitigate such risks. | ||||||||||||||||||||||||||||||||||||||||||||
Sales | $ | 1,056,675 | $ | 499,361 | ||||||||||||||||||||||||||||||||||||||||||
Gross profit (loss) | $ | 22,300 | $ | 8,120 | Cash includes demand deposits in accounts maintained with banks within the PRC, Hong Kong and the United States. Total cash (including restricted cash balances) in these banks on December 31, 2013, 2012, 2011 and 2010 amounted to $431.3 million, $369.9 million, $518.2 million and $263.1 million, including $2.0 million, $2.3 million, $0 and $0 that were deposited in Shaanxi Coal and Chemical Industry Group Financial Co., Ltd., a related party, respectively. As of December 31, 2013, $0.1 million cash in the bank was covered by insurance. The Company has not experienced any losses in other bank accounts and believes it is not exposed to any risks on its cash in bank accounts. | |||||||||||||||||||||||||||||||||||||||||
Income (loss) from operations | $ | 138 | $ | -1,046 | ||||||||||||||||||||||||||||||||||||||||||
Net loss attributable to controlling interest | $ | -19,707 | $ | -7,472 | The Company’s five major customers are all distributors and collectively represented approximately 22.1%, 26.7%, 27.1% and 28.6% of the Company’s total sales for the years ended December 31, 2013, 2012, 2011 and 2010, respectively. None of the five major customers accounted for more than 10% of total sales for the year ended December 31, 2013, 2012, 2011 and 2010, respectively. These five major customers accounted for 0%, 47.8%, 27.2% and 0% of total accounts receivable, including related parties, as of December 31, 2013, 2012, 2011 and 2010, respectively. None of the five major customers accounted for more than 10% of total accounts receivable as of December 31, 2013. One of the five major customers accounted for more than 10% of total accounts receivable as of December 31, 2012, 2011 and 2010. | |||||||||||||||||||||||||||||||||||||||||
Six months ended | Six months ended | For the years ended December 31, 2013, 2012, 2011 and 2010, the Company purchased approximately 40.2%, 38.9%, 48.6% and 48.0% of its raw materials from five major suppliers, respectively. One of the five major suppliers individually accounted for more than 10% of the total purchases for the year ended December 31, 2013 and none of the five major suppliers individually accounted for more than 10% of the total purchases for the year ended December 31, 2012, 2011 and 2010. These five vendors accounted for 29.1%, 33.8%, 16.9%, and 28.3% of total accounts payable, including related parties, as of December 31, 2013, 2012, 2011 and 2010, respectively. None of the five major suppliers individually accounted for more than 10% of total accounts payable as December 31, 2013, 2011 and 2010 while one of the five major suppliers individually accounted for more than 10% of total accounts payable as December 31, 2012. | ||||||||||||||||||||||||||||||||||||||||||||
June 30, 2013 | June 30, 2012 | |||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (g) | Revenue recognition | |||||||||||||||||||||||||||||||||||||||||||
Sales | $ | 1,297,489 | $ | 1,417,582 | ||||||||||||||||||||||||||||||||||||||||||
Gross profit (loss) | $ | -31,826 | $ | 31,045 | Sales is recognized at the date of shipment to customers when a formal arrangement exists, the price is fixed or determinable, the delivery is completed, the Company has no other significant obligations and collectability is reasonably assured. Payments received before all of the relevant criteria for revenue recognition are recorded as customer deposits. Sales represent the invoiced value of goods, net of value-added tax (VAT). All of the Company’s products sold in the PRC are subject to a Chinese value-added tax at a rate of 13% or 17% of the gross sales price. This VAT may be offset by VAT paid by the Company on raw materials and other materials included in the cost of producing the finished product. | |||||||||||||||||||||||||||||||||||||||||
Loss from operations | $ | -9,748 | $ | -14,321 | ||||||||||||||||||||||||||||||||||||||||||
Net loss attributable to controlling interest | $ | -26,619 | $ | -53,480 | (h) | Foreign currency translation and other comprehensive income | ||||||||||||||||||||||||||||||||||||||||
Six months ended | Six months ended | The reporting currency of the Company is the U.S. dollar. The Company’s subsidiaries and VIE in China use the local currency, Renminbi (RMB), as their functional currency. Assets and liabilities are translated at the unified exchange rate as quoted by the People’s Bank of China at the end of the period. The statement of operations accounts are translated at the average translation rates and the equity accounts are translated at historical rates. Translation adjustments resulting from this process are included in accumulated other comprehensive income in the statement of equity. Transaction gains and losses that arise from exchange rate fluctuations on transactions denominated in a currency other than the functional currency are included in the results of operations as incurred. | ||||||||||||||||||||||||||||||||||||||||||||
June 30, 2011 | June 30, 2010 | |||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | Translation adjustments included in accumulated other comprehensive income amounted to $0.7 million, $10.2 million, $10.2 million and $11.0 million as of December 31, 2013, 2012, 2011 and 2010, respectively. The balance sheet amounts, with the exception of equity at December 31, 2013, 2012, 2011 and 2010 were translated at 6.11 RMB, 6.30 RMB, 6.37 RMB and 6.59 RMB to $1.00, respectively. The equity accounts were stated at their historical rate. The average translation rates applied to statement of operations accounts for the years ended December 31, 2013, 2012, 2011 and 2010 were 6.19 RMB, 6.30 RMB, 6.47 RMB and 6.76 RMB, respectively. Cash flows are also translated at average translation rates for the periods, therefore, amounts reported on the statement of cash flows will not necessarily agree with changes in the corresponding balances on the consolidated balance sheet. | ||||||||||||||||||||||||||||||||||||||||||||
Sales | $ | 1,765,980 | $ | 934,187 | ||||||||||||||||||||||||||||||||||||||||||
Gross profit (loss) | $ | 26,818 | $ | 14,146 | The PRC government imposes significant exchange restrictions on fund transfers out of the PRC that are not related to business operations. These restrictions have not had a material impact on the Company because it has not engaged in any significant transactions that are subject to the restrictions. | |||||||||||||||||||||||||||||||||||||||||
Loss from operations | $ | -7,370 | $ | -4,828 | ||||||||||||||||||||||||||||||||||||||||||
Net loss attributable to controlling interest | $ | -29,885 | $ | -14,562 | ||||||||||||||||||||||||||||||||||||||||||
(i) | Financial instruments (restated) | |||||||||||||||||||||||||||||||||||||||||||||
Three months ended | Three months ended | Three months ended | ||||||||||||||||||||||||||||||||||||||||||||
March 31, 2013 | March, 2012 | March, 2011 | The accounting standards regarding fair value of financial instruments and related fair value measurements defines financial instruments and requires disclosure of the fair value of financial instruments held by the Company. The Company considers the carrying amount of cash, short term investment, accounts receivable, other receivables, accounts payable and accrued liabilities, to approximate their fair values because of the short period of time between the origination of such instruments and their expected realization. For short term loans and notes payable, the Company concluded the carrying values are a reasonable estimate of fair values because of the short period of time between the origination and repayment and as their stated interest rates approximate current rates available. The carrying value of the long term loans-related party approximates its fair value as of the reporting date as their stated interest rates approximate current rates available. | |||||||||||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||||||||||||||
Sales | $ | 646,748 | $ | 643,276 | $ | 709,305 | The accounting standards define fair value, establish a three-level valuation hierarchy for disclosures of fair value measurement and enhance disclosure requirements for fair value measures. The three levels are defined as follow: | |||||||||||||||||||||||||||||||||||||||
Gross profit | $ | 4,367 | $ | 5,275 | $ | 4,518 | ||||||||||||||||||||||||||||||||||||||||
Income (loss) from operations | $ | 34,937 | $ | -17,224 | $ | -7,508 | · | Level 1 inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. | ||||||||||||||||||||||||||||||||||||||
Net income (loss) attributable to controlling interest | $ | 8,325 | $ | -30,348 | $ | -10,178 | · | Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the assets or liability, either directly or indirectly, for substantially the full term of the financial instruments. | ||||||||||||||||||||||||||||||||||||||
· | Level 3 inputs to the valuation methodology are unobservable and significant to the fair value. | |||||||||||||||||||||||||||||||||||||||||||||
Longmen Joint Venture has two 100% owned subsidiaries, Yuxin Trading Co., Ltd. (“Yuxin”) and Yuteng Trading Co., Ltd. (“Yuteng”). Prior to March 1, 2012, Longmen Joint Venture had three consolidated subsidiaries, Hualong Fire Retardant Material Co., Ltd. (“Hualong”), Hancheng Tongxing Metallurgy Co., Ltd. (“Tongxing”) and Beijing Huatianyulong International Steel Trading Co., Ltd. (“Huatianyulong”), in which Longmen Joint Venture did not hold a controlling interest. On March 1, 2012, Longmen Joint Venture sold its equity interest in Tongxing, and, as of March 31, 2012, Longmen Joint Venture has two consolidated subsidiaries, Hualong and Huatianyulong, in which it does not hold a controlling interest. Hualong and Huatianyulong are separate legal entities which were established in the PRC as limited liability companies and subsequently acquired by Longmen Joint Venture in June 2007 and July 2008, respectively. Prior to and subsequent to their acquisition by Longmen Joint Venture, these two entities have been operating as self-sustaining integrated sets of activities and assets conducted and managed for the purpose of providing a return to shareholders consisting of all the inputs, processes and outputs of a business. However, these two entities do not meet the definition of variable interest entities. Further consideration was given to whether consolidation was appropriate under the voting interest model, specifically where the power of control may exist with a lesser percentage of ownership (i.e. less than 50%), for example, by contract, lease, agreement with other stockholders or by court decree. | ||||||||||||||||||||||||||||||||||||||||||||||
The Company analyzes all financial instruments with features of both liabilities and equity, pursuant to which previously issued by the Company warrants were required to be recorded as a liability at fair value and marked to market each reporting period. The warrants were accounted for as derivative liabilities and recorded at their fair value, with the change in fair value charged or credited to income each period. The warrants expired unexercised on May 13, 2013. Prior to their expiration, the fair value of the warrants was estimated using a binomial lattice model, using level 3 inputs. See Note 13 – “Convertible notes and derivative liabilities” for the variables used in the Cox Rubenstein Binomial model. | ||||||||||||||||||||||||||||||||||||||||||||||
Hualong | Payments related to the capital lease of the Asset Pool consist of two components: (1) a fixed monthly payment of $2.3 million (RMB 14.6 million), based on Shaanxi Steel’s cost to construct the assets, to be paid for the 20 year term of the Unified Management Agreement; and (2) 40% of any remaining pre-tax profits from the Asset Pool, which includes Longmen Joint Venture and the constructed iron and steel making facilities. The aforementioned profit sharing component meets the definition of a derivative instrument under ASC 815-10-15-83 and, accordingly, the profit sharing liability is accounted for separately as a derivative liability. It was recognized initially at its estimated fair value at inception. The estimated fair value is adjusted each reporting period, with changes in the estimated fair value of the profit sharing liability charged or credited to income each period. | |||||||||||||||||||||||||||||||||||||||||||||
Longmen Joint Venture, the single largest shareholder, holds a 36.0% equity interest in Hualong. The other two shareholders, who own 34.67% and 29.33% respectively, assigned their voting rights to Longmen Joint Venture in writing at the time of the acquisition of Hualong. The voting rights have been assigned through the date Hualong ceases its business operations or the other two shareholders sell their interest in Hualong. Hualong’s main business is to supply refractory. The assets, liabilities and the operating results of Hualong are immaterial to the Company’s condensed consolidated financial statements as of September 30, 2013, June 30, 2013, March 31, 2013, December 31, 2012, September 30, 2012, June 30, 2012, March 31, 2012, December 31, 2011, September 30, 2011, June 30, 2011 and December 31, 2010, for the three and nine months ended September 30, 2013, 2012, 2011 and 2010, three and six months ended June 30, 2013, 2012, 2011 and 2010, and three months ended March 31, 2013, 2012 and 2011, respectively. | The Company determines the fair value of the profit sharing liability using Level 3 inputs by considering the present value of Longmen Joint Venture’s projected profits/losses, discounted based on our average borrowing rate, which is currently 7.3%. | |||||||||||||||||||||||||||||||||||||||||||||
Tongxing | The fair value of the profit sharing liability will change each period as a result of (a) any changes in our estimate of Longmen Joint Venture’s projected profits/losses over the remaining term of the Agreement, (b) any change in the discount rate used, based on changes in our current or expected borrowing rate, (c) the change in fair value related to the passage of time and change in the number of future periods over which the present value of future cash flows is estimated and (d) any difference between the previously estimated operating results for the current period and actual results. | |||||||||||||||||||||||||||||||||||||||||||||
Prior to March 1, 2012, Longmen Joint Venture held a 22.76% equity interest in Tongxing while hundreds of employees of Longmen Joint Venture owned the remaining 77.24%. Each individual employee shareholder comprising the remaining 77.24% assigned its voting rights to Longmen Joint Venture in writing at the time of the acquisition of Tongxing. The voting rights assigned were effective until Tongxing ceased its business operations or Longmen Joint Venture liquidated its equity interest of Tongxing, whichever came first. The assets, liabilities and the operating results of Tongxing were immaterial to the Company’s consolidated financial statements as of December 31, 2011, September 30, 2011, June 30, 2011 and December 31, 2010, for the three and nine months ended September 30, 2011 and 2010, for the three and six months ended June 30, 2011 and 2010, and for the three months ended March 31, 2011, respectively. | Each period, the Company considers whether the discount rate based on the Company’s average borrowing rate should be adjusted based upon the current and expected future financial condition of the Company. To date, the Company has not considered any adjustment to be necessary based upon, but not limited to, the following assumptions: | |||||||||||||||||||||||||||||||||||||||||||||
On March 1, 2012, Longmen Joint Venture sold its 22.76% equity interest of Tongxing to two individuals, who are the representatives from Long Steel Group. As of March 1, 2012, Tongxing had a carrying value of net assets of $40.5 million which were included in the consolidated net assets of the Company and a noncontrolling interest in Tongxing of $32.5 million. The Company retained the land use right associated with the Tongxing property adjacent to the Longmen Joint Venture facility, which had a carrying value of $3.6 million immediately prior to the transaction and relinquished its controlling interest in the remaining net assets (primarily operating assets). In connection with the transaction, the Company also settled with a payable in cash of $0.3 million and transferred the dividend receivable of $0.9 million from Tongxing to the two individuals. These arrangements meet the criteria of ASC 810-10-40-6b and 6d, deconsolidation of a Subsidiary with multiple arrangements treated as a single transaction. As the land use rights held in Tongxing have been included as part of the Company’s consolidated assets, this transaction was considered as a change in the Company’s ownership interest in the land use right similar to a change in a parent company’s ownership interest in a subsidiary in accordance with ASC 810-10-45-23 and therefore the carrying value of the land use right was not stepped up to fair value. The net impact of these transactions resulted in a reduction of $3.1 million paid-in capital on March 1, 2012. | · | because the joint venture partner of Longmen Joint Venture is a state-owned enterprise with an excellent credit history, PRC banks grant similar credit treatment to Longmen Joint Venture in terms of credit availability | ||||||||||||||||||||||||||||||||||||||||||||
Huatianyulong | · | the current average borrowing rate of enterprises in the steel industry in the PRC is similar to this borrowing rate | ||||||||||||||||||||||||||||||||||||||||||||
Longmen Joint Venture holds a 50.0% equity interest in Huatianyulong and the other unrelated shareholder holds the remaining 50.0%. The other shareholder assigned its voting rights to Longmen Joint Venture in writing at the time of acquisition of Huatianyulong. The voting rights have been assigned through the date Huatianyulong ceases its business operation or the other unrelated shareholder sells its interest in Huatianyulong. Huatianyulong mainly sells imported iron ore. The assets, liabilities and the operating results of Hualong are immaterial to the Company’s consolidated financial statements as of September 30, 2013, June 30, 2013, March 31, 2013, December 31, 2012, September 30, 2012, June 30, 2012, March 31, 2012, December 31, 2011, September 30, 2011, June 30, 2011 and December 31, 2010, for the three and nine months ended September 30, 2013, 2012, 2011 and 2010, three and six months ended June 30, 2013, 2012, 2011 and 2010, and three months ended March 31, 2013, 2012 and 2011, respectively. | · | the current new/renewal borrowing rates of the Company’s bank loans are similar to prior periods | ||||||||||||||||||||||||||||||||||||||||||||
The Company has determined that it is appropriate for Longmen Joint Venture to consolidate Hualong and Huatianyulong with appropriate recognition in the Company’s financial statements of the non-controlling interests in each entity, beginning on the acquisition dates as these were also the effective dates of the agreements with other stockholders granting a majority voting rights in each entity, and thereby, the power of control, to Longmen Joint Venture. The Company also has determined that it is appropriate for Longmen Joint Venture to consolidate Tongxing’s net income from the beginning of the acquisition date to March 1, 2012, the date on which Longmen Joint Venture relinquished its equity interest and majority voting rights in Tongxing, and thereby its power of control of Tongxing. | · | the People’s Bank of China has not recently adjusted any borrowing rate | ||||||||||||||||||||||||||||||||||||||||||||
(d) | Liquidity | · | PRC bank interest rates are not industry specific. The downtrend in the steel industry did not materially impact the bank borrowing rates for steel companies | |||||||||||||||||||||||||||||||||||||||||||
The Company’s accounts have been prepared in accordance with U.S. GAAP on a going concern basis. The going concern basis assumes that assets are realized and liabilities are extinguished in the ordinary course of business at amounts disclosed in the financial statements. The Company’s ability to continue as a going concern depends upon aligning its sources of funding (debt and equity) with the expenditure requirements of the Company and repayment of the short-term debt facilities as and when they fall due. | · | the bank interest rates are assessed by each individual bank and governed by the Chinese banking regulatory bodies. Reports from credit rating research firms are not commonly used by PRC banks | ||||||||||||||||||||||||||||||||||||||||||||
The steel business is capital intensive and as a normal industry practice in PRC, the Company is highly leveraged. Debt financing in the form of short term bank loans, loans from related parties, financing sales, bank acceptance notes, and capital leases have been utilized to finance the working capital requirements and the capital expenditures of the Company. As a result, the Company’s debt to equity ratio as of September 30, 2013, June 30, 2013, March 31, 2013, December 31, 2012, September 30, 2012, June 30, 2012, March 31, 2012, December 31, 2011, September 30, 2011, June 30, 2011 and December 31, 2010 were (6.6), (5.9), (6.7), (7.1), (8.1), (10.1), (13.6), (19.8), 56.1, 33.0 and 13.8, respectively. As of September 30, 2013, the Company’s current liabilities exceed current assets (excluding non-cash item) by $1.1 billion. | The projected profits/losses in Longmen Joint Venture were based upon, but not limited to, the following assumptions: | |||||||||||||||||||||||||||||||||||||||||||||
Longmen Joint Venture, as the most important entity of the Company, accounted for majority of total sales of the Company. As such, the majority of the Company’s working capital needs come from Longmen Joint Venture. The Company’s ability to continue as a going concern depends heavily on Longmen Joint Venture’s operations. Longmen Joint Venture has obtained different types of financial supports, which are listed below by category: | · | projected selling units and growth in the steel market | ||||||||||||||||||||||||||||||||||||||||||||
Line of credit | · | projected unit selling price in the steel market | ||||||||||||||||||||||||||||||||||||||||||||
The Company received lines of credit from the listed major banks totaling $110.8 million with expiration dates ranging from September 27, 2014 to October 26, 2014. | · | projected unit purchase cost in the coal and iron ore markets | ||||||||||||||||||||||||||||||||||||||||||||
Banks | Amount of | Repayment Date | · | selling and general and administrative expenses to be in line with the growth in the steel market | ||||||||||||||||||||||||||||||||||||||||||
Line of Credit | ||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | · | projected bank borrowings | ||||||||||||||||||||||||||||||||||||||||||||
Bank of China | 6.5 | August 25, 2014 to October 26, 2014 | ||||||||||||||||||||||||||||||||||||||||||||
China Everbright Bank | 48.9 | 8-Oct-14 | · | interest rate index | ||||||||||||||||||||||||||||||||||||||||||
Bank of Xi’an | 32.6 | 9-Oct-14 | ||||||||||||||||||||||||||||||||||||||||||||
Bank of Jinzhou | 22.8 | September 27, 2014* | · | gross national product index | ||||||||||||||||||||||||||||||||||||||||||
Total | $ | 110.8 | ||||||||||||||||||||||||||||||||||||||||||||
· | industry index | |||||||||||||||||||||||||||||||||||||||||||||
* Management expects the line of credit will be extended after September 27, 2014. | ||||||||||||||||||||||||||||||||||||||||||||||
· | government policy | |||||||||||||||||||||||||||||||||||||||||||||
As of the date of this report, the Company utilized $61.9 million of these lines of credit. | ||||||||||||||||||||||||||||||||||||||||||||||
The above assumptions were reviewed by the Company at December 31, 2013 and the Company changed those assumptions compared with the assumptions used at December 31, 2012 and 2011 because of the changes in market conditions in the PRC. Since the Company had the most updated information from the banks, GDP report, government policies, and the operating results from the year ended December 31, 2013, all of the above information indicated the downward trend in the steel manufacturing industry in the coming years. As a result, the Company re-measured the fair value of the 40% profit sharing liability as of the period ended December 31, 2013 and recorded a gain on change in fair value of profit sharing liability of $ $174.6 million for the year ended December 31, 2013. | ||||||||||||||||||||||||||||||||||||||||||||||
Vendor financing | ||||||||||||||||||||||||||||||||||||||||||||||
The estimated fair value of the profit sharing liability at December 31, 2013 is $162.3 million. Changes in any of the assumptions used to estimate the fair value of the profit sharing liability will change the liability accordingly. If we were to reduce the projected bank borrowing rate used to discount the liability to a present value by 1.0% and other factors remained unchanged, our profit sharing liability as of December 31, 2013 would have been $186.0 million and we would reduce the gain from the change in the fair value of the profit sharing liabilities by $23.7 million. If we were to reduce the projected selling units and growth in the steel market rate by 1.0% and other factors remained unchanged, our profit sharing liability as of December 31, 2013 would have been $159.8 million and we would reduce the loss from the change in the fair value of profit sharing liabilities by $2.5 million. | ||||||||||||||||||||||||||||||||||||||||||||||
Longmen Joint Venture signed additional vendor financing agreements, which will provide liquidity to the Company in a total amount of $815.0 million with the following companies: | ||||||||||||||||||||||||||||||||||||||||||||||
The following table sets forth by level within the fair value hierarchy, the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis as of December 31, 2013: | ||||||||||||||||||||||||||||||||||||||||||||||
Company | Financing period covered | Financing Amount | ||||||||||||||||||||||||||||||||||||||||||||
(in millions) | Carrying Value as | Fair Value Measurements at December 31, | ||||||||||||||||||||||||||||||||||||||||||||
of December 31, | 2013 | |||||||||||||||||||||||||||||||||||||||||||||
Company A – related party | January 6, 2013 – January 5, 2015 | $ | 163 | (in thousands) | 2013 | Using Fair Value Hierarchy | ||||||||||||||||||||||||||||||||||||||||
Company B – third party | January 6, 2013 – November 7, 2015 | 163 | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||||||||||||||||||||
Company C – third party | October 1, 2013 – March 31, 2015 | 489 | Profit sharing liability | $ | 162,295 | $ | - | $ | - | $ | 162,295 | |||||||||||||||||||||||||||||||||||
Total | $ | 815 | Total | $ | 162,295 | $ | - | $ | - | $ | 162,295 | |||||||||||||||||||||||||||||||||||
Company A, a related party company and Company B, a third party company, are both Longmen Joint Venture’s major coke suppliers. They have been doing business with Longmen Joint Venture for years. Each company has signed a two-year agreement with Longmen Joint Venture which was effective on January 6, 2013 to finance Longmen Joint Venture for its coke purchase for a two-year period. Company B signed an additional two-year agreement with Longmen Joint Venture effective on November 7, 2013. According to the above signed agreement, both Company A and B will not demand any cash payments for next two years. As of the date of this report, our payables to Company A and Company B were approximately $64.3 million and $51.9 million, respectively. | The following table sets forth by level within the fair value hierarchy the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis as of December 31, 2012: | |||||||||||||||||||||||||||||||||||||||||||||
As a critical business stakeholder to the Company’s Tianwu Joint Venture, Company C is a Fortune 500 Company. In October 2012, Company C signed a one year agreement with Longmen Joint Venture to finance Longmen Joint Venture’s purchase of iron ore for an amount up to $158.3 million to commence on October 1, 2012. In June 2013, Company C signed another one year agreement with Longmen Joint Venture to finance Longmen Joint Venture’s purchase of iron ore for an amount up to $318.4 million to commence on October 1, 2013. According to the agreement, Company C agrees to provide an amount not less than $318.4 million in iron ore to Longmen Joint Venture. Subject to the terms of the agreement, Longmen Joint Venture is subject to a penalty of 0.05% of the daily outstanding balance owed to Company C in an event of late payment. The agreement also helps secure Company C’s iron ore sales to Longmen Joint Venture. On June 28, 2013, Company C agreed to increase the finance amount limit to $489.0 million and extended the financing period to March 31, 2015. As of the date of this report, our payable to Company C is approximately $1.2 million. | (in thousands) | Carrying Value as | Fair Value Measurements at December 31, | |||||||||||||||||||||||||||||||||||||||||||
of December 31, | 2012 | |||||||||||||||||||||||||||||||||||||||||||||
Financing sales | 2012 | Using Fair Value Hierarchy | ||||||||||||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||||||||||||||||||||||
As part of our working capital management, Longmen Joint Venture has entered into an additional financing sales agreement with a third party company, Company D and two 100% owned subsidiaries of Longmen Joint Venture, named Yuxin Trading Co., Ltd. (“Yuxin”) and Yuteng Trading Co., Ltd. (“Yuteng”) (“financing sales”) to provide liquidity to the Company in the total amount of $81.5 million. See Note 10 for financing sales details. | Derivative liabilities - warrants | $ | 1 | $ | - | $ | - | $ | 1 | |||||||||||||||||||||||||||||||||||||
Profit sharing liability | 328,827 | - | - | 328,827 | ||||||||||||||||||||||||||||||||||||||||||
Based on the contract terms, from December 31, 2012 until the earlier of the expiration date of the contract or December 31, 2013, the advance payment balance from Company D cannot be less than $81.5 million. The contract has been extended to December 31, 2014. The remaining financing sales balance can be paid by installment based on Longmen Joint Venture’s goods delivery volume. As of the date of this report, our payable to Company D is approximately $24.5 million. | Total | $ | 328,828 | $ | - | $ | - | $ | 328,828 | |||||||||||||||||||||||||||||||||||||
Other financing | The following table sets forth by level within the fair value hierarchy the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis as of December 31, 2011: | |||||||||||||||||||||||||||||||||||||||||||||
On January 7, 2013, November 6, 2013 and November 7, 2013, Longmen Joint Venture signed a payment extension agreement with each company listed below. In total, Longmen Joint Venture can get $77.4 million in financial support from a two-year balancing payment extension granted by the following five companies: | (in thousands) | Carrying Value as | Fair Value Measurements at December 31, | |||||||||||||||||||||||||||||||||||||||||||
of December 31, | 2011 | |||||||||||||||||||||||||||||||||||||||||||||
Company | Financing period covered | Financing Amount | 2011 | Using Fair Value Hierarchy | ||||||||||||||||||||||||||||||||||||||||||
(in millions) | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||||||||||||||||||||||
Derivative liabilities - warrants | $ | 10 | $ | - | $ | - | $ | 10 | ||||||||||||||||||||||||||||||||||||||
Company E – related party | January 7, 2013 – January 6, 2015 | $ | 16.3 | Profit sharing liability | 303,233 | - | - | 303,233 | ||||||||||||||||||||||||||||||||||||||
Company F – related party | January 7, 2013 – January 6, 2015 | 21.2 | Total | $ | 303,243 | $ | - | $ | - | $ | 303,243 | |||||||||||||||||||||||||||||||||||
Company G – related party | January 7, 2013 – January 6, 2015 | 7.3 | ||||||||||||||||||||||||||||||||||||||||||||
Company H – related party | November 7, 2013 – November 7, 2015 | 16.3 | The following table sets forth by level within the fair value hierarchy the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis as of December 31, 2010: | |||||||||||||||||||||||||||||||||||||||||||
Company I – related party | November 6, 2013 – November 6, 2015 | 16.3 | ||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 77.4 | (in thousands) | Carrying Value as | Fair Value Measurements at December 31, | |||||||||||||||||||||||||||||||||||||||||
of December 31, | 2010 | |||||||||||||||||||||||||||||||||||||||||||||
According to the contract terms, Company E, Company F, Company G, Company H and Company I have agreed to grant a two year payment extension in the amounts of $16.3 million, $21.2 million, $7.3 million, $16.3 million and $16.3 million respectively. As of the date of this report, our payables to Company E, Company F, Company G, Company H and Company I are approximately $17.9 million, $14.0 million, $18.9 million, $7.5 million and $0, respectively. | 2010 | Using Fair Value Hierarchy | ||||||||||||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||||||||||||||||||||||
Derivative liabilities - warrants | $ | 5,573 | $ | - | $ | - | $ | 5,573 | ||||||||||||||||||||||||||||||||||||||
Each period, the Company considers whether the discount rate based on the Company’s average borrowing rate should be adjusted based upon the current and expected future financial condition of the Company. To date, the Company has not considered any adjustment to be necessary based upon, but not limited to, the following assumptions: | ||||||||||||||||||||||||||||||||||||||||||||||
The following is a reconciliation of the beginning and ending balance of the assets and liabilities measured at fair value on a recurring basis for the years ended December 31, 2013, 2012, 2011 and 2010: | ||||||||||||||||||||||||||||||||||||||||||||||
· | because the joint venture partner of Longmen Joint Venture is a state-owned enterprise with an excellent credit history, PRC banks grant similar credit treatment to Longmen Joint Venture in terms of credit availability | |||||||||||||||||||||||||||||||||||||||||||||
· | the current average borrowing rate of enterprises in the steel industry in the PRC is similar to this borrowing rate | December 31, | December 31, | December 31, | December 31, | |||||||||||||||||||||||||||||||||||||||||
· | the current new/renewal borrowing rates of the Company’s bank loans are similar to prior periods | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||||||||||||||||||||||||
· | the People’s Bank of China has not recently adjusted any borrowing rate | (in thousands) | (in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||||||||||||||||||||||
· | PRC bank interest rates are not industry specific. The downtrend in the steel industry did not materially impact the bank borrowing rates for steel companies | Beginning balance | $ | 328,828 | $ | 303,243 | $ | 5,573 | $ | 24,390 | ||||||||||||||||||||||||||||||||||||
· | the bank interest rates are assessed by each individual bank and governed by the Chinese banking regulatory bodies. Reports from credit rating research firms are not commonly used by PRC banks | Initial measurement and recognition of the 40% profit sharing liability on April 29, 2011 | - | - | 280,857 | - | ||||||||||||||||||||||||||||||||||||||||
Change in fair value of profit sharing liability: | ||||||||||||||||||||||||||||||||||||||||||||||
The projected profits/losses in Longmen Joint Venture were based upon, but not limited to, the following assumptions: | Change in estimate of future operating profits | -174,821 | - | - | - | |||||||||||||||||||||||||||||||||||||||||
Change in discount rate | - | - | - | |||||||||||||||||||||||||||||||||||||||||||
· | projected selling units and growth in the steel market | Change in the number of future periods over which the present value of future cash | 16,872 | 22,499 | 14,047 | - | ||||||||||||||||||||||||||||||||||||||||
· | projected unit selling price in the steel market | Difference between the previously estimated operating results for the current period and actual results | -16,620 | - | - | - | ||||||||||||||||||||||||||||||||||||||||
· | projected unit purchase cost in the coal and iron ore markets | Current period interest expense accreted | - | - | - | 389 | ||||||||||||||||||||||||||||||||||||||||
· | selling and general and administrative expenses to be in line with the growth in the steel market | Current period payments made for principal and stated interest | - | - | - | -217 | ||||||||||||||||||||||||||||||||||||||||
· | projected bank borrowings | Current period note converted carrying value | - | - | - | -3,934 | ||||||||||||||||||||||||||||||||||||||||
· | interest rate index | Change in derivative liabilities - warrants | 1 | 9 | -5,563 | -15,055 | ||||||||||||||||||||||||||||||||||||||||
· | gross national product index | Exchange rate effect | 8,035 | 3,077 | 8,329 | - | ||||||||||||||||||||||||||||||||||||||||
· | industry index | Ending balance | $ | 162,295 | $ | 328,828 | $ | 303,243 | $ | 5,573 | ||||||||||||||||||||||||||||||||||||
· | government policy | |||||||||||||||||||||||||||||||||||||||||||||
Except for the derivative liabilities and profit sharing liability, the Company did not identify any other assets or liabilities that are required to be presented on the balance sheet at fair value in accordance with the accounting standard. | ||||||||||||||||||||||||||||||||||||||||||||||
The above assumptions were reviewed by the Company at September 30, 2013 and the Company changed those assumptions compared with the assumptions used at December 31, 2012 because of the changes in market conditions in the PRC. Since the Company had the most updated information from the banks, GDP report and the operating results from the three and nine months ended September 30, 2013, all of the above information indicated the downward trend in the steel manufacturing industry in the coming years. As a result, the Company re-measured the fair value of the 40% profit sharing liability as of the period ended September 30, 2013 and recorded a gain on change in fair value of profit sharing liability of $39.2 million and $95.4 million for the three and nine months ended September 30, 2013, respectively. | ||||||||||||||||||||||||||||||||||||||||||||||
(j) | Cash | |||||||||||||||||||||||||||||||||||||||||||||
The estimated fair value of the profit sharing liability at September 30, 2013 is $241.1 million. Changes in any of the assumptions used to estimate the fair value of the profit sharing liability will change the liability accordingly. If we were to reduce the projected bank borrowing rate by 1.0% and other factors remained unchanged, our profit sharing liability as of September 30, 2013 would have been $254.9 million and we would reduce the gain from the change in the fair value of the profit sharing liabilities by $13.8 million. If we were to reduce the projected selling units and growth in the steel market rate by 1.0% and other factors remained unchanged, our profit sharing liability as of September 30, 2013 would have been $214.3 million and we would increase the gain from the change in the fair value of profit sharing liabilities by $26.8 million. | ||||||||||||||||||||||||||||||||||||||||||||||
Cash includes cash on hand and demand deposits in banks with original maturities of less than three months. | ||||||||||||||||||||||||||||||||||||||||||||||
The following table sets forth by level within the fair value hierarchy, the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis as of September 30, 2013: | ||||||||||||||||||||||||||||||||||||||||||||||
(k) | Restricted cash | |||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | Carrying Value as | Fair Value Measurements at September 30, | ||||||||||||||||||||||||||||||||||||||||||||
of September 30, | 2013 | The Company has notes payable outstanding with various banks and is required to keep certain amounts on deposit that are subject to withdrawal restrictions. The notes payable are generally short term in nature due to its maturity period of six months or less, thus restricted cash is classified as a current asset. | ||||||||||||||||||||||||||||||||||||||||||||
2013 | Using Fair Value Hierarchy | |||||||||||||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | (l) | Short term investment | ||||||||||||||||||||||||||||||||||||||||||
Profit sharing liability | $ | 241,090 | $ | - | $ | - | $ | 241,090 | ||||||||||||||||||||||||||||||||||||||
Total | $ | 241,090 | $ | - | $ | - | $ | 241,090 | Short-term investments are certificated deposits maintained with banks within the PRC with maturity date of less than one year. | |||||||||||||||||||||||||||||||||||||
The following table sets forth by level within the fair value hierarchy, the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis as of June 30, 2013: | (m) | Accounts receivable and allowance for doubtful accounts | ||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | Carrying Value as | Fair Value Measurements at June 30, 2013 | Accounts receivable include trade accounts due from customers and other receivables from cash advances to employees, related parties or third parties. An allowance for doubtful accounts is established and recorded based on managements’ assessment of potential losses based on the credit history and relationships with the customers. Management reviews its receivables on a regular basis to determine if the bad debt allowance is adequate, and adjusts the allowance when necessary. Delinquent account balances are written-off against allowance for doubtful accounts after management has determined that the likelihood of collection is not probable. | |||||||||||||||||||||||||||||||||||||||||||
of June 30, 2013 | Using Fair Value Hierarchy | |||||||||||||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | (n) | Notes receivable | ||||||||||||||||||||||||||||||||||||||||||
Profit sharing liability | $ | 278,788 | $ | - | $ | - | $ | 278,788 | ||||||||||||||||||||||||||||||||||||||
Total | $ | 278,788 | $ | - | $ | - | $ | 278,788 | Notes receivable represents trade accounts receivable due from various customers where the customers’ banks have guaranteed the payment. The notes are non-interest bearing and normally paid within three to six months. The Company has the ability to submit request for payment to the customer’s bank earlier than the scheduled payment date, but will incur an interest charge and a processing fee. | |||||||||||||||||||||||||||||||||||||
The following table sets forth by level within the fair value hierarchy, the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis as of March 31, 2013: | Restricted notes receivable represents notes receivable pledged as collateral for short-term loans and short-term notes payable issued by banks. | |||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | Carrying Value as | Fair Value Measurements at March 31, 2013 | Interest expenses for early submission request of payment amounted to $37.9 million, $90.0 million $34.2 million and $24.4 million, respectively, for the years ended December 31, 2013, 2012, 2011 and 2010. | |||||||||||||||||||||||||||||||||||||||||||
of March 31, 2013 | Using Fair Value Hierarchy | |||||||||||||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | (o) | Advances on inventory purchase | ||||||||||||||||||||||||||||||||||||||||||
Profit sharing liability | $ | 283,831 | $ | - | $ | - | $ | 283,831 | ||||||||||||||||||||||||||||||||||||||
Total | $ | 283,831 | $ | - | $ | - | $ | 283,831 | Advances on inventory purchases are monies deposited or advanced to outside vendors or related parties on future inventory purchases. Due to the shortage of raw material in China, most of the Company’s vendors require a certain amount of money to be deposited with them as a guarantee that the Company will complete its purchases on a timely basis. | |||||||||||||||||||||||||||||||||||||
The following table sets forth by level within the fair value hierarchy the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis as of December 31, 2012: | This amount is refundable and bears no interest. The Company has legally binding contracts with its vendors, which required the deposit to be returned to the Company when the contract ends. The inventory is normally delivered within one month after the monies have been advanced. | |||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | Carrying Value as | Fair Value Measurements at December 31, 2012 | (p) | Inventories | ||||||||||||||||||||||||||||||||||||||||||
of December 31, | Using Fair Value Hierarchy | |||||||||||||||||||||||||||||||||||||||||||||
2012 | Inventories are comprised of raw materials, work in progress and finished goods and are stated at the lower of cost or market using the weighted average cost method. Management reviews inventories for obsolescence and cost in excess of net realizable value at least annually and records a reserve against the inventory and additional cost of goods sold when the carrying value exceeds net realizable value. The Company had written-off $9.8 million, $38.5 million, $37.5 million and $1.1 million inventory cost as of December 31, 2013, 2012, 2011 and 2010, respectively. | |||||||||||||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||||||||||||||||||||||
Derivative liabilities | $ | 1 | $ | - | $ | - | $ | 1 | (q) | Shipping and handling | ||||||||||||||||||||||||||||||||||||
Profit sharing liability | 328,827 | - | - | 328,827 | ||||||||||||||||||||||||||||||||||||||||||
Total | $ | 328,828 | $ | - | $ | - | $ | 328,828 | Shipping and handling for raw materials purchased are included in cost of goods sold. Shipping and handling cost incurred to ship finished products to customers are included in selling expenses. Shipping and handling expenses for finished goods for the years ended December 31, 2013, 2012, 2011 and 2010 amounted to $23.1 million, $23.7 million, $30.1 million and $9.5 million, respectively. | |||||||||||||||||||||||||||||||||||||
The following table sets forth by level within the fair value hierarchy, the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis as of September 30, 2012: | (r) | Plant and equipment, net | ||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | Carrying Value as | Fair Value Measurements at September 30, 2012 | Plant and equipment are stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the assets with a 3%-5% residual value. The depreciation expense on assets acquired under capital leases is included with depreciation expense on owned assets. The estimated useful lives are as follows: | |||||||||||||||||||||||||||||||||||||||||||
of September 30, | Using Fair Value Hierarchy | |||||||||||||||||||||||||||||||||||||||||||||
2012 | Buildings and Improvements | 10-40 Years | ||||||||||||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Machinery | 10-30 Years | ||||||||||||||||||||||||||||||||||||||||||
Derivative liabilities | $ | 58 | $ | - | $ | - | $ | 58 | Machinery and equipment under capital lease | 10-20 Years | ||||||||||||||||||||||||||||||||||||
Profit sharing liability | 322,386 | - | - | 322,386 | Other equipment | 5 Years | ||||||||||||||||||||||||||||||||||||||||
Total | $ | 322,444 | $ | - | $ | - | $ | 322,444 | Transportation Equipment | 5 Years | ||||||||||||||||||||||||||||||||||||
The following table sets forth by level within the fair value hierarchy, the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis as of June 30, 2012: | The Company assesses all significant leases for purposes of classification as either operating or capital. At lease inception, if the lease meets any of the four following criteria, the Company will classify it as a capital lease; otherwise it will be treated as an operating lease: a) transfer of ownership to lessee at the end of the lease term, b) bargain purchase option, c) lease term is equal to 75% or more of the estimated economic life of the leased property, d) the present value of the minimum lease payments is 90% or more of the fair value of the leased asset. | |||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | Carrying Value as | Fair Value Measurements at June 30, 2012 | Construction in progress represents the costs incurred in connection with the construction of buildings or new additions to the Company’s plant facilities. No depreciation is provided for construction in progress until such time as the assets are completed and are placed into service, maintenance, repairs and minor renewals are charged directly to expense as incurred. Major additions and betterment to buildings and equipment are capitalized. Interest incurred during construction is capitalized into construction in progress. All other interest is expensed as incurred. | |||||||||||||||||||||||||||||||||||||||||||
of June 30, 2012 | Using Fair Value Hierarchy | |||||||||||||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Long lived assets, including buildings and improvements, equipment and intangible assets are reviewed if events and changes in circumstances indicate that its carrying amount may not be recoverable, to determine whether their carrying value has become impaired. The Company considers assets to be impaired if the carrying value exceeds the future projected cash flows from related operations. The Company also re-evaluates the periods of depreciation and amortization to determine whether subsequent events and circumstances warrant revised estimates of useful lives. | |||||||||||||||||||||||||||||||||||||||||||
Derivative liabilities | $ | 3 | $ | - | $ | - | $ | 3 | ||||||||||||||||||||||||||||||||||||||
Profit sharing liability | 317,174 | - | - | 317,174 | (s) | Intangible assets | ||||||||||||||||||||||||||||||||||||||||
Total | $ | 317,177 | $ | - | $ | - | $ | 317,177 | ||||||||||||||||||||||||||||||||||||||
Finite lived intangible assets of the Company are reviewed for impairment if events and circumstances require. The Company considers assets to be impaired if the carrying value exceeds the future projected cash flows from related operations. The Company also re-evaluates the periods of amortization to determine whether subsequent events and circumstances warrant revised estimates of useful lives. As of December 31, 2013, the Company expects these assets to be fully recoverable. | ||||||||||||||||||||||||||||||||||||||||||||||
The following table sets forth by level within the fair value hierarchy, the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis as of March 31, 2012: | Land use rights | |||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | Carrying Value as | Fair Value Measurements at March 31, 2012 | All land in the PRC is owned by the government. However, the government grants “land use rights.” General Steel (China) acquired land use rights in 2001 for a total of $3.9 million (RMB 23.7 million). These land use rights are for 50 years and expire in 2050 and 2053. The Company amortizes the land use rights over the twenty-year business term because its business license had a twenty-year term. | |||||||||||||||||||||||||||||||||||||||||||
of March 31, 2012 | Using Fair Value Hierarchy | |||||||||||||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Long Steel Group contributed land use rights for a total amount of $24.3 million (RMB 148.3 million) to the Longmen Joint Venture. The contributed land use rights are for 50 years and expire in 2048 to 2052. | |||||||||||||||||||||||||||||||||||||||||||
Derivative liabilities | $ | 23 | $ | - | $ | - | $ | 23 | ||||||||||||||||||||||||||||||||||||||
Profit sharing liability | 311,358 | - | - | 311,358 | Maoming Hengda has land use rights amounting to $2.7 million (RMB 16.6 million) for 50 years that expire in 2054. | |||||||||||||||||||||||||||||||||||||||||
Total | $ | 311,381 | $ | - | $ | - | $ | 311,381 | ||||||||||||||||||||||||||||||||||||||
Other than the land use rights that General Steel (China) acquired in 2001, the Company amortizes the land use rights over their 50 year term. | ||||||||||||||||||||||||||||||||||||||||||||||
The following table sets forth by level within the fair value hierarchy the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis as of December 31, 2011: | ||||||||||||||||||||||||||||||||||||||||||||||
Entity | Original Cost | Expires on | ||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | Carrying Value as | Fair Value Measurements at December 31, 2011 | (in thousands) | |||||||||||||||||||||||||||||||||||||||||||
of December 31, | Using Fair Value Hierarchy | General Steel (China) | $ | 3,884 | 2050 & 2053 | |||||||||||||||||||||||||||||||||||||||||
2011 | Longmen Joint Venture | $ | 24,283 | 2048 & 2052 | ||||||||||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Maoming Hengda | $ | 2,717 | 2054 | ||||||||||||||||||||||||||||||||||||||||
Derivative liabilities | $ | 10 | $ | - | $ | - | $ | 10 | ||||||||||||||||||||||||||||||||||||||
Profit sharing liability | 303,233 | - | - | 303,233 | ||||||||||||||||||||||||||||||||||||||||||
Total | $ | 303,243 | $ | - | $ | - | $ | 303,243 | Mining right | |||||||||||||||||||||||||||||||||||||
The following table sets forth by level within the fair value hierarchy, the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis as of September 30, 2011: | Mining rights are capitalized at cost when acquired, including amounts associated with any value beyond proven and probable reserves, and amortized to operations as depletion expense using the units-of-production method over the estimated proven and probable recoverable tons. In October 2011, Longmen Joint Venture acquired an iron ore mining right amounting to $2.5 million (RMB 15.0 million), which is amortized over the estimated recoverable reserve of 4.2 million tons. | |||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | Carrying Value | Fair Value Measurements at September 30, 2011 | (t) | Investments in unconsolidated entities | ||||||||||||||||||||||||||||||||||||||||||
as of | Using Fair Value Hierarchy | |||||||||||||||||||||||||||||||||||||||||||||
September 30, | Entities in which the Company has the ability to exercise significant influence, but does not have a controlling interest, are accounted for using the equity method. Significant influence is generally considered to exist when the Company has an ownership interest in the voting stock between 20% and 50%, and other factors, such as representation on the Board of Directors, voting rights and the impact of commercial arrangements, are considered in determining whether the equity method of accounting is appropriate. The Company accounts for investments with ownership less than 20% using the cost method. | |||||||||||||||||||||||||||||||||||||||||||||
2011 | ||||||||||||||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | The tables below summarize Longmen Joint Venture’s investment holdings as of December 31, 2013, 2012, 2011 and 2010. | |||||||||||||||||||||||||||||||||||||||||||
Derivative liabilities | $ | 48 | $ | - | $ | - | $ | 48 | ||||||||||||||||||||||||||||||||||||||
Profit sharing liability | 296,723 | - | - | 296,723 | December 31, | December 31, | ||||||||||||||||||||||||||||||||||||||||
Total | $ | 296,771 | $ | - | $ | - | $ | 296,771 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||||
Unconsolidated entities | Year | Net investment | Owned | Net investment | Owned | |||||||||||||||||||||||||||||||||||||||||
The following table sets forth by level within the fair value hierarchy, the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis as of June 30, 2011: | acquired | (In thousands) | % | (In thousands) | % | |||||||||||||||||||||||||||||||||||||||||
Xi’an Delong Powder Engineering Materials Co., Ltd. | 2007 | $ | 1,215 | 24.1 | $ | 1,166 | 24.1 | |||||||||||||||||||||||||||||||||||||||
(in thousands) | Carrying Value | Fair Value Measurements at June 30, 2011 | ||||||||||||||||||||||||||||||||||||||||||||
as of | Using Fair Value Hierarchy | December 31, | December 31, | |||||||||||||||||||||||||||||||||||||||||||
June 30, 2011 | 2011 | 2010 | ||||||||||||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Year | Net investment | Owned | Net investment | Owned | |||||||||||||||||||||||||||||||||||||||
Derivative liabilities | $ | 182 | $ | - | $ | - | $ | 182 | Unconsolidated entities | acquired | (In thousands) | % | (In thousands) | % | ||||||||||||||||||||||||||||||||
Profit sharing liability | 284,871 | - | - | 284,871 | Xi’an Delong Powder Engineering Materials Co., Ltd. | 2007 | $ | 1,041 | 24.1 | $ | 1,236 | 27 | ||||||||||||||||||||||||||||||||||
Total | $ | 285,053 | $ | - | $ | - | $ | 285,053 | Shaanxi Daxigou Mining Co., Ltd | 2004 | 8,304 | 22.1 | 4,779 | 22.1 | ||||||||||||||||||||||||||||||||
Shaanxi Xinglong Thermoelectric Co., Ltd. | 2004-2007 | - | - | 8,534 | 20.7 | |||||||||||||||||||||||||||||||||||||||||
The following table sets forth by level within the fair value hierarchy the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis as of December 31, 2010: | Huashan Metallurgical Equipment Co., Ltd. | 2003 | 3,067 | 25 | 2,907 | 25 | ||||||||||||||||||||||||||||||||||||||||
Shaanxi Long Steel Group Baoji Steel Rolling Co., Ltd | 2003 | 428 | 23.8 | - | 25 | |||||||||||||||||||||||||||||||||||||||||
(in thousands) | Carrying Value as | Fair Value Measurements at December 31, 2010 | Total | $ | 12,840 | $ | 17,456 | |||||||||||||||||||||||||||||||||||||||
of December 31, | Using Fair Value Hierarchy | |||||||||||||||||||||||||||||||||||||||||||||
2010 | The table below summarizes General Steel (China)’s investment holding (see Note 3(a) - Basis of presentation) as of December 31, 2013 and 2012. | |||||||||||||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||||||||||||||||||||||
Derivative liabilities | $ | 5,573 | $ | - | 5,573 | December 31, | December 31, | |||||||||||||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||||||||||||||||||||
Unconsolidated entities | Year | Net investment | Owned | Net investment | Owned | |||||||||||||||||||||||||||||||||||||||||
The following is a reconciliation of the beginning and ending balance of the assets and liabilities measured at fair value on a recurring basis for the following periods: | acquired | (In thousands) | % | (In thousands) | % | |||||||||||||||||||||||||||||||||||||||||
Tianwu General Steel Material Trading Co., Ltd. | 2010 | $ | 15,728 | 32 | $ | 1,064 | 32 | |||||||||||||||||||||||||||||||||||||||
September 30, 2013 | June 30, 2013 | March 31, 2013 | December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | Total investment income in unconsolidated subsidiaries amounted to $0.2 million, $0.2 million, $3.9 million and $6.4 million for the years ended December 31, 2013, 2012, 2011 and 2010, respectively, which was included in “Income from equity investments” in the consolidated statements of operations and comprehensive loss. | ||||||||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 328,828 | $ | 328,828 | $ | 328,828 | $ | 303,243 | ||||||||||||||||||||||||||||||||||||||
Change in fair value of profit sharing liability: | (u) | Short-term notes payable | ||||||||||||||||||||||||||||||||||||||||||||
Change in estimate of future operating profits | -99,170 | -63,537 | -51,892 | - | ||||||||||||||||||||||||||||||||||||||||||
Change in discount rate | - | - | - | - | Short-term notes payable are lines of credit extended by banks. The banks in-turn issue the Company a bankers acceptance note, which can be endorsed and assigned to vendors as payments for purchases. The notes payable are generally payable at a determinable period, generally three to six months. This short-term notes payable bears no interest and is guaranteed by the bank for its complete face value and usually matures within three to six-month period. The banks usually require the Company to deposit a certain amount of cash at the bank as a guarantee deposit, which is classified on the balance sheet as restricted cash. | |||||||||||||||||||||||||||||||||||||||||
Change in the number of future periods over which the present value of future cash flows is estimated | 12,440 | 9,779 | 5,113 | 22,499 | ||||||||||||||||||||||||||||||||||||||||||
Difference between the previously estimated operating results for the current period and actual results | -8,707 | -2,515 | - | - | (v) | Customer deposits | ||||||||||||||||||||||||||||||||||||||||
Change of derivative liabilities charged to earnings | 1 | 1 | -1 | 9 | ||||||||||||||||||||||||||||||||||||||||||
Exchange rate effect | 7,698 | 6,232 | 1,783 | 3,077 | Customer deposits represent amounts advanced by customers on product orders. The product normally is shipped within one month after receipt of the advance payment, and the related sale is recognized in accordance with the Company’s revenue recognition policy. | |||||||||||||||||||||||||||||||||||||||||
Ending balance | $ | 241,090 | $ | 278,788 | $ | 283,831 | $ | 328,828 | ||||||||||||||||||||||||||||||||||||||
(w) | Deferred lease income | |||||||||||||||||||||||||||||||||||||||||||||
September 30, 2012 | June 30, 2012 | March 31, 2012 | December 31, 2011 | |||||||||||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | To reimburse Longmen Joint Venture for certain construction costs incurred as well as economic losses on suspended production to accommodate the construction of the new iron and steel making facilities on behalf of Shaanxi Steel, in the fourth quarter of 2010, Shaanxi Steel reimbursed Longmen Joint Venture for the value of assets dismantled, various site preparation costs incurred and rent under a 40-year land sub-lease that was entered into by the parties in June 2009 (the "Longmen Sub-lease"), and for the reduced production efficiency caused by the construction. Applying the lease accounting guidance, the Company has concluded that, except for the reimbursement for site preparation costs incurred, the amount of reimbursement should be deferred and recognized as a component of the land that was sub-leased during the construction, to be amortized to income over the remaining term of the 40-year sub-lease. Deferred lease income represents the remaining balance of compensation being deferred. See Note 15 - “Deferred lease income”. | ||||||||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 303,243 | $ | 303,243 | $ | 303,243 | $ | 5,573 | ||||||||||||||||||||||||||||||||||||||
Initial measurement and recognition of the 40% profit sharing liability on April 29, 2011 | - | - | - | 280,857 | (x) | Non-controlling Interest | ||||||||||||||||||||||||||||||||||||||||
Change in fair value of profit sharing liability: | ||||||||||||||||||||||||||||||||||||||||||||||
Change in estimate of future operating profits | - | - | - | - | Non-controlling interest mainly consists of Long Steel Group’s 40% interest in Longmen Joint Venture, Baotou Iron and Steel Group’s 20% interest in Baotou Steel Pipe Joint Venture, an individuals’ 0.9% interest in Yangpu Shengtong, two individuals’ 1.3% interest in Qiu Steel, an individual’s 1% interest in Maoming Hengda, and TME Group’s 40% interest in Tianwu Joint Venture prior to its deconsolidation on November 19, 2013. The non-controlling interests are presented in the consolidated balance sheets, separately from equity attributable to the shareholders of the Company. Non-controlling interests in the results of the Company are presented on the face of the consolidated statement of operations as an allocation of the total income or loss for the year between non-controlling interest holders and the shareholders of the Company. | |||||||||||||||||||||||||||||||||||||||||
Change in discount rate | - | - | - | - | ||||||||||||||||||||||||||||||||||||||||||
Change in the number of future periods over which the present value of future cash flows is estimated | 16,860 | 11,250 | 5,630 | 14,047 | (y) | Earnings (loss) per share | ||||||||||||||||||||||||||||||||||||||||
Difference between the previously estimated operating results for the current period and actual results | - | - | - | - | ||||||||||||||||||||||||||||||||||||||||||
Change of derivative liabilities charged to earnings | 48 | -7 | 13 | -5,563 | The Company has adopted the accounting principles generally accepted in the United States regarding earnings per share (“EPS”), which requires presentation of basic and diluted earnings (loss) per share in conjunction with the disclosure of the methodology used in computing such earnings (loss) per share. | |||||||||||||||||||||||||||||||||||||||||
Exchange rate effect | 2,293 | 2,691 | 2,495 | 8,329 | ||||||||||||||||||||||||||||||||||||||||||
Ending balance | $ | 322,444 | $ | 317,177 | $ | 311,381 | $ | 303,243 | Basic earnings (loss) per share are computed by dividing income available to common stockholders by the weighted average common shares outstanding during the period. Diluted earnings (loss) per share takes into account the potential dilution that could occur if securities or other contracts to issue common stock were exercised and converted into common stock. | |||||||||||||||||||||||||||||||||||||
September 30, 2011 | June 30, 2011 | December 31, 2010 | (z) | Treasury Stock | ||||||||||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 5,573 | $ | 5,573 | $ | 24,390 | Treasury stock consists of shares repurchased by the Company that are no longer outstanding and are held by the Company. Treasury stock is accounted for under the cost method. | |||||||||||||||||||||||||||||||||||||||
Initial measurement and recognition of the 40% profit sharing liability on April 29, 2011 | 280,857 | 280,857 | - | |||||||||||||||||||||||||||||||||||||||||||
Change in fair value of profit sharing liability: | As of December 31, 2013, the Company had repurchased 2,472,306 total shares of its common stock under the share repurchase plan approved by the Board of Directors in December 2010. | |||||||||||||||||||||||||||||||||||||||||||||
Change in estimate of future operating profits | - | - | - | |||||||||||||||||||||||||||||||||||||||||||
Change in discount rate | - | - | - | (aa) | Income taxes | |||||||||||||||||||||||||||||||||||||||||
Change in the number of future periods over which the present value of future cash flows is estimated | 8,743 | 3,336 | - | |||||||||||||||||||||||||||||||||||||||||||
Difference between the previously estimated operating results for the current period and actual results | - | - | - | The Company accounts for income taxes in accordance with the accounting principles generally accepted in the United States for income taxes. Under the asset and liability method as required by this accounting standard, the recognition of deferred income tax liabilities and assets for the expected future tax consequences of temporary differences between the income tax basis and financial reporting basis of assets and liabilities. Provision for income taxes consists of taxes currently due plus deferred taxes. The accounting principles generally accepted in the United States for accounting for uncertainty in income taxes clarify the accounting and disclosure for uncertain tax positions. A tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. | ||||||||||||||||||||||||||||||||||||||||||
Current period interest expense accreted | - | - | 389 | |||||||||||||||||||||||||||||||||||||||||||
Current period payments made for principal and stated interest | - | - | -217 | The charge for taxation is based on the results for the year as adjusted for items, which are non-assessable or disallowed. It is calculated using tax rates that have been enacted or substantively enacted by the balance sheet date. | ||||||||||||||||||||||||||||||||||||||||||
Current period note converted carrying value | - | - | -3,934 | |||||||||||||||||||||||||||||||||||||||||||
Change of derivative liabilities charged to earnings | -5,526 | -5,391 | -15,055 | Deferred tax is accounted for using the balance sheet liability method in respect of temporary differences arising from differences between the carrying amount of assets and liabilities in the consolidated financial statements and the corresponding tax basis used in the computation of assessable tax profit. In principle, deferred tax liabilities are recognized for all taxable temporary differences. Deferred tax assets are recognized to the extent that it is probable that taxable profit will be available against which deductible temporary differences can be utilized. Deferred tax is calculated using tax rates that are expected to apply to the period when the asset is realized or the liability is settled. Deferred tax is charged or credited in the income statement, except when it is related to items credited or charged directly to equity, in which case the deferred tax is also dealt with in equity. | ||||||||||||||||||||||||||||||||||||||||||
Exchange rate effect | 7,124 | 678 | ||||||||||||||||||||||||||||||||||||||||||||
Ending balance | $ | 296,771 | $ | 285,053 | $ | 5,573 | Deferred income taxes are recognized for temporary differences between the tax bases of assets and liabilities and their reported amounts in the financial statements, net operating loss carry forwards and credits, by applying enacted statutory tax rates applicable to future years. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Current income taxes are provided for in accordance with the laws of the relevant taxing authorities. | |||||||||||||||||||||||||||||||||||||||
Except for the derivative liabilities related to the profit sharing liability and to the warrants issued by the Company, which expired on May 13, 2013, the Company did not identify any other assets or liabilities that are required to be presented on the balance sheet at fair value. | An uncertain tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. Penalties and interest incurred related to underpayment of income tax are classified as income tax expense in the period incurred. No significant penalties or interest relating to income taxes have been incurred during the years ended December 31, 2013, and 2012. As of December 31, 2013, the Company’s income tax returns filed for December 31, 2013, 2012 and 2011 remain subject to examination by the taxing authorities. | |||||||||||||||||||||||||||||||||||||||||||||
(i) | Notes receivable | (bb) | Share-based compensation | |||||||||||||||||||||||||||||||||||||||||||
Notes receivable represents trade accounts receivable due from various customers where the customers’ banks have guaranteed the payment. The notes are non-interest bearing and normally paid within three to six months. The Company has the ability to submit request for payment to the customer’s bank earlier than the scheduled payment date, but will incur an interest charge and a processing fee. | The Company accounts for equity instruments issued in exchange for the receipt of goods or services from other than employees in accordance with the accounting standards regarding accounting for stock-based compensation and accounting for equity instruments that are issued to other than employees for acquiring or in conjunction with selling goods or services. Costs are measured at the estimated fair market value of the consideration received or the estimated fair value of the equity instruments issued, whichever is more reliably determinable. The value of equity instruments issued for consideration other than employee services is determined on the earlier of a performance commitment or completion of performance by the provider of goods or services as defined by these accounting standards. In the case of equity instruments issued to consultants, the fair value of the equity instrument is recognized over the term of the consulting agreement. | |||||||||||||||||||||||||||||||||||||||||||||
Restricted notes receivable represents notes receivable pledged as collateral for short-term loans and short-term notes payable issued by banks. | (cc) | Recently issued accounting pronouncements | ||||||||||||||||||||||||||||||||||||||||||||
Interest expenses for early submission request of payment for the three months ended September 30, 2013, 2012, 2011 and 2010 amounted to $9.6 million, $16.3 million, $9.0 million and $5.2 million, respectively, and amounted to $26.9 million, $65.6 million, $20.4 million and $19.8 million, respectively, for the nine months ended September 30, 2013, 2012, 2011 and 2010. | In July 2013, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2013-11, Presentation of Unrecognized Tax Benefit When a Net Operating Loss Carry forward, a Similar Tax Loss, or a Tax Credit Carry forward Exists, an amendment to FASB Accounting Standards Codification ("ASC") Topic 740, Income Taxes ("FASB ASC Topic 740"). This update clarifies that an unrecognized tax benefit, or a portion of an unrecognized tax benefit, should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carry forward, a similar tax loss, or a tax credit carry forward if such settlement is required or expected in the event the uncertain tax position is disallowed. In situations where a net operating loss carry forward, a similar tax loss, or a tax credit carry forward is not available at the reporting date under the tax law of the applicable jurisdiction or the tax law of the jurisdiction does not require, and the entity does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. This ASU is effective prospectively for fiscal years, and interim periods within those years, beginning after December 15, 2013. Retrospective application is permitted. The adoption of this guidance did not have any significant impact on the Company’s consolidated financial statements. | |||||||||||||||||||||||||||||||||||||||||||||
Interest expenses for early submission request of payment for the three months ended June 30, 2013, 2012, 2011 and 2010 amounted to $6.5 million, $28.4 million, $6.2 million and $9.0 million, respectively, and amounted to $17.3 million, $49.3 million, $11.4 million and $14.6 million, respectively, for the six months ended June 30, 2013, 2012, 2011 and 2010. | (dd) | Reclassifications | ||||||||||||||||||||||||||||||||||||||||||||
Interest expenses for early submission request of payment for the three months ended March 31, 2013, 2012 and 2011 amounted to $10.8 million, $20.9 million and $5.2 million, respectively. | Certain prior year amounts have been reclassified to conform to the current year presentation. These reclassifications have no effect on the accompanying consolidated statements of operations and cash flows. | |||||||||||||||||||||||||||||||||||||||||||||
(j) | Plant and equipment, net | |||||||||||||||||||||||||||||||||||||||||||||
Plant and equipment are stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the assets with a 3%-5% residual value. The depreciation expense on assets acquired under capital leases is included with depreciation expense on owned assets. The estimated useful lives are as follows: | ||||||||||||||||||||||||||||||||||||||||||||||
Buildings and Improvements | 10-40 Years | |||||||||||||||||||||||||||||||||||||||||||||
Machinery | 10-30 Years | |||||||||||||||||||||||||||||||||||||||||||||
Machinery and equipment under capital lease | 20 Years | |||||||||||||||||||||||||||||||||||||||||||||
Other equipment | 5 Years | |||||||||||||||||||||||||||||||||||||||||||||
Transportation Equipment | 5 Years | |||||||||||||||||||||||||||||||||||||||||||||
The Company assesses all significant leases for purposes of classification as either operating or capital. At lease inception, if the lease meets any of the four following criteria, the Company will classify it as a capital lease; otherwise it will be treated as an operating lease: a) transfer of ownership to lessee at the end of the lease term, b) bargain purchase option, c) lease term is equal to 75% or more of the estimated economic life of the leased property, d) the present value of the minimum lease payments is 90% or more of the fair value of the leased asset. | ||||||||||||||||||||||||||||||||||||||||||||||
Construction in progress represents the costs incurred in connection with the construction of buildings or new additions to the Company’s plant facilities. No depreciation is provided for construction in progress until such time as the assets are completed and are placed into service, maintenance, repairs and minor renewals are charged directly to expense as incurred. Major additions and betterment to buildings and equipment are capitalized. Interest incurred during construction is capitalized into construction in progress. All other interest is expensed as incurred. | ||||||||||||||||||||||||||||||||||||||||||||||
Long lived assets, including buildings and improvements, equipment and intangible assets are reviewed if events and changes in circumstances indicate that its carrying amount may not be recoverable, to determine whether their carrying value has become impaired. The Company considers assets to be impaired if the carrying value exceeds the future projected cash flows from related operations. The Company also re-evaluates the periods of depreciation and amortization to determine whether subsequent events and circumstances warrant revised estimates of useful lives. | ||||||||||||||||||||||||||||||||||||||||||||||
(j) | Intangible assets | |||||||||||||||||||||||||||||||||||||||||||||
Finite lived intangible assets of the Company are reviewed for impairment if events and circumstances require. The Company considers assets to be impaired if the carrying value exceeds the future projected cash flows from related operations. The Company also re-evaluates the periods of amortization to determine whether subsequent events and circumstances warrant revised estimates of useful lives. As of September 30, 2013, the Company expects these assets to be fully recoverable. | ||||||||||||||||||||||||||||||||||||||||||||||
Land use rights | ||||||||||||||||||||||||||||||||||||||||||||||
All land in the PRC is owned by the government. However, the government grants “land use rights.” General Steel (China) acquired land use rights in 2001 for a total of $3.9 million (RMB 23.7 million). These land use rights are for 50 years and expire in 2050 and 2053. The Company amortizes the land use rights over the twenty-year business term because its business license had a twenty-year term. | ||||||||||||||||||||||||||||||||||||||||||||||
Long Steel Group contributed land use rights for a total amount of $24.2 million (RMB 148.6 million) to the Longmen Joint Venture. The contributed land use rights are for 50 years and expire in 2048 to 2052. | ||||||||||||||||||||||||||||||||||||||||||||||
Maoming Hengda has land use rights amounting to $2.7 million (RMB 16.6 million) for 50 years that expire in 2054. | ||||||||||||||||||||||||||||||||||||||||||||||
Other than the land use rights that General Steel (China) acquired in 2001, the Company amortizes the land use rights over their 50 year term. | ||||||||||||||||||||||||||||||||||||||||||||||
Entity | Original Cost | Expires on | ||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | ||||||||||||||||||||||||||||||||||||||||||||||
General Steel (China) | $ | 3,867 | 2050 & 2053 | |||||||||||||||||||||||||||||||||||||||||||
Longmen Joint Venture | $ | 24,226 | 2048 & 2052 | |||||||||||||||||||||||||||||||||||||||||||
Maoming Hengda | $ | 2,705 | 2054 | |||||||||||||||||||||||||||||||||||||||||||
Mining right | ||||||||||||||||||||||||||||||||||||||||||||||
Mining rights are capitalized at cost when acquired, including amounts associated with any value beyond proven and probable reserves, and amortized to operations as depletion expense using the units-of-production method over the estimated proven and probable recoverable tons. Longmen Joint Venture has iron ore mining right amounting to $2.4 million (RMB 15.0 million), which is amortized over the estimated recoverable reserve of 4.2 million tons. | ||||||||||||||||||||||||||||||||||||||||||||||
(k) | Investments in unconsolidated entities | |||||||||||||||||||||||||||||||||||||||||||||
Entities in which the Company has the ability to exercise significant influence, but does not have a controlling interest, are accounted for using the equity method. Significant influence is generally considered to exist when the Company has an ownership interest in the voting stock between 20% and 50%, and other factors, such as representation on the Board of Directors, voting rights and the impact of commercial arrangements, are considered in determining whether the equity method of accounting is appropriate. The Company accounts for investments with ownership less than 20% using the cost method. | ||||||||||||||||||||||||||||||||||||||||||||||
The table below summarizes Longmen Joint Venture’s investment holdings as of September 30, 2013, June 30, 2013, March 31, 2013, December 31, 2012, September 30, 2012, June 30, 2012, March 31, 2012, December 31, 2011, September 30, 2011, June 30, 2011 and December 31, 2010. | ||||||||||||||||||||||||||||||||||||||||||||||
Unconsolidated | Year | Owned | September 30, | June 30, | March 31, | December 31, | ||||||||||||||||||||||||||||||||||||||||
entities | acquired | % | 2013 | 2013 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||||||||
Net investment | Net investment | Net investment | Net investment | |||||||||||||||||||||||||||||||||||||||||||
(In thousands) | (In thousands) | (In thousands) | (In thousands) | |||||||||||||||||||||||||||||||||||||||||||
Xian Delong Powder Engineering Materials Co., Ltd. | 2007 | 24.1 | $ | 1,161 | $ | 1,106 | $ | 958 | 1,166 | |||||||||||||||||||||||||||||||||||||
Unconsolidated entities | Year | September 30, | Owned | June 30, | Owned | March 31, | Owned | December 31, | Owned | |||||||||||||||||||||||||||||||||||||
acquired | 2012 | % | 2012 | % | 2012 | % | 2011 | % | ||||||||||||||||||||||||||||||||||||||
Net investment | Net investment | Net investment | Net investment | |||||||||||||||||||||||||||||||||||||||||||
(In thousands) | (In thousands) | (In thousands) | (In thousands) | |||||||||||||||||||||||||||||||||||||||||||
Shaanxi Daxigou Mining Co., Ltd | 2004 | $ | - | - | $ | - | - | $ | - | - | $ | 8,304 | 22.1 | |||||||||||||||||||||||||||||||||
Huashan Metallurgical Equipment Co., Ltd. | 2003 | - | - | - | - | - | - | 3,067 | 25 | |||||||||||||||||||||||||||||||||||||
Shaanxi Long Steel Group Baoji Steel Rolling Co., Ltd | 2003 | - | - | - | - | - | - | 428 | 25 | |||||||||||||||||||||||||||||||||||||
Xian Delong Powder Engineering Materials Co., Ltd. | 2007 | 1,027 | 24.1 | 984 | 24.1 | 904 | 24.1 | 1,041 | 27 | |||||||||||||||||||||||||||||||||||||
Total | $ | 1,027 | $ | 984 | $ | 904 | $ | 12,840 | ||||||||||||||||||||||||||||||||||||||
Unconsolidated entities | Year | September 30, | Owned | June 30, | Owned | December 31, | Owned | |||||||||||||||||||||||||||||||||||||||
acquired | 2011 | % | 2011 | % | 2010 | % | ||||||||||||||||||||||||||||||||||||||||
Net investment | Net investment | Net investment | ||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | (In thousands) | (In thousands) | ||||||||||||||||||||||||||||||||||||||||||||
Xi’an Delong Powder Engineering Materials Co., Ltd. | 2007 | $ | 1,014 | 24.1 | $ | 995 | 24.1 | $ | 1,236 | 27 | ||||||||||||||||||||||||||||||||||||
Shaanxi Daxigou Mining Co., Ltd | 2004 | 6,134 | 22.1 | 5,568 | 22.1 | 4,779 | 22.1 | |||||||||||||||||||||||||||||||||||||||
Shaanxi Xinglong Thermoelectric Co., Ltd. | 2004-2007 | - | - | - | - | 8,534 | 20.7 | |||||||||||||||||||||||||||||||||||||||
Huashan Metallurgical Equipment Co., Ltd. | 2003 | 2,998 | 25 | 3,009 | 25 | 2,907 | 25 | |||||||||||||||||||||||||||||||||||||||
Shaanxi Long Steel Group Baoji Steel Rolling Co., Ltd | 2003 | 376 | 23.8 | 235 | 23.8 | - | 25 | |||||||||||||||||||||||||||||||||||||||
Total | $ | 10,522 | $ | 9,807 | $ | 17,456 | ||||||||||||||||||||||||||||||||||||||||
Total investment income in unconsolidated subsidiaries amounted to $0.05 million, $0.04 million, $0.8 million and $0.8 million for the three months ended September 30, 2013, 2012, 2011 and 2010, respectively, and $0.1 million, $0.1 million, $2.8 million and $4.1 million for the nine months ended September 30, 2013, 2012, 2011 and 2010, respectively, which was included in “Loss from equity investments” in the unaudited condensed consolidated statements of operations and comprehensive income (loss). | ||||||||||||||||||||||||||||||||||||||||||||||
Total investment income in unconsolidated subsidiaries amounted to $0.1 million, $0.08 million, $0.4 million and $3.1 million, for the three months ended June 30, 2013, 2012, 2011 and 2010 respectively, and $0.09 million, $0.04 million, $2.0 million and $3.2 million, for the six months ended June 30, 2013, 2012, 2011 and 2010 respectively, which was included in "Loss from equity investments" in the unaudited condensed consolidated statements of operations and comprehensive income (loss). | ||||||||||||||||||||||||||||||||||||||||||||||
Total investment income (loss) in unconsolidated subsidiaries amounted to $(0.04) million, $(0.04) million and $1.7 million for the three months ended March 31, 2013, 2012 and 2011, respectively, which was included in “Loss from equity investments” in the unaudited condensed consolidated statements of operations and comprehensive income (loss). | ||||||||||||||||||||||||||||||||||||||||||||||
On April 30, 2011, a share transfer agreement was signed with the Labor Union Trust of Long Steel Group, transferring Tongxing’s 20.7% share of Shaanxi Xinglong (“Xinglong”) Thermoelectric Co., Ltd to the Labor Union Trust of Long Steel Group for $11.3 million (RMB 72.9 million) on April 30, 2011. As of April 30, 2011, the Company’s investment in Xinglong is approximately $9.8 million and this transaction resulted in a gain of $1.5 million, which is included in “Income from equity investments” in the unaudited condensed consolidated statements of operations and other comprehensive income (loss). | ||||||||||||||||||||||||||||||||||||||||||||||
(l) | Reclassifications | |||||||||||||||||||||||||||||||||||||||||||||
Certain prior year amounts have been reclassified to conform to the current year presentation. These reclassifications have no effect on the accompanying consolidated statements of operations and cash flows. | ||||||||||||||||||||||||||||||||||||||||||||||
Loans_receivable_related_parti
Loans receivable - related parties | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2013 | |||||||||||||||||||||||||||
Loans and Leases Receivable, Related Parties Disclosure [Abstract] | ' | ' | ||||||||||||||||||||||||||
Loans Receivable Related Parties Disclosure [Text Block] | ' | ' | ||||||||||||||||||||||||||
Note 4 – Loans receivable – related parties | Note 4 – Loans receivable – related parties | |||||||||||||||||||||||||||
Loans receivable – related parties represents amounts the Company expects to collect from related parties upon maturity. | Loans receivable – related parties represents amounts the Company expects to collect from related parties upon maturity. | |||||||||||||||||||||||||||
The Company had the following loans receivable – related parties due within one year as of: | The Company had the following loans receivable – related parties due within one year as of: | |||||||||||||||||||||||||||
September 30, 2013 | June 30, 2013 | March 31, 2013 | December 31, 2012 | December 31, | December 31, | December 31, | December 31, | |||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||||
Loans to Long Steel Group; due on demand and non-interest bearing. | $ | - | $ | - | $ | - | $ | 63,319 | (in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||
Loan to Teamlink Investment Co., Ltd; due in December 2013, June 2014, and July 2014; interest rate was 4.75% | 4,540 | 6,000 | 6,000 | 6,000 | Loans to Long Steel Group; due on demand and non-interest bearing. | $ | - | $ | 63,319 | $ | - | $ | - | |||||||||||||||
Total loans receivable – related parties | $ | 4,540 | $ | 6,000 | $ | 6,000 | $ | 69,319 | Loan to Teamlink Investment Co., Ltd; due in June, July and December 2014; interest rate was 4.75% | 4,540 | 6,000 | - | - | |||||||||||||||
Total loans receivable – related parties | $ | 4,540 | $ | 69,319 | $ | - | $ | - | ||||||||||||||||||||
September 30, 2012 | June 30, 2012 | March 31, 2012 | December 31, 2011 | |||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | See Note 21 “Related party transactions and balances” for the nature of the relationship of related parties. | ||||||||||||||||||||||||
Loans to Long Steel Group; due on demand and non-interest bearing. | $ | 63,159 | $ | 63,239 | $ | 63,199 | $ | - | ||||||||||||||||||||
Loan to Teamlink Investment Co., Ltd; due in June 2013; interest rate was 4.75% | 4,000 | 4,000 | - | - | Total interest income for the loans amounted to $0.3 million, $2.3 million, $0 and $0 for the year ended December 31, 2013, 2012, 2011 and 2010, respectively. | |||||||||||||||||||||||
Total loans receivable – related parties | $ | 67,159 | $ | 67,239 | $ | 63,199 | $ | - | ||||||||||||||||||||
The Company had the following long-term loan receivable – related party as of: | ||||||||||||||||||||||||||||
September 30, 2012 | June 30, 2012 | March 31, 2012 | December 31, 2011 | |||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||||||
Loan to Teamlink Investment Co., Ltd.; due in December 2013; interest rate was 4.75% | $ | 2,000 | $ | 2,000 | $ | 2,000 | $ | - | ||||||||||||||||||||
Total long-term loan receivable – related party | $ | 2,000 | $ | 2,000 | $ | 2,000 | $ | - | ||||||||||||||||||||
See Note 21 “Related party transactions and balances” for the nature of the relationship of related parties. | ||||||||||||||||||||||||||||
Total interest income for the loans amounted to $0.1 million, $0, $0 and $0 for the three months ended September 30, 2013, 2012, 2011 and 2010, respectively. | ||||||||||||||||||||||||||||
Total interest income for the loans amounted to $0.2 million, $1.8 million, $0 and $0 for the nine months ended September 30, 2013, 2012, 2011 and 2010, respectively. | ||||||||||||||||||||||||||||
Total interest income for the loans amounted to $0 million, $0.9 million, $0, and $0 for the three months ended June 30, 2013, 2012, 2011 and 2010. | ||||||||||||||||||||||||||||
Total interest income for the loans amounted to $0.1 million, $1.8 million, $0, and $0 for the six months ended June 30, 2013, 2012, 2011 and 2010. | ||||||||||||||||||||||||||||
Total interest income for the loans amounted to $0.1 million, $0.9 million and $0 for the three months ended March 31, 2013, 2012 and 2011. | ||||||||||||||||||||||||||||
Accounts_receivable_including_
Accounts receivable (including related parties), net | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2013 | |||||||||||||||||||||||||||
Receivables [Abstract] | ' | ' | ||||||||||||||||||||||||||
Accounts Receivable [Text Block] | ' | ' | ||||||||||||||||||||||||||
Note 5 – Accounts receivable (including related parties), net | Note 5 – Accounts receivable (including related parties), net | |||||||||||||||||||||||||||
Accounts receivable, including related party receivables, net of allowance for doubtful accounts consists of the following: | Accounts receivable, including related party receivables, net of allowance for doubtful accounts consists of the following: | |||||||||||||||||||||||||||
September 30, | June 30, | March 31, | December 31, | December 31, | December 31, | December 31, | December 31, | |||||||||||||||||||||
2013 | 2013 | 2013 | 2012 | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||
Accounts receivable | $ | 9,729 | $ | 43,499 | $ | 18,489 | $ | 8,062 | Accounts receivable | $ | 5,131 | $ | 8,062 | $ | 14,624 | $ | 18,796 | |||||||||||
Less: allowance for doubtful accounts | -1,152 | -1,226 | -1,335 | -1,367 | Less: allowance for doubtful accounts | -1,053 | -1,367 | -2,023 | -296 | |||||||||||||||||||
Accounts receivable – related parties | 3,252 | 6,212 | 8,231 | 14,966 | Accounts receivable – related parties | 2,942 | 14,966 | 20,593 | 4,160 | |||||||||||||||||||
Net accounts receivable | $ | 11,829 | $ | 48,485 | $ | 25,385 | $ | 21,661 | Net accounts receivable | $ | 7,020 | $ | 21,661 | $ | 33,194 | $ | 22,660 | |||||||||||
September 30, | June 30, | March 31, | December 31, | Movement of allowance for doubtful accounts is as follows: | ||||||||||||||||||||||||
2012 | 2012 | 2012 | 2011 | |||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | December 31, | December 31, | December 31, | December 31, | |||||||||||||||||||||
Accounts receivable | $ | 9,299 | $ | 10,954 | $ | 20,602 | $ | 14,624 | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||
Less: allowance for doubtful accounts | -1,643 | -2,027 | -2,025 | -2,023 | (in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||
Accounts receivable – related parties | 28,346 | 87,373 | 53,056 | 20,593 | Beginning balance | $ | 1,367 | $ | 2,023 | $ | 292 | $ | 490 | |||||||||||||||
Net accounts receivable | $ | 36,002 | $ | 96,300 | $ | 71,633 | $ | 33,194 | Charge to expense | 96 | 433 | 1,972 | 174 | |||||||||||||||
Less: recovery | -449 | -1,109 | -284 | -386 | ||||||||||||||||||||||||
September 30, 2011 | June 30, 2011 | December 31, 2010 | Exchange rate effect | 39 | 20 | 39 | 18 | |||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | Ending balance | $ | 1,053 | $ | 1,367 | $ | 2,023 | $ | 296 | |||||||||||||||||
Accounts receivable | $ | 38,383 | $ | 51,391 | $ | 18,796 | ||||||||||||||||||||||
Less: allowance for doubtful accounts | -21 | -18 | -296 | |||||||||||||||||||||||||
Accounts receivable – related parties | 10,594 | 43,500 | 4,160 | |||||||||||||||||||||||||
Net accounts receivable | $ | 48,956 | $ | 94,873 | $ | 22,660 | ||||||||||||||||||||||
Movement of allowance for doubtful accounts is as follows: | ||||||||||||||||||||||||||||
September 30, | June 30, | March 31, | December 31, | |||||||||||||||||||||||||
2013 | 2013 | 2013 | 2012 | |||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||||||
Beginning balance | $ | 1,367 | $ | 1,367 | $ | 1,367 | $ | 2,023 | ||||||||||||||||||||
Charge to expense | - | - | - | 433 | ||||||||||||||||||||||||
Less: recovery | -249 | -168 | -40 | -1,109 | ||||||||||||||||||||||||
Exchange rate effect | 34 | 27 | 8 | 20 | ||||||||||||||||||||||||
Ending balance | $ | 1,152 | $ | 1,226 | $ | 1,335 | $ | 1,367 | ||||||||||||||||||||
September 30, | June 30, | March 31, | December 31, | |||||||||||||||||||||||||
2012 | 2012 | 2012 | 2011 | |||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||||||
Beginning balance | $ | 2,023 | $ | 2,023 | $ | 2,023 | $ | 292 | ||||||||||||||||||||
Charge to expense | 411 | - | - | 1,972 | ||||||||||||||||||||||||
Less: recovery | -807 | -14 | - | -284 | ||||||||||||||||||||||||
Exchange rate effect | 16 | 18 | 2 | 39 | ||||||||||||||||||||||||
Ending balance | $ | 1,643 | $ | 2,027 | $ | 2,025 | $ | 2,023 | ||||||||||||||||||||
September 30, 2011 | June 30, 2011 | December 31, 2010 | ||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||
Beginning balance | $ | 296 | $ | 296 | $ | 490 | ||||||||||||||||||||||
Charge to expense | - | - | 174 | |||||||||||||||||||||||||
Less: recovery | -280 | -280 | -386 | |||||||||||||||||||||||||
Exchange rate effect | 5 | 2 | 18 | |||||||||||||||||||||||||
Ending balance | $ | 21 | $ | 18 | $ | 296 | ||||||||||||||||||||||
Inventories
Inventories | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2013 | |||||||||||||||||||||||||||
Inventory Disclosure [Abstract] | ' | ' | ||||||||||||||||||||||||||
Inventory Disclosure [Text Block] | ' | ' | ||||||||||||||||||||||||||
Note 6 – Inventories | Note 6 – Inventories | |||||||||||||||||||||||||||
Inventories consist of the following: | Inventories consist of the following: | |||||||||||||||||||||||||||
September 30, | June 30, | March 31, | December 31, | December 31, | December 31, | December 31, | December 31, | |||||||||||||||||||||
2013 | 2013 | 2013 | 2012 | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||
Supplies | $ | 23,302 | $ | 23,768 | $ | 23,609 | $ | 23,123 | Supplies | $ | 21,040 | $ | 23,123 | $ | 20,869 | $ | 13,733 | |||||||||||
Raw materials | 138,951 | 98,312 | 141,756 | 141,503 | Raw materials | 164,301 | 141,503 | 279,041 | 381,178 | |||||||||||||||||||
Finished goods | 22,527 | 51,980 | 96,030 | 57,630 | Finished goods | 42,977 | 57,630 | 35,962 | 59,813 | |||||||||||||||||||
Less: allowance for inventory valuation | -7,397 | -13,905 | -13,465 | -9,585 | Less: allowance for inventory valuation | -15,397 | -9,585 | -38,143 | -1,088 | |||||||||||||||||||
Total inventories | $ | 177,383 | $ | 160,155 | $ | 247,930 | $ | 212,671 | Total inventories | $ | 212,921 | $ | 212,671 | $ | 297,729 | $ | 453,636 | |||||||||||
September 30, | June 30, | March 31, | December 31, | Raw materials consist primarily of iron ore and coke at Longmen Joint Venture. The cost of finished goods includes direct costs of raw materials as well as direct labor used in production. Indirect production costs at normal capacity such as utilities and indirect labor related to production such as assembling, shipping and handling costs for purchasing are also included in the cost of inventory. | ||||||||||||||||||||||||
2012 | 2012 | 2012 | 2011 | |||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | The Company values its inventory at the lower of cost or market, determined on a weighted average method, or net realizable value. As of December 31, 2013, 2012, 2011 and 2010, the Company had provided allowance for inventory valuation in the amounts of $15.4 million, $9.6 million, $37.5 million and $1.1 million, respectively. | ||||||||||||||||||||||||
Supplies | $ | 23,403 | $ | 24,428 | $ | 22,035 | $ | 20,869 | ||||||||||||||||||||
Raw materials | 132,626 | 232,418 | 276,931 | 279,041 | Movement of allowance for inventory valuation is as follows: | |||||||||||||||||||||||
Finished goods | 83,456 | 83,366 | 74,528 | 35,962 | ||||||||||||||||||||||||
Less: allowance for inventory valuation | -13,995 | -16,911 | -13,430 | -38,143 | December 31, | December 31, | December 31, | December 31, | ||||||||||||||||||||
Total inventories | $ | 225,490 | $ | 323,301 | $ | 360,064 | $ | 297,729 | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||||||
September 30, 2011 | June 30, 2011 | December 31, 2010 | Beginning balance | $ | 9,585 | $ | 38,143 | $ | 1,088 | $ | - | |||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | Addition | 15,194 | 9,582 | 37,512 | 1,061 | |||||||||||||||||||||
Supplies | $ | 41,103 | $ | 22,578 | $ | 13,733 | Less: write-off | -9,757 | -38,519 | -1,108 | - | |||||||||||||||||
Raw materials | 294,518 | 329,763 | 381,178 | Exchange rate effect | 375 | 379 | 651 | 27 | ||||||||||||||||||||
Finished goods | 99,220 | 122,148 | 59,813 | Ending balance | $ | 15,397 | $ | 9,585 | $ | 38,143 | $ | 1,088 | ||||||||||||||||
Less: allowance for inventory valuation | -2,697 | -1,285 | -1,088 | |||||||||||||||||||||||||
Total inventories | $ | 432,144 | $ | 473,204 | $ | 453,636 | ||||||||||||||||||||||
Raw materials consist primarily of iron ore and coke at Longmen Joint Venture. The cost of finished goods includes direct costs of raw materials as well as direct labor used in production. Indirect production costs at normal capacity such as utilities and indirect labor related to production such as assembling, shipping and handling costs for purchasing are also included in the cost of inventory. | ||||||||||||||||||||||||||||
The Company values its inventory at the lower of cost or market, determined on a weighted average method, or net realizable value. As of September 30, 2013, June 30, 2013, March 31, 2013, December 31, 2013, September 30, 2012, June 30, 2012, March 31, 2012, December 31, 2012, September 30, 2011, June 30, 2011 and December 31, 2010, the Company had provided allowance for inventory valuation in the amounts of $7.3 million, $13.8 million, $13.4 million, $9.6 million, $14.0 million, $16.9 million, $13.4 million, $38.1 million, $2.7 million, $1.3 million and $1.1 million, respectively. | ||||||||||||||||||||||||||||
Movement of allowance for inventory valuation is as follows: | ||||||||||||||||||||||||||||
September 30, | June 30, | March 31, | December 31, | |||||||||||||||||||||||||
2013 | 2013 | 2013 | 2012 | |||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||||||
Beginning balance | $ | 9,585 | $ | 9,585 | $ | 9,585 | $ | 38,143 | ||||||||||||||||||||
Addition | 7,305 | 13,757 | 13,441 | 9,582 | ||||||||||||||||||||||||
Less: write-off | -9,722 | -9,681 | -9,623 | -38,519 | ||||||||||||||||||||||||
Exchange rate effect | 229 | 244 | 62 | 379 | ||||||||||||||||||||||||
Ending balance | $ | 7,397 | $ | 13,905 | $ | 13,465 | $ | 9,585 | ||||||||||||||||||||
September 30, | June 30, | March 31, | December 31, | |||||||||||||||||||||||||
2012 | 2012 | 2012 | 2011 | |||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||||||
Beginning balance | $ | 38,143 | $ | 38,143 | $ | 38,143 | $ | - | ||||||||||||||||||||
Addition | 14,015 | 16,928 | 13,464 | 37,512 | ||||||||||||||||||||||||
Less: write-off | -38,488 | -38,522 | -38,556 | - | ||||||||||||||||||||||||
Exchange rate effect | 325 | 362 | 379 | 631 | ||||||||||||||||||||||||
Ending balance | $ | 13,995 | $ | 16,911 | $ | 13,430 | $ | 38,143 | ||||||||||||||||||||
September 30, 2011 | June 30, 2011 | December 31, 2010 | ||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||
Beginning balance | $ | 1,088 | $ | 1,088 | $ | - | ||||||||||||||||||||||
Addition | 2,656 | 1,266 | 1,061 | |||||||||||||||||||||||||
Less: write-off | -1,301 | -1,266 | - | |||||||||||||||||||||||||
Exchange rate effect | 254 | 197 | 27 | |||||||||||||||||||||||||
Ending balance | $ | 2,697 | $ | 1,285 | $ | 1,088 | ||||||||||||||||||||||
Advances_on_inventory_purchase
Advances on inventory purchases | 9 Months Ended | 12 Months Ended |
Sep. 30, 2013 | Dec. 31, 2013 | |
Inventory Disclosure [Abstract] | ' | ' |
Advances On Inventory Purchase [Text Block] | ' | ' |
Note 7 – Advances on inventory purchases | Note 7 – Advances on inventory purchases | |
Advances on inventory purchases are monies deposited or advanced to outside vendors or related parties on future inventory purchases. Most of the Company’s vendors require a certain amount of money to be deposited with them as a guarantee that the Company will complete its purchases on a timely basis. | Advances on inventory purchases are monies deposited or advanced to outside vendors or related parties on future inventory purchases. Most of the Company’s vendors require a certain amount of money to be deposited with them as a guarantee that the Company will complete its purchases on a timely basis. | |
This amount is refundable and bears no interest. The Company has legally binding contracts with its vendors, which require the deposit to be returned to the Company or netted against accounts payable due to its vendors to the extent there are unpaid balances when the contract ends. The inventory is normally delivered within one month after the monies have been advanced. The total outstanding amount, including advances to related parties, was $109.5 million, $60.3 million, $62.6 million, $126.1 million, $160.9 million, $150.6 million, $174.2 million, $83.8 million, $187.9 million, $63.8 million and $30.8 million as of September 30, 2013, June 30, 2013, March 31, 2013, December 31, 2013, September 30, 2012, June 30, 2012, March 31, 2012, December 31, 2012, September 30, 2011, June 30, 2011 and December 31, 2010, respectively. | This amount is refundable and bears no interest. The Company has legally binding contracts with its vendors, which require the deposit to be returned to the Company or netted against accounts payable due to its vendors to the extent there are unpaid balances when the contract ends. The inventory is normally delivered within one month after the monies have been advanced. The total outstanding amount, including advances to related parties, was $127.9 million, $126.1 million, $83.8 million and $30.8 million as of December 31, 2013, 2012, 2011 and 2010, respectively. | |
Plant_and_equipment_net
Plant and equipment, net | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2013 | |||||||||||||||||||||||||||
Property, Plant and Equipment [Abstract] | ' | ' | ||||||||||||||||||||||||||
Property, Plant and Equipment Disclosure [Text Block] | ' | ' | ||||||||||||||||||||||||||
Note 8 – Plant and equipment, net | Note 8 – Plant and equipment, net | |||||||||||||||||||||||||||
Plant and equipment consist of the following: | Plant and equipment consist of the following: | |||||||||||||||||||||||||||
September 30, | June 30, | March 31, | December 31, | December 31, | December 31, | December 31, | December 31, | |||||||||||||||||||||
2013 | 2013 | 2013 | 2012 | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||
Buildings and improvements | $ | 253,621 | $ | 221,645 | $ | 216,924 | $ | 214,661 | Buildings and improvements | $ | 274,402 | $ | 214,661 | $ | 183,343 | $ | 116,294 | |||||||||||
Machinery | 616,813 | 591,160 | 579,267 | 573,572 | Machinery | 667,093 | 573,572 | 621,463 | 502,958 | |||||||||||||||||||
Machinery under capital lease | 603,248 | 599,547 | 590,665 | 587,334 | Machinery under capital lease | 623,895 | 587,334 | 581,413 | - | |||||||||||||||||||
Transportation and other equipment | 22,085 | 21,840 | 21,197 | 20,274 | Transportation and other equipment | 22,991 | 20,274 | 18,132 | 13,253 | |||||||||||||||||||
Construction in progress | 58,111 | 60,380 | 19,232 | 4,645 | Construction in progress | 11,412 | 4,645 | 8,203 | 65,749 | |||||||||||||||||||
Subtotal | 1,553,878 | 1,494,572 | 1,427,285 | 1,400,486 | Subtotal | 1,599,793 | 1,400,486 | 1,412,554 | 698,254 | |||||||||||||||||||
Less: accumulated depreciation | -303,336 | -280,014 | -254,967 | -232,650 | Less: accumulated depreciation | -327,886 | -232,650 | -155,318 | -95,642 | |||||||||||||||||||
Total | $ | 1,250,542 | $ | 1,214,558 | $ | 1,172,318 | $ | 1,167,836 | Total | $ | 1,271,907 | $ | 1,167,836 | $ | 1,257,236 | $ | 602,612 | |||||||||||
September 30, | June 30, | March 31, | December 31, | Construction in progress consisted of the following as of December 31, 2013: | ||||||||||||||||||||||||
2012 | 2012 | 2012 | 2011 | |||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | Estimated | ||||||||||||||||||||||||
Buildings and improvements | $ | 186,986 | $ | 186,462 | $ | 182,925 | $ | 181,644 | additional cost to | |||||||||||||||||||
Machinery | 615,099 | 607,181 | 603,931 | 623,162 | Construction in progress | Value | Completion | complete | ||||||||||||||||||||
Machinery under capital lease | 585,854 | 586,594 | 586,224 | 581,413 | description | (In thousands) | date | (In thousands) | ||||||||||||||||||||
Transportation and other equipment | 18,893 | 18,991 | 18,431 | 18,132 | Iron-making system dust removing equipment | $ | 141 | Jan-14 | $ | 1,381 | ||||||||||||||||||
Construction in progress | 3,212 | 9,375 | 9,035 | 8,203 | Factory wall repair | 945 | Mar-14 | 105 | ||||||||||||||||||||
Subtotal | 1,410,044 | 1,408,603 | 1,400,546 | 1,412,554 | Equipment updates | 843 | Jan-14 | 2,725 | ||||||||||||||||||||
Less: accumulated depreciation | -212,572 | -192,110 | -171,774 | -155,318 | Sintering machine construction | 257 | Nov-14 | 143,525 | ||||||||||||||||||||
Total | $ | 1,197,472 | $ | 1,216,493 | $ | 1,228,772 | $ | 1,257,236 | #5 blast furnace construction | 1,907 | Dec-14 | 176,526 | ||||||||||||||||
Electrical substation construction | 4 | Aug-14 | 24,229 | |||||||||||||||||||||||||
September 30, 2011 | June 30, 2011 | December 31, 2010 | Reconstruction of miscellaneous factory buildings | 4,428 | Jun-14 | 4,533 | ||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | Project materials | 2,156 | - | |||||||||||||||||||||||
Buildings and improvements | $ | 173,838 | $ | 126,070 | $ | 116,294 | Others | 731 | - | |||||||||||||||||||
Machinery | 548,662 | 515,350 | 502,958 | Total | $ | 11,412 | $ | 353,024 | ||||||||||||||||||||
Machinery under capital lease | 579,192 | 572,531 | - | |||||||||||||||||||||||||
Transportation and other equipment | 17,178 | 15,483 | 13,253 | The Company is obligated under a capital lease for the iron and steel making facilities, including one sintering machine, two converters, two blast furnaces and some auxiliary systems that expire on April 30, 2031. During 2013, Longmen Joint Venture entered into a number of capital lease agreements for energy-saving equipment installed throughout the steel production line. The Company is obligated under the capital lease for the equipment upon the confirmation of the energy-saving rate between the Company and its vendors. | ||||||||||||||||||||||||
Construction in progress | 31,115 | 82,051 | 65,749 | |||||||||||||||||||||||||
Subtotal | 1,349,985 | 1,311,485 | 698,254 | The carrying value of assets acquired under the capital lease consists of the following: | ||||||||||||||||||||||||
Less: accumulated depreciation | -136,186 | -118,989 | -95,642 | |||||||||||||||||||||||||
Total | $ | 1,213,799 | $ | 1,192,496 | $ | 602,612 | December 31, | December 31, | December 31, | December 31, | ||||||||||||||||||
2013 | 2012 | 2011 | 2010 | |||||||||||||||||||||||||
Construction in progress consisted of the following as of September 30, 2013: | (in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||
Machinery | $ | 623,895 | $ | 587,334 | $ | 581,413 | $ | - | ||||||||||||||||||||
Construction in progress | Value | Completion | Less: accumulated depreciation | -77,086 | -46,497 | -18,411 | - | |||||||||||||||||||||
description | (In thousands) | date | Carrying value of leased assets | $ | 546,809 | $ | 540,837 | $ | 563,002 | $ | - | |||||||||||||||||
1.2 million tons high-strength steel production line | 32,268 | Dec-13 | ||||||||||||||||||||||||||
Iron-making system dust removing equipment | 3,307 | Nov-13 | The Company assessed the recoverability of all of its remaining long-lived assets at December 31, 2012, and the sum of the discounted future cash flows expected to result from the long-lived assets and their disposition was less than the carrying value by $20.2 million (RMB 127.2 million), which was impaired and included in the selling, general and administrative expenses for the for the year ended December 31, 2012. The discounted cash flows were determined using certain expected changes to the current operational assumptions. If those expectations are not met, the Company may be required to record additional impairment charges in future periods. | |||||||||||||||||||||||||
Drainage system | 499 | Nov-13 | ||||||||||||||||||||||||||
Factory wall repair | 241 | Nov-13 | The Company assessed the recoverability of all of its remaining long lived assets at December 31, 2013 and such assessment did not result in any other impairment charges for the year ended December 31, 2013. | |||||||||||||||||||||||||
Gas pipe repair | 121 | Nov-13 | ||||||||||||||||||||||||||
Office buildings | 1,336 | Nov-13 | The Company determined that the construction in progress in Maoming Hengda was impaired as of June 30, 2010. For the year ended December 31, 2010, $1.7 million construction-in-progress has been written off and included in selling, general and administrative expenses. | |||||||||||||||||||||||||
Equipment updates | 7,381 | Nov-13 | ||||||||||||||||||||||||||
#5 blast furnace construction | 208 | Sep-14 | Depreciation expense for the year ended December 31, 2013, 2012, 2011 and 2010 amounted to $87.9 million, $82.5 million, $56.4 million and $40.1 million, respectively. These amounts include depreciation of assets held under capital leases for the years ended December 31, 2013, 2012, 2011 and 2010, which amounted to $28.7 million, $27.9 million, $18.1 million and $0, respectively. | |||||||||||||||||||||||||
Reconstruction of miscellaneous factory buildings | 690 | Jan-14 | ||||||||||||||||||||||||||
Project materials | 2,154 | |||||||||||||||||||||||||||
Others | 9,906 | |||||||||||||||||||||||||||
Total | $ | 58,111 | ||||||||||||||||||||||||||
The Group is obligated under a capital lease for the iron and steel making facilities, including one sintering machine, two converters, two blast furnaces and some auxiliary systems that expire on April 30, 2031. The carrying value of assets acquired under the capital lease consists of the following: | ||||||||||||||||||||||||||||
September 30, | June 30, | March 31, | December 31, | |||||||||||||||||||||||||
2013 | 2013 | 2013 | 2012 | |||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||||||
Machinery | $ | 603,248 | $ | 599,547 | $ | 590,665 | $ | 587,334 | ||||||||||||||||||||
Less: accumulated depreciation | -69,248 | -61,703 | -53,775 | -46,497 | ||||||||||||||||||||||||
Carrying value of leased assets | $ | 534,000 | $ | 537,844 | $ | 536,890 | $ | 540,837 | ||||||||||||||||||||
September 30, | June 30, | March 31, | December 31, | |||||||||||||||||||||||||
2012 | 2012 | 2012 | 2011 | |||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||||||
Machinery | $ | 585,854 | $ | 586,594 | $ | 586,224 | $ | 581,413 | ||||||||||||||||||||
Less: accumulated depreciation | -39,423 | -32,507 | -25,525 | -18,411 | ||||||||||||||||||||||||
Carrying value of leased assets | $ | 546,431 | $ | 554,087 | $ | 560,699 | $ | 563,002 | ||||||||||||||||||||
September 30, 2011 | June 30, 2011 | December 31, 2010 | ||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||
Machinery | $ | 579,192 | $ | 572,531 | $ | - | ||||||||||||||||||||||
Less: accumulated depreciation | -11,463 | -4,533 | - | |||||||||||||||||||||||||
Carrying value of leased assets | $ | 567,729 | $ | 567,998 | $ | - | ||||||||||||||||||||||
The Company assessed the recoverability of all of its remaining long-lived assets at December 31, 2012, and the sum of the discounted future cash flows expected to result from the long-lived assets and their disposition was less than the carrying value by $20.2 million (RMB 127.2 million), which was impaired and included in the selling, general and administrative expenses for the year ended December 31, 2012. The discounted cash flows were determined using certain expected changes to the current operational assumptions. If those expectations are not met, the Company may be required to record additional impairment charges in future periods. | ||||||||||||||||||||||||||||
The Company assessed the recoverability of all of its remaining long lived assets at September 30, 2013 and such assessment did not result in any other impairment charges for the three and nine months ended September 30, 2013. | ||||||||||||||||||||||||||||
Depreciation expense for the three months ended September 30, 2013, 2012, 2011 and 2010 amounted to $21.6 million, $20.8 million, $18.1 million and $11.6 million, respectively, and for the nine months ended September 30, 2013, 2012, 2011 and 2010, amounted to $64.1 million, $61.4 million, $39.6 million and $30.4 million, respectively. These amounts include depreciation of assets held under capital leases for the three months ended September 30, 2013, 2012, 2011 and 2010, which amounted to $7.1 million, $7.0 million, $6.8 million and $0, respectively, and for the nine months ended September 30, 2013, 2012, 2011 and 2010, amounted to $21.2, $20.9 million, $11.3 million and $0, respectively. | ||||||||||||||||||||||||||||
Depreciation expense for the three months ended June 30, 2013, 2012, 2011 and 2010 amounted to $21.4 million, $20.5 million, $12.8 million and $9.5 million, respectively, and for the six months ended June 30, 2013, 2012, 2011 and 2010 amounted to $42.5, $40.6 million, $21.5 million and $18.8 million, respectively. These amounts include depreciation of assets held under capital leases for the three months ended June 30, 2013, 2012, 2011 and 2010, which amounted to $7.1 million, $6.9 million, $4.5 million and $0, respectively, and for the six months ended June 30, 2013, 2012, amounted to $14.1, $13.9 million, $4.5 million and $0, respectively. | ||||||||||||||||||||||||||||
Depreciation expenses for the three months ended March 31, 2013, 2012 and 2011 amounted to $21.1 million, $20.1 million and $8.7 million, respectively. These amounts include depreciation of assets held under capital leases for the three months ended March 31, 2013, 2012 and 2011, which amounted to $7.0 million, $7.0 million and $0, respectively. | ||||||||||||||||||||||||||||
Intangible_assets_net
Intangible assets, net | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2013 | |||||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ' | ||||||||||||||||||||||||||
Intangible Assets Disclosure [Text Block] | ' | ' | ||||||||||||||||||||||||||
Note 9 – Intangible assets, net | Note 9 – Intangible assets, net | |||||||||||||||||||||||||||
Intangible assets consist of the following: | Intangible assets consist of the following: | |||||||||||||||||||||||||||
September 30, | June 30, | March 31, | December 31, | December 31, | December 31, | December 31, | December 31, | |||||||||||||||||||||
2013 | 2013 | 2013 | 2012 | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||
Land use rights | $ | 30,798 | $ | 30,609 | $ | 30,156 | $ | 29,986 | Land use rights | $ | 30,884 | $ | 29,986 | $ | 29,685 | $ | 28,462 | |||||||||||
Mining right | 2,448 | 2,433 | 2,397 | 2,384 | Mining right | 2,459 | 2,384 | 2,338 | - | |||||||||||||||||||
Software | 742 | 738 | 727 | 692 | Software | 743 | 692 | 685 | 660 | |||||||||||||||||||
Subtotal | 33,988 | 33,780 | 33,280 | 33,062 | Subtotal | 34,086 | 33,062 | 32,708 | 29,122 | |||||||||||||||||||
Less: | Less: | |||||||||||||||||||||||||||
Accumulated amortization – land use rights | -8,387 | -8,130 | -7,786 | -7,577 | Accumulated amortization – land use rights | -8,498 | -7,577 | -6,442 | -5,316 | |||||||||||||||||||
Accumulated amortization – mining right | -1,144 | -1,096 | -1,057 | -993 | Accumulated amortization – mining right | -1,320 | -993 | -822 | - | |||||||||||||||||||
Accumulated amortization – software | -529 | -496 | -461 | -426 | Accumulated amortization – software | -561 | -426 | -301 | -134 | |||||||||||||||||||
Subtotal | -10,060 | -9,722 | -9,304 | -8,996 | Subtotal | -10,379 | -8,996 | -7,565 | -5,450 | |||||||||||||||||||
Intangible assets, net | $ | 23,928 | $ | 24,058 | $ | 23,976 | $ | 24,066 | Intangible assets, net | $ | 23,707 | $ | 24,066 | $ | 25,143 | $ | 23,672 | |||||||||||
September 30, | June 30, | March 31, | December 31, | The gross amount of the intangible assets amounted to $34.1 million, $33.1 million, $32.7 million and $29.1 million as of December 31, 2013, 2012, 2011 and 2010, respectively. The remaining weighted average amortization period is 33.5 years as of December 31, 2013. | ||||||||||||||||||||||||
2012 | 2012 | 2012 | 2011 | |||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | Total amortization expense for the year ended December 31, 2013, 2012, 2011 and 2010 amounted to $0.8 million, $1.2 million, $1.1 million and $1.1 million, respectively. | ||||||||||||||||||||||||
Land use rights | $ | 29,917 | $ | 29,954 | $ | 29,936 | $ | 29,685 | ||||||||||||||||||||
Mining right | 2,350 | 2,351 | 2,326 | 2,338 | Total depletion expense for the year ended December 31, 2013, 2012, 2011 and 2010 amounted to $0.3 million, $0.2 million, $0.8 million and $0, respectively. | |||||||||||||||||||||||
Software | 688 | 689 | 689 | 685 | ||||||||||||||||||||||||
Subtotal | 32,955 | 32,994 | 32,951 | 32,708 | The estimated aggregate amortization and depletion expenses for each of the five succeeding years is as follows: | |||||||||||||||||||||||
Less: | ||||||||||||||||||||||||||||
Accumulated amortization – land use rights | -7,325 | -7,075 | -6,811 | -6,442 | Year ending | Estimated | Gross carrying | |||||||||||||||||||||
Accumulated amortization – mining right | -999 | -926 | -893 | -822 | amortization and | amount | ||||||||||||||||||||||
Accumulated amortization – software | -404 | -370 | -339 | -301 | depletion expenses | |||||||||||||||||||||||
Subtotal | -8,728 | -8,371 | -8,043 | -7,565 | (in thousands) | (in thousands) | ||||||||||||||||||||||
Intangible assets, net | $ | 24,227 | $ | 24,623 | $ | 24,908 | $ | 25,143 | 31-Dec-14 | $ | 1,086 | 22,621 | ||||||||||||||||
31-Dec-15 | 1,086 | 21,535 | ||||||||||||||||||||||||||
September 30, 2011 | June 30, 2011 | December 31, 2010 | 31-Dec-16 | 1,086 | 20,449 | |||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | 31-Dec-17 | 1,086 | 19,363 | |||||||||||||||||||||||
Land use rights | $ | 29,571 | $ | 29,231 | $ | 28,462 | 31-Dec-18 | 1,086 | 18,277 | |||||||||||||||||||
Software | 683 | 675 | 660 | Thereafter | 18,277 | - | ||||||||||||||||||||||
Subtotal | 30,254 | 29,906 | 29,122 | Total | $ | 23,707 | ||||||||||||||||||||||
Less: | ||||||||||||||||||||||||||||
Accumulated amortization – land use rights | -6,162 | -5,831 | -5,316 | |||||||||||||||||||||||||
Accumulated amortization – software | -268 | -221 | -134 | |||||||||||||||||||||||||
Subtotal | -6,430 | -6,052 | -5,450 | |||||||||||||||||||||||||
Intangible assets, net | $ | 23,824 | $ | 23,854 | $ | 23,672 | ||||||||||||||||||||||
The gross amount of the intangible assets amounted to $34.0 million, $33.8 million, $33.3 million, $33.1 million, $33.0 million, $33.0 million, $33.0 million, $32.7 million, $30.3 million, $29.9 million and $29.1 million as of September 30, 2013, June 30, 2013, March 31, 2013, December 31, 2012, September 30, 2012, June 30, 2012, March 31, 2012, December 31, 2011, September 30, 2011, June 30, 2011 and December 31, 2010, respectively. The remaining weighted average amortization period is 33.7 years as of September 30, 2013. | ||||||||||||||||||||||||||||
Total amortization expense for the three months ended September 30, 2013, 2012, 2011 and 2010 amounted to $0.2 million, $0.3 million, $0.3 million and $0.3 million, respectively, and for the nine months ended September 30, 2013, 2012, 2011 and 2010, amounted to $0.7 million, $0.9 million, $0.8 million and $0.8 million, respectively. | ||||||||||||||||||||||||||||
Total amortization expense for the three months ended June 30, 2013, 2012, 2011 and 2010 amounted to $0.3 million, $0.3 million, $0.3 million and $0.2 million, respectively, and for the six months ended June 30, 2013, 2012, 2011 and 2010, amounted to $0.5 million, $0.6 million, $0.5 million and $0.5 million, respectively. | ||||||||||||||||||||||||||||
Total amortization expense for the three months ended March 31, 2013, 2012 and 2011 amounted to $0.2 million, $0.3 million and $0.2 million, respectively. | ||||||||||||||||||||||||||||
Total depletion expense for the three months ended September 30, 2013, 2012, 2011 and 2010 amounted to $0.02 million, $0.1 million, $0 and $0, respectively, and for the nine months ended September 30, 2013, 2012, 2011 and 2010, amounted to $0.1 million, $0.2 million, $0 and $0, respectively. | ||||||||||||||||||||||||||||
Total depletion expense for the three months ended June 30, 2013, 2012, 2011 and 2010 amounted to $0.02 million, $0.04 million, $0 and $0, respectively, and for the six months ended June 30, 2013, 2012, 2011 and 2010, amounted to $0.1 million and $0.1 million, $0 and $0, respectively. | ||||||||||||||||||||||||||||
Total depletion expense for the three months ended March 31, 2013, 2012 and 2011 amounted to $0.1 million, $0.06 million and $0, respectively. | ||||||||||||||||||||||||||||
The estimated aggregate amortization and depletion expenses for each of the five succeeding years is as follows: | ||||||||||||||||||||||||||||
Year ending | Estimated | Gross carrying | ||||||||||||||||||||||||||
amortization and | amount | |||||||||||||||||||||||||||
depletion expenses | ||||||||||||||||||||||||||||
(in thousands) | (in thousands) | |||||||||||||||||||||||||||
30-Jun-14 | $ | 1,082 | 22,846 | |||||||||||||||||||||||||
30-Jun-15 | 1,082 | 21,764 | ||||||||||||||||||||||||||
30-Jun-16 | 1,082 | 20,682 | ||||||||||||||||||||||||||
30-Jun-17 | 1,082 | 19,600 | ||||||||||||||||||||||||||
30-Jun-18 | 1,082 | 18,518 | ||||||||||||||||||||||||||
Thereafter | 18,518 | - | ||||||||||||||||||||||||||
Total | $ | 23,928 | ||||||||||||||||||||||||||
Debt
Debt | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2013 | |||||||||||||||||||||||||||
Debt Disclosure [Abstract] | ' | ' | ||||||||||||||||||||||||||
Debt Disclosure [Text Block] | ' | ' | ||||||||||||||||||||||||||
Note 10 – Debt | Note 10 – Debt | |||||||||||||||||||||||||||
Short-term notes payable | Short-term notes payable | |||||||||||||||||||||||||||
Short-term notes payable are lines of credit extended by banks. Banks in turn issue the Company a bank acceptance note, which can be endorsed and assigned to vendors as payments for purchases. The notes payable are generally payable within three to six months. This short-term note payable is guaranteed by the bank for its complete face value. The banks do not charge interest on these notes, but usually charge a transaction fee of 0.05% of the notes value. In addition, the banks usually require the Company to deposit either a certain amount of cash at the bank as a guarantee deposit, which is classified on the balance sheet as restricted cash, or provide notes receivable as security, which are classified on the balance sheet as restricted notes receivable. Restricted cash as a guarantee for the notes payable amounted to $405.8 million, $380.6 million, $269.4 million, $322.7 million, $418.3 million, $407.4 million, $440.0 million, $363.3 million, $161.7 million, $182.8 million and $167.7 million as of September 30, 2013, June 30, 2013, March 31, 2013, December 31, 2013, September 30, 2012, June 30, 2012, March 31, 2012, December 31, 2012, September 30, 2011, June 30, 2011 and December 31, 2010, respectively. Restricted notes receivable as a guarantee for the notes payable amounted to $237.2 million, $98.3 million, $248.4 million, $345.8 million, $67.6 million, $115.7 million, $401.4 million, $451.1 million, $248.9 million, $55.7 million and $159.3 million as of September 30, 2013, June 30, 2013, March 31, 2013, December 31, 2013, September 30, 2012, June 30, 2012, March 31, 2012, December 31, 2012, September 30, 2011, June 30, 2011 and December 31, 2010, respectively. | Short-term notes payable are lines of credit extended by banks. Banks in turn issue the Company a bank acceptance note, which can be endorsed and assigned to vendors as payments for purchases. The notes payable are generally payable within three to six months. This short-term note payable is guaranteed by the bank for its complete face value. The banks do not charge interest on these notes, but usually charge a transaction fee of 0.05% of the notes value. In addition, the banks usually require the Company to deposit either a certain amount of cash at the bank as a guarantee deposit, which is classified on the balance sheet as restricted cash, or provide notes receivable as security, which are classified on the balance sheet as restricted notes receivable. Restricted cash as a guarantee for the notes payable amounted to $399.4 million, $322.7 million, $363.3 million and $167.7 million as of December 31, 2013, 2012, 2011 and 2010, respectively. Restricted notes receivable as a guarantee for the notes payable amounted to $231.7 million, $345.8 million, $451.1 million and $159.3 million as of December 31, 2013, 2012, 2011 and 2010, respectively. | |||||||||||||||||||||||||||
The Company had the following short-term notes payable as of: | The Company had the following short-term notes payable as of: | |||||||||||||||||||||||||||
September 30, | June 30, | March 31, | December 31, | December 31, | December 31, | December 31, | December 31, | |||||||||||||||||||||
2013 | 2013 | 2013 | 2012 | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||
General Steel (China): Notes payable to various banks in China, due various dates from October 2013 to March 2014. Restricted cash required of $24.5 million, $14.8 million, $0.2 million and $6.3 million as of September 30, 2013 and December 31, 2012as of September 30, 2013, June 30, 2013, March 31, 2013 and December 31, 2012, respectively; guaranteed by third parties. These notes payable were either repaid or renewed subsequently on the due dates. | $ | 37,490 | $ | 21,287 | $ | 223 | $ | 12,696 | General Steel (China): Notes payable to various banks in China, due various dates from January to April 2014. Restricted cash required of $16.4 million, $6.3 million, $7.9 million and $11.7 million as of December 31, 2013, 2012, 2011 and 2010, respectively; guaranteed by third parties. These notes payable were either repaid or renewed subsequently on the due dates. | $ | 29,466 | $ | 12,696 | $ | 7,934 | $ | 21,541 | |||||||||||
Longmen Joint Venture: Notes payable to various banks in China, due various dates from October 2013 to August 2014. Restricted cash required of $381.3 million, $365.8 million, $269.2 million and $316.4 million as of September 30, 2013 and December 31, 2012as of September 30, 2013, June 30, 2013, March 31, 2013 and December 31, 2012, respectively; Restricted notes receivable required of $237.2 million, $98.3 million, $248.4 million and $345.8 million as of September 30, 2013 and December 31, 2012as of September 30, 2013, June 30, 2013, March 31, 2013 and December 31, 2012, respectively; some notes are further guaranteed by third parties. These notes payable were either repaid or renewed subsequently on the due dates. | 950,498 | 792,234 | 785,296 | 971,117 | Longmen Joint Venture: Notes payable to various banks in China, due various dates from January to August 2014. Restricted cash required of $383.0 million, $316.4 million, $355.4 million and $150.7 million as of December 31, 2013, 2012, 2011 and 2010, respectively; Notes receivable secured for the notes payable amounted to $231.7 million, $345.8 million, $451.1 million and $159.3 million as of December 31, 2013, 2012, 2011 and 2010, respectively; some notes are further guaranteed by third parties. These notes payable were either repaid or renewed subsequently on the due dates. | 988,364 | 971,117 | 1,105,570 | 447,992 | |||||||||||||||||||
Total short-term notes payable | $ | 987,988 | $ | 813,521 | $ | 785,519 | $ | 983,813 | Baotou: Notes payable to various banks in China, due in April 2011. Restricted cash required of $5.3 million as of December 31, 2010, guaranteed by third parties. | - | - | - | 10,619 | |||||||||||||||
Total short-term notes payable | $ | 1,017,830 | $ | 983,813 | $ | 1,113,504 | $ | 480,152 | ||||||||||||||||||||
September 30, | June 30, | March 31, | December 31, | |||||||||||||||||||||||||
2012 | 2012 | 2012 | 2011 | Short-term loans | ||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||||||
General Steel (China): Notes payable to China Minsheng Bank, due February 2013. Restricted cash required of $6.3 million, $6.3 million, $14.3 million and $7.9 million as of September 30, 2012, June 30, 2012, March 31, 2012 and December 31, 2011, respectively; guaranteed by third parties. These notes payable were either repaid or renewed subsequently on the due dates. | $ | 12,664 | $ | 12,680 | $ | 20,671 | $ | 7,934 | Short-term loans represent amounts due to various banks, other companies and individuals, including related parties, normally due within one year. The principal of the loans are due at maturity but can be renewed at the bank’s option. Accrued interest is due either monthly or quarterly. | |||||||||||||||||||
Longmen Joint Venture: Notes payable to various banks in China, due various dates from October 2012 to March 2013. Restricted cash required of $412.0 million, $401.1 million, $425.7 million and $355.4 million as of September 30, 2012, June 30, 2012, March 31, 2012 and December 31, 2011, respectively; Restricted notes receivable required of $67.6 million, $115.7 million, $401.4 million and $451.1 million as of September 30, 2012, June 30, 2012, March 31, 2012 and December 31, 2011, respectively; some notes are further guaranteed by third parties while others are secured by equipment and land use rights. These notes payable were either repaid or renewed subsequently on the due dates. | 855,105 | 897,982 | 1,227,564 | 1,105,570 | ||||||||||||||||||||||||
Total short-term notes payable | $ | 867,769 | $ | 910,662 | $ | 1,248,235 | $ | 1,113,504 | Short term loans due to banks, related parties and other parties consisted of the following as of: | |||||||||||||||||||
30-Sep-11 | 30-Jun-11 | 31-Dec-10 | Due to banks | |||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||
General Steel (China): Notes payable to various banks in China, due December 2011. Restricted cash required of $3.1 million, $20.8 million and $11.7 million as of September 30, 2011, June 30, 2011 and December 31, 2010, respectively; guaranteed by third parties. These notes payable were either repaid or renewed subsequently on the due dates. | $ | 6,260 | $ | 23,875 | $ | 21,541 | December 31, | December 31, | December 31, | December 31, | ||||||||||||||||||
Longmen Joint Venture: Notes payable to various banks in China, due various dates from October 2011 to March 2012. $158.6 million restricted cash and $248.9 million notes receivable are secured for notes payable as of September 30, 2011, and comparatively $162.0 million restricted cash and $55.7 million notes receivable are secured for notes payable as of June 30, 2011 and $150.7 million restricted cash and $159.3 million notes receivable are secured for notes payable as of December 31, 2010, respectively; some notes are further guaranteed by third parties while others are secured by equipment and land use rights. These notes payable were either repaid or renewed subsequently on the due dates. | 548,671 | 321,782 | 447,992 | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||||
Bao Tou: Notes payable to various banks in China, due in April 2011. Restricted cash required of $5.3 million as of December 31, 2010, guaranteed by third parties. | - | - | 10,619 | (in thousands) | (in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||
Total short-term notes payable | $ | 554,931 | $ | 345,657 | $ | 480,152 | General Steel (China): Loans from various banks in China, due various dates from March to September 2014. Weighted average interest rate was 7.2%, 7.6%, 7.5% and 6.0% per annum as of December 31, 2013, 2012, 2011 and 2010, respectively; some are guaranteed by third parties while others were secured by equipment and inventory. These loans were either repaid or renewed subsequently on the due dates. | $ | 34,229 | $ | 32,189 | $ | 43,149 | $ | 24,220 | |||||||||||||
Longmen Joint Venture: Loans from various banks in China, due various dates from January to December 2014. Weighted average interest rate was 6.3%, 6.8%, 8.3% and 6.0% per annum as of December 31, 2013, 2012, 2011 and 2010, respectively; some are guaranteed by third parties, restricted cash or notes receivables while others are secured by equipment, buildings, land use right and inventory. $163.9 million, $12.4 million, $76.0 million and $81.0 million restricted notes receivable were secured for the loans as of December 31, 2013, 2012, 2011 and 2010, respectively; These loans were either repaid or renewed subsequently on the due dates. | 267,688 | 114,935 | 209,234 | 260,978 | ||||||||||||||||||||||||
Tianwu: Loans from Industrial and Commercial Bank of China Ltd., due dates vary from March to August 2012. Interest rate was 5% additional to standard bank interest rate, and secured by accounts receivables. These loans were either repaid or renewed subsequently on the due dates. | - | - | 1,571 | - | ||||||||||||||||||||||||
Short-term loans | Total short-term loans - bank | $ | 301,917 | $ | 147,124 | $ | 253,954 | $ | 285,198 | |||||||||||||||||||
Short-term loans represent amounts due to various banks, other companies and individuals, including related parties, normally due within one year. The principal of the loans are due at maturity but can be renewed at the bank’s option. Accrued interest is due either monthly or quarterly. | As of December 31, 2013, 2012, 2011 and 2010, the Company had not met its financial covenants stipulated by certain loan agreements related to the Company’s debt to asset ratio. As of December 31, 2013, three of General Steel (China)’s bank loans contained financial covenants stipulating debt to asset ratios below 20% and 70%. However, as of December 31, 2013, General Steel (China)’s debt to asset ratio was 89.7%. As of December 31, 2012, 2011 and 2010, one of Longmen Joint Venture’s bank loans contained a financial covenant that stipulated a debt to asset ratio below 85%. However, as of December 31, 2012, 2011 and 2010, Longmen Joint Venture’s debt to asset ratio was 117.1%, 105.4% and 93.2%, respectively. | |||||||||||||||||||||||||||
Short term loans due to banks, related parties and other parties consisted of the following as of: | Furthermore, the Company is a party to a loan agreement with a cross default clause whereby any breach of loan covenants will automatically result in default of the loan. The outstanding balance of the short term loans affected by the above breach of covenants and cross default as of December 31, 2013, 2012, 2011 and 2010 was $6.4 million, $12.7 million, $12.6 million and $12.1 million, respectively. According to the Company’s short term loan agreements, the banks have the rights to request for more collateral or additional guarantees if the breach of covenant is not remedied or request early repayment of the loan if the Company does not cure such breach within a certain period of time. As of the date of this report, the Company has not received any notice from the banks to request more collateral, additional guarantees or early repayment of the short term loans due to the breach of covenant. | |||||||||||||||||||||||||||
Due to banks | Due to unrelated parties | |||||||||||||||||||||||||||
September 30, | June 30, | March 31, | December 31, | December 31, | December 31, | December 31, | December 31, | |||||||||||||||||||||
2013 | 2013 | 2013 | 2012 | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||
General Steel (China): Loans from various banks in China, due various dates from December 2013 to September 2014. Weighted average interest rate was 7.2%, 7.2%, 7.2% and 7.6% per annum as of September 30, 2013, June 30, 2013, March 31, 2013 and December 31, 2012, respectively; some are guaranteed by third parties while others are secured by equipment and inventory. These loans were either repaid or renewed subsequently on the due dates. | $ | 38,973 | $ | 34,478 | $ | 32,372 | $ | 32,189 | Longmen Joint Venture: Loans from various unrelated companies and individuals, due various dates from January to June 2014, and weighted average interest rate was 5.2%, 6.0%, 6.2% and 6.0% per annum as of December 31, 2013, 2012, 2011 and 2010, respectively. These loans were either repaid or renewed subsequently on the due dates. | $ | 22,720 | $ | 25,324 | $ | 143,102 | $ | 75,380 | |||||||||||
Longmen Joint Venture: Loans from various banks in China, due various dates from November 2013 to August 2014. Weighted average interest rate was 6.5%, 6.7%, 6.7% and 6.8% per annum as of September 30, 2013, June 30, 2013, March 31, 2013 and December 31, 2012, respectively; some are guaranteed by third parties, restricted cash or notes receivables. $120.0 million, $0, $0 and $76.0 million restricted notes receivable were secured for the loans as of September 30, 2013, June 30, 2013, March 31, 2013 and December 31, 2012, respectively; These loans were either repaid or renewed subsequently on the due dates. | 215,956 | 174,253 | 84,752 | 114,935 | Longmen Joint Venture: Loans from financing sales. | 33,124 | 115,966 | 97,583 | 37,947 | |||||||||||||||||||
Total short-term loans - bank | $ | 254,929 | $ | 208,731 | $ | 117,124 | $ | 147,124 | Maoming Hengda: Loans from one unrelated parties and one related party, due on demand, none interest bearing. | 6,223 | 6,033 | 5,972 | 14,385 | |||||||||||||||
Total short-term loans – others | $ | 62,067 | $ | 147,323 | $ | 246,657 | $ | 127,712 | ||||||||||||||||||||
September 30, | June 30, | March 31, | December 31, | |||||||||||||||||||||||||
2012 | 2012 | 2012 | 2011 | |||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | The Company had various loans from unrelated companies amounting to $62.1 million, $147.3 million, $246.7 million and $127.7 million as of December 31, 2013, 2012, 2011 and 2010, respectively. Of the $62.1 million, $6.2 million loans carry no interest, $33.1 million of financing sales are subject to interest rates ranging between 4.2% and 5.9%, and the remaining $22.7 million are subject to interest rates ranging from 4.7% to 12.0%. All short term loans from unrelated companies are payable on demand and unsecured. | ||||||||||||||||||||||||
General Steel (China): Loans from various banks in China, due various dates from November 2012 to August 2013. Weighted average interest rate was 7.6%, 7.6%, 7.5% and 7.5% per annum as of September 30, 2012, June 30, 2012, March 31, 2012 and December 31, 2011, respectively; some are guaranteed by third parties while others are secured by equipment and inventory. These loans were either repaid or renewed subsequently on the due dates. | $ | 35,274 | $ | 37,674 | 41,526 | 43,149 | ||||||||||||||||||||||
Longmen Joint Venture: Loans from various banks in China, due various dates from December 2012 to September 2013. Weighted average interest rate was 4.8%, 6.7%, 6.6% and 8.3% per annum as of September 30, 2012, June 30, 2012, March 31, 2012 and December 31, 2011, respectively; some are guaranteed by third parties, restricted cash or notes receivables while others are secured by equipment, buildings, land use right and inventory. These loans were either repaid or renewed subsequently on the due dates. | 102,895 | 160,162 | 277,136 | 209,234 | As part of its working capital management, Longmen Joint Venture has entered into a number of sale and purchase back contracts ("contracts") with third party companies and Yuxin and Yuteng. According to the contracts, Longmen Joint Venture sells rebar to the third party companies at a certain price, and within the same month, Yuxin and Yuteng will purchase back the rebar from the third party companies at a price of 4.2% to 5.9% higher than the original selling price from Longmen Joint Venture. Based on the contract terms, Longmen Joint Venture is paid in advance for the rebar sold to the third party companies and Yuxin and Yuteng are given a credit period of several months to one year from the third party companies. There is no physical movement of the inventory during the sale and purchase back arrangement. The margin of 4.2% to 5.9% is determined by reference to the bank loan interest rates at the time when the contracts are entered into, plus an estimated premium based on the financing sale amount, which represents the interest charged by the third party companies for financing Longmen Joint Venture through the above sale and purchase back arrangement. The revenue and cost of goods sold arising from the above transactions are eliminated and the incremental amounts paid by Yuxin and Yuteng to purchase back the goods are treated as financing costs in the consolidated financial statements. | |||||||||||||||||||||||
Tianwu: Loans from Industrial and Commercial Bank of China Limited, due date various from October to December 2012. Interest rate was 10% additional to standard bank interest rate, and secured by accounts receivables. These loans were either repaid or renewed subsequently on the due dates. | 1,583 | 1,585 | - | 1,571 | ||||||||||||||||||||||||
Total short-term loans - bank | $ | 139,752 | $ | 199,421 | 318,662 | 253,954 | Total financing sales for the years ended December 31, 2013, 2012, 2011 and 2010 amounted to $724.3 million, $1.0 billion, $998.9 million and $761.8 million, respectively, which are eliminated in the Company’s consolidated financial statements. The financial cost related to financing sales for the years ended December 31, 2013, 2012, 2011 and 2010 amounted to $5.4 million, $9.2 million, $10.7 million and $7.0 million, respectively. | |||||||||||||||||||||
September 30, | June 30, | December 31, | Short term loans due to related parties | |||||||||||||||||||||||||
2011 | 2011 | 2010 | ||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | December 31, | December 31, | December 31, | December 31, | ||||||||||||||||||||||
General Steel (China): Loans from various banks in China, due various dates from December 2011 to August 2012. Weighted average interest rate 7.0% per annum; some are guaranteed by third parties while others are secured by equipment and inventory. These loans were either repaid or renewed subsequently on the due dates | $ | 33,203 | $ | 34,644 | 24,220 | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||
Longmen Joint Venture: Loans from various banks in China, due various dates from October 2011 to September 2012. Weighted average interest rate 6.6% per annum; some are guaranteed by third parties, restricted cash or notes receivables while others are secured by equipment, buildings, land use right and inventory. These loans were either repaid or renewed subsequently on the due dates. | 369,225 | 277,053 | 260,978 | (in thousands) | (in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||
Total short-term loans - bank | $ | 402,428 | $ | 311,697 | 285,198 | Baotou Steel: Loans from Tianjin Hengying Trading Co., Ltd, due on demand, and interest rates is 10% per annum. | $ | - | $ | 4,133 | $ | - | $ | - | ||||||||||||||
General Steel China: Loans from Tianjin Hengying Trading Co., Ltd., due on demand, and interest rates is 10% per annum. | - | 15,416 | - | - | ||||||||||||||||||||||||
As of September 30, 2013, June 30, 2013, March 31, 2013, December 31, 2012, September 30, 2012, June 30, 2012, March 31, 2012, December 31, 2011, September 30, 2011, June 30, 2011 and December 31, 2010, the Company had not met its financial covenants stipulated by certain loan agreements related to the Company’s debt to asset ratio. Based on the financial covenants, the Company should have kept its debt to asset ratio below 20% and 85% as of September 30, 2013, June 30, 2013, March 31, 2013, December 31, 2012, September 30, 2012, June 30, 2012, March 31, 2012, December 31, 2011, September 30, 2011, June 30, 2011 and December 31, 2010, respectively. However, as of September 30, 2013, June 30, 2013, March 31, 2013, December 31, 2012, September 30, 2012, June 30, 2012, March 31, 2012, December 31, 2011, September 30, 2011, June 30, 2011 and December 31, 2010, the Company's debt to asset ratio was 117.7%, 120.9%, 117.5%,116.4%, 114.4%, 110.9%, 108.0%, 105.4%, 98.2%, 97.1% and 93.2%, respectively. | General Steel China: Loans from Tianjin Dazhan Industry Co, Ltd., due on demand, and interest rates is 10% per annum. | - | 21,397 | - | - | |||||||||||||||||||||||
General Steel China: Loans from Beijing Shenhua Xinyuan Metal Materials Co., Ltd., due on demand, and interest rates is 10% per annum. | - | 1,359 | - | - | ||||||||||||||||||||||||
Furthermore, the Company is a party to a loan agreement with a cross default clause whereby any breach of loan covenants will automatically result in default of the loan. The outstanding balance of the short term loans affected by the above breach of covenants and cross default as of September 30, 2013, June 30, 2013, March 31, 2013, December 31, 2012, September 30, 2012, June 30, 2012, March 31, 2012, December 31, 2011, September 30, 2011, June 30, 2011 and December 31, 2010 was $6.4 million, $7.9 million, $7.8 million, $12.7 million, $12.7 million, $12.7 million, $12.7 million, $12.6 million, $12.5 million, $24.8 million and $12.1 million, respectively. According to the Company’s short term loan agreements, the banks have the rights to request for more collateral or additional guarantees if the breach of covenant is not remedied or request early repayment of the loan if the Company does not cure such breach within a certain period of time. As of the date of this report, the Company has not received any notice from the banks to request more collateral, additional guarantees or early repayment of the short term loans due to the breach of covenant. | General Steel China: Loans from Yangpu Capital Automobile, due on demand, and interest rates is 10% per annum. | 1,458 | 1,413 | - | - | |||||||||||||||||||||||
Longmen Joint Venture: Loan from Shaanxi Coal and Chemical Industry Group Co., Ltd., due on demand, and interest rate is 7.0% per annum. | 28,216 | - | - | - | ||||||||||||||||||||||||
Due to unrelated parties | Longmen Joint Venture: Loan from Shaanxi Steel Group due in November 2014, and interest rate is 6.6% and 5.6% per annum as of December 31, 2013 and 2010, respectively. | 49,110 | - | 14,548 | ||||||||||||||||||||||||
Longmen Joint Venture: Loans from Tianjin Hengying Trading Co., Ltd., due in April 2012, and interest rate was 5.2% per annum. This loan was repaid subsequently on the due date. | - | - | 15,710 | - | ||||||||||||||||||||||||
September 30, | June 30, | March 31, | December 31, | Longmen Joint Venture: Loans from financing sales. | 47,909 | 35,839 | - | - | ||||||||||||||||||||
2013 | 2013 | 2013 | 2012 | Total short-term loans - related parties | $ | 126,693 | $ | 79,557 | $ | 15,710 | $ | 14,548 | ||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||||||
Longmen Joint Venture: Loans from various unrelated companies and individuals, due various dates from October 2013 to February 2014, and weighted average interest rate was 5.2%, 5.2%, 5.2% and 6.0% per annum as of September 30, 2013, June 30, 2013, March 31, 2013, December 31, 2012, respectively. These loans were either repaid or renewed subsequently on the due dates. | $ | 33,294 | $ | 46,980 | $ | 46,003 | $ | 25,324 | Long-term loans due to related party | |||||||||||||||||||
Longmen Joint Venture: Loans from financing sales. | 90,680 | 98,106 | 95,953 | 115,966 | ||||||||||||||||||||||||
Maoming Hengda: Loans from one unrelated parties and one related party, due on demand, none interest bearing. | 6,196 | 6,159 | 6,067 | 6,033 | December 31, | December 31, | December 31, | December 31, | ||||||||||||||||||||
Total short-term loans – others | $ | 130,170 | $ | 151,245 | $ | 148,023 | $ | 147,323 | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||||||
September 30, | June 30, | March 31, | December 31, | Longmen Joint Venture: Loans from Shaanxi Steel Group, due on various dates through November 2015 and interest rate are 5.6% - 5.9% per annum. | $ | 72,657 | $ | 92,973 | $ | 92,035 | $ | 91,020 | ||||||||||||||||
2012 | 2012 | 2012 | 2011 | Less: Current maturities of long-term loans – related party | -53,013 | -54,885 | - | - | ||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | Long-term loans - related party | $ | 19,644 | $ | 38,088 | $ | 92,035 | $ | 91,020 | ||||||||||||||||
Longmen Joint Venture: Loans from various unrelated companies and individuals, due various dates from October 2012 to March 2013; Weighted average interest rate was 6.4%, 6.5%, 6.6% and 6.2% per annum as of September 30, 2012, June 30, 2012, March 31, 2012 and December 31, 2011, respectively. These loans were either repaid or renewed subsequently on the due dates. | $ | 32,911 | $ | 55,935 | $ | 104,227 | $ | 143,102 | ||||||||||||||||||||
Longmen Joint Venture: Loans from financing sales. | 173,791 | 178,165 | 189,458 | 97,583 | Total interest expense, net of capitalized interest, amounted to $33.2 million, $43.1 million, $100.9 million and $51.3 million for the years ended December 31, 2013, 2012, 2011 and 2010, respectively. | |||||||||||||||||||||||
Maoming Hengda: Loans from one unrelated parties and one related party, due on demand, none interest bearing. | 6,018 | 6,025 | 6,022 | 5,972 | ||||||||||||||||||||||||
Total short-term loans – others | $ | 212,720 | $ | 240,125 | $ | 299,707 | $ | 246,657 | Capitalized interest amounted to $2.8 million, $0.7 million, $3.0 million and $2.1 million for the years ended December 31, 2013, 2012, 2011 and 2010, respectively. | |||||||||||||||||||
September 30, | June 30, | December 31, | ||||||||||||||||||||||||||
2011 | 2011 | 2010 | ||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||
Longmen Joint Venture: Loans from various unrelated companies and individuals, due various dates from October 2011 to September 2012. Weighted average interest rates 5.9% per annum. These loans were either repaid or renewed subsequently on the due dates. | $ | 61,467 | $ | 84,018 | $ | 75,380 | ||||||||||||||||||||||
Longmen Joint Venture: Loans from financing sales. | 159,782 | 115,291 | 37,947 | |||||||||||||||||||||||||
Maoming Hengda: Loans from one unrelated parties and one related party, due on demand, none interest bearing. | 5,949 | 5,881 | 14,385 | |||||||||||||||||||||||||
Total short-term loans – others | $ | 227,198 | $ | 205,190 | $ | 127,712 | ||||||||||||||||||||||
The Company had various loans from unrelated companies amounting to $130.2 million, $151.2 million, $148.0 million, $147.3 million, $212.7 million, $240.1 million, $299.7 million, $246.7 million, 227.2 million, $205.2 million and $127.7 million as of September 30, 2013, June 30, 2013, March 31, 2013, December 31, 2012, September 30, 2012, June 30, 2012, March 31, 2012, December 31, 2011, September 30, 2011, June 30, 2011 and December 31, 2010, respectively. Of the $130.2 million, $6.2 million loans carry no interest, $90.7 million of financing sales are subject to interest rates ranging between 4.2% and 5.9%, and the remaining $33.3 million are subject to interest rates ranging from 4.7% to 12.0%. All short term loans from unrelated companies are payable on demand and unsecured. | ||||||||||||||||||||||||||||
As part of its working capital management, Longmen Joint Venture has entered into a number of sale and purchase back contracts ("contracts") with third party companies and Yuxin and Yuteng. According to the contracts, Longmen Joint Venture sells rebar to the third party companies at a certain price, and within the same month, Yuxin and Yuteng will purchase back the rebar from the third party companies at a price of 4.2% to 5.9% higher than the original selling price from Longmen Joint Venture. Based on the contract terms, Longmen Joint Venture is paid in advance for the rebar sold to the third party companies and Yuxin and Yuteng are given a credit period of several months to one year from the third party companies. There is no physical movement of the inventory during the sale and purchase back arrangement. The margin of 4.2% to 5.9% is determined by reference to the bank loan interest rates at the time when the contracts are entered into, plus an estimated premium based on the financing sale amount, which represents the interest charged by the third party companies for financing Longmen Joint Venture through the above sale and purchase back arrangement. The revenue and cost of goods sold arising from the above transactions are eliminated and the incremental amounts paid by Yuxin and Yuteng to purchase back the goods are treated as financing costs in the unaudited condensed consolidated financial statements. | ||||||||||||||||||||||||||||
Total financing sales for the three months ended September 30, 2013, 2012, 2011 and 2010 amounted to $166.2 million, $307.1 million, $297.4 million and $178.3 million, respectively, and for the nine months ended September 30, 2013, 2012, 2011 and 2010, amounted to $519.5 million, $600.8 million, $705.2 million and $576.5 million, respectively, which are eliminated in the Company’s unaudited condensed consolidated financial statements. The financial cost related to financing sales for the three months ended September 30, 2013, 2012, 2011 and 2010, accounted to $1.1 million, $2.1 million, $2.2 million and $1.5 million, respectively, and for the nine months ended September 30, 2013, 2012, 2011 and 2010, amounted to $4.2 million, $6.8 million, $6.1 million and $5.5 million, respectively. | ||||||||||||||||||||||||||||
Total financing sales for the three months ended June 30, 2013, 2012, 2011 and 2010 amounted to $188.1 million, $149.5 million, $248.1 million and $211.1 million, respectively, and for the six months ended June 30, 2013, 2012, 2011 and 2010, amounted to $353.3 million, $293.7 million, $407.8 million $398.2 million, respectively, which are eliminated in the Company’s unaudited condensed consolidated financial statements. The financial cost related to financing sales for the three months ended June 30, 2013, 2012, 2011 and 2010 accounted to $1.5 million, $3.5 million, $2.3 million and $2.2 million, respectively, and for the six months ended June 30, 2013, 2012, amounted to $3.1 million, $4.7 million, $3.9 million $4.0 million, respectively. | ||||||||||||||||||||||||||||
Total financing sales for the three months ended March 31, 2013, 2012 and 2011 amounted to $165.2 million, $144.2 million and $159.7 million, respectively, which are eliminated in the Company’s unaudited condensed consolidated financial statements. The financial cost related to financing sales for the three months ended March 31, 2013, 2012 and 2011, amounted to $1.6 million, $1.2 million and $1.6 million, respectively. | ||||||||||||||||||||||||||||
Short term loans due to related parties | ||||||||||||||||||||||||||||
September 30, | June 30, | March 31, | December 31, | |||||||||||||||||||||||||
2013 | 2013 | 2013 | 2012 | |||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||||||
Baotou Steel: Loans from Tianjin Hengying Trading Co., Ltd, due on demand, and interest rates is 10% per annum. | $ | 3,430 | $ | 3,409 | $ | 3,837 | $ | 4,133 | ||||||||||||||||||||
General Steel China: Loans from Tianjin Hengying Trading Co., Ltd., due on demand, and interest rates is 10% per annum. | - | - | - | 15,416 | ||||||||||||||||||||||||
General Steel China: Loans from Tianjin Dazhan Industry Co, Ltd., due on demand, and interest rates is 10% per annum. | - | 6,858 | - | 21,397 | ||||||||||||||||||||||||
General Steel China: Loans from Beijing Shenhua Xinyuan Metal Materials Co., Ltd., due on demand, and interest rates is 10% per annum. | 1,395 | 1,387 | 1,366 | 1,359 | ||||||||||||||||||||||||
General Steel China: Loans from Yangpu Capital Automobile, due on demand, and interest rates is 10% per annum. | 1,451 | 1,442 | 1,421 | 1,413 | ||||||||||||||||||||||||
Longmen Joint Venture: Loan from Shaanxi Coal and Chemical Industry Group Co., Ltd., due on demand, and interest rate is 7.0% per annum. | 33,580 | 42,836 | 56,977 | - | ||||||||||||||||||||||||
Longmen Joint Venture: Loan from Xi’an Pinhe Steel Material Co., Ltd., due in July 2013, and interest rate is 7.2% per annum. | - | - | 15,960 | - | ||||||||||||||||||||||||
Longmen Joint Venture: Loans from financing sales. | 9,033 | 26,043 | 24,829 | 35,839 | ||||||||||||||||||||||||
Total short-term loans - related parties | $ | 48,889 | $ | 81,975 | $ | 104,390 | $ | 79,557 | ||||||||||||||||||||
September 30, | June 30, | March 31, | December 31, | |||||||||||||||||||||||||
2012 | 2012 | 2012 | 2011 | |||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||||||
Baotou Steel: Loans from Tianjin Hengying Trading Co., Ltd, due on demand, and interest rates is 10% per annum. | $ | 5,072 | $ | 5,078 | $ | 5,075 | $ | - | ||||||||||||||||||||
General Steel China: Loans from Tianjin Hengying Trading Co., Ltd., due on demand, and interest rates is 10% per annum. | 19,756 | 6,802 | 18,795 | - | ||||||||||||||||||||||||
General Steel China: Loans from Tianjin Dazhan Industry Co, Ltd., due on demand, and interest rates is 10% per annum. | 8,972 | 50,984 | 24,674 | - | ||||||||||||||||||||||||
General Steel China: Loans from Beijing Shenhua Xinyuan Metal Materials Co., Ltd., due on demand, and interest rates is 10% per annum. | 1,355 | 1,357 | 1,356 | - | ||||||||||||||||||||||||
General Steel China: Loans from Yangpu Capital Automobile, due on demand, and interest rates is 10% per annum. | 1,409 | 1,411 | 1,410 | - | ||||||||||||||||||||||||
Longmen Joint Venture: Loans from Tianjin Hengying Trading Co., Ltd, due in April 2012, and interest rate was 5.2% per annum. This loan was repaid subsequently on the due date. | 15,840 | 15,710 | ||||||||||||||||||||||||||
Longmen Joint Venture: Loans from financing sales. | 45,505 | 15,892 | 15,842 | - | ||||||||||||||||||||||||
Total short-term loans - related parties | $ | 82,069 | $ | 81,524 | $ | 82,992 | $ | 15,710 | ||||||||||||||||||||
September 30, | June 30, 2011 | December 31, 2010 | ||||||||||||||||||||||||||
2011 | ||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||
Longmen Joint Venture: Loans from Shaanxi Steel, due July 2011, and interest rates 5.6% per annum. | 14,548 | |||||||||||||||||||||||||||
Longmen Joint Venture: Loans from Tianjin Hengying Trading Co., Ltd, due in October 2011, and interest rate 4.8% per annum. This loan was renewed subsequently on the due dates. | 15,650 | 15,470 | - | |||||||||||||||||||||||||
Longmen Joint Venture: Loans from financing sales. | 167 | - | ||||||||||||||||||||||||||
Total short-term loans - related parties | $ | 15,650 | $ | 15,637 | $ | 14,548 | ||||||||||||||||||||||
Long-term loans due to related party | ||||||||||||||||||||||||||||
September 30, | June 30, 2013 | March 31, 2013 | December 31,2012 | |||||||||||||||||||||||||
2013 | ||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||||||
Longmen Joint Venture: Loans from Shaanxi Steel Group, due on various dates through November 2015 and interest rate are 5.6% - 5.9% per annum. | $ | 72,346 | $ | 77,174 | $ | 93,500 | $ | 92,973 | ||||||||||||||||||||
Less: Current maturities of long-term loans – related party | -47,896 | -48,014 | -59,984 | -54,885 | ||||||||||||||||||||||||
Long-term loans - related party | $ | 24,450 | $ | 29,160 | $ | 33,516 | $ | 38,088 | ||||||||||||||||||||
September 30, | June 30, 2012 | March 31, 2012 | December 31,2011 | |||||||||||||||||||||||||
2012 | ||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||||||
Longmen Joint Venture: Loans from Shaanxi Steel Group, due between July 2013 and November 2015 and interest rates are 5.6% - 5.9% per annum | $ | 92,738 | $ | 92,856 | $ | 92,797 | $ | 92,035 | ||||||||||||||||||||
Less: Current maturities of long-term loans – related party | -49,997 | - | - | - | ||||||||||||||||||||||||
Long-term loans - related party | $ | 42,741 | $ | 92,856 | $ | 92,797 | $ | 92,035 | ||||||||||||||||||||
September 30, | December 31, 2012 | December 31, 2010 | ||||||||||||||||||||||||||
2011 | ||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||
Longmen Joint Venture: Loans from Shaanxi Steel Group, due various dates from July 2013 to November 2015 and interest rates of 5.6% - 7.3% per annum. | $ | 107,695 | $ | 134,566 | $ | 91,020 | ||||||||||||||||||||||
Total interest expense, net of capitalized interest, amounted to $15.5 million, $36.6 million, $35.1 million and $10.2 million for the three months ended September 30, 2013, 2012, 2011 and 2010, respectively. | ||||||||||||||||||||||||||||
Total interest expense, net of capitalized interest, amounted to $54.5 million, $138.9 million, $72.3 million and $37.6 million for the nine months ended September 30, 2013, 2012, 2011 and 2010, respectively. | ||||||||||||||||||||||||||||
Capitalized interest amounted to $1.3 million, $0.2 million, $0 and $0.5 million for the three months ended September 30, 2013, 2012, 2011 and 2010, respectively. | ||||||||||||||||||||||||||||
Capitalized interest amounted to $2.1 million, $0.6 million, $2.8 million and $1.6 million for the nine months ended September 30, 2013, 2012, 2011 and 2010, respectively. | ||||||||||||||||||||||||||||
Total interest expense, net of capitalized interest, amounted to $19.4 million, $25.5 million, $23.1 million and $16.5 million, for the three months ended June 30, 2013, 2012, 2011 and 2010, respectively. | ||||||||||||||||||||||||||||
Total interest expense, net of capitalized interest, amounted to $38.6 million, $53.0 million, $37.2 million and $27.4 million, for the six months ended June 30, 2013, 2012, 2011 and 2010, respectively. | ||||||||||||||||||||||||||||
Capitalized interest amounted to $0.6 million, $0.4 million, $2.1 million and 0.7 million, for the three months ended June 30, 2013, 2012, 2011 and 2010 respectively. | ||||||||||||||||||||||||||||
Capitalized interest amounted to $0.8 million, $0.4 million, $2.8 million and $1.1 million for the six months ended June 30, 2013, 2012, 2011 and 2010, respectively. | ||||||||||||||||||||||||||||
Total interest expense, net of capitalized interest, amounted to $19.1 million, $27.5 million and $14.1 million for the three months ended March 31, 2013, 2012 and 2011, respectively. | ||||||||||||||||||||||||||||
Capitalized interest amounted to $0.2 million, $0.03 million and $0.7 million for the three months ended March 31, 2013, 2012 and 2011, respectively. | ||||||||||||||||||||||||||||
Customer_deposits
Customer deposits | 9 Months Ended | 12 Months Ended |
Sep. 30, 2013 | Dec. 31, 2013 | |
Deposits [Abstract] | ' | ' |
Customer Deposits Disclosure [Text Block] | ' | ' |
Note 11 – Customer deposits | Note 11 – Customer deposits | |
Customer deposits represent amounts advanced by customers on product orders. The product normally is shipped within one month after receipt of the advance payment, and the related sale is recognized in accordance with the Company’s revenue recognition policy. As of September 30, 2013, June 30, 2013, March 31, 2013, December 31, 2012, September 30, 2012, June 30, 2012, March 31, 2012, December 31, 2011, September 30, 2011, June 30, 2011 and December 31, 2010, customer deposits amounted to $110.2 million, $130.1 million, $117.3 million, $147.9 million, $165.3 million, $128.1 million, $138.1 million, $158.8 million, $246.5 million, $241.1 million and $188.4 million, respectively, including deposits received from related parties, which amounted to $14.5 million, $7.8 million, $12.6 million, $22.0 million, $83.5 million, $39.1 million, $57.4 million, $68.3 million, $54.4 million, $65.8 million and $54.9 million, respectively. | Customer deposits represent amounts advanced by customers on product orders. The product normally is shipped within one month after receipt of the advance payment, and the related sale is recognized in accordance with the Company’s revenue recognition policy. As of December 31, 2013, 2012, 2011 and 2010, customer deposits amounted to $152.7 million, $147.9 million, $158.8 million and $188.4 million, respectively, including deposits received from related parties, which amounted to $64.9 million, $22.0 million, $68.3 million and $54.9 million, respectively. | |
Deposits_due_to_sales_represen
Deposits due to sales representatives | 9 Months Ended | 12 Months Ended |
Sep. 30, 2013 | Dec. 31, 2013 | |
Deposits Due To Sales Representatives [Abstract] | ' | ' |
Deposits Due To Sales Representatives [Text Block] | ' | ' |
Note 12 – Deposits due to sales representatives | Note 12 – Deposits due to sales representatives | |
Longmen Joint Venture entered into agreements with various entities to act as the Company’s exclusive sales agent in a specified geographic area. These exclusive sales agents must meet certain criteria and are required to deposit a certain amount of money with the Company. In return the sales agents receive exclusive sales rights in a specified area and at discounted prices on products they order. These deposits bear no interest and are required to be returned to the sales agent once the agreement is terminated. The agreement is normally entered/or renewed on an annual basis. Termination of the agreement can be mutually agreed to by both parties at any time. The Company had $30.0 million, $32.6 million, $42.3 million, $35.1 million, $36.2 million, $31.8 million, $34.8 million, $23.8 million, $21.5 million, $23.7 million and $52.1 million in deposits due to sales representatives, including deposits due to related parties, as of September 30, 2013, June 30, 2013, March 31, 2013, December 31, 2012, September 30, 2012, June 30, 2012, March 31, 2012, December 31, 2011, September 30, 2011, June 30, 2011 and December 31, 2010, respectively. | Longmen Joint Venture entered into agreements with various entities to act as the Company’s exclusive sales agent in a specified geographic area. These exclusive sales agents must meet certain criteria and are required to deposit a certain amount of money with the Company. In return the sales agents receive exclusive sales rights in a specified area and at discounted prices on products they order. These deposits bear no interest and are required to be returned to the sales agent once the agreement is terminated. The agreement is normally entered/or renewed on an annual basis. Termination of the agreement can be mutually agreed to by both parties at any time. The Company had $26.3 million, $35.1 million, $23.8 million and $52.1 million in deposits due to sales representatives, including deposits due to related parties, as of December 31, 2013, 2012, 2011 and 2010, respectively. | |
Convertible_notes_and_warrants
Convertible notes and warrants | 9 Months Ended | 12 Months Ended | ||||||||||||
Sep. 30, 2013 | Dec. 31, 2013 | |||||||||||||
Debt Disclosure [Abstract] | ' | ' | ||||||||||||
Convertible Notes and Derivative Liabilities [Text Block] | ' | ' | ||||||||||||
Note 13 – Convertible notes and derivative liabilities | Note 13 – Convertible notes and warrants | |||||||||||||
The Company had 3,900,871 outstanding warrants in connection with the $40 million convertible notes issued in 2007, which expired on May 13, 2013, and 2,777,778 warrants in connection with a registered direct offering in 2009, which expired on June 24, 2012. The aforementioned warrants met the definition of a derivative instrument in the accounting standards and were recorded at their fair value on each reporting date. The change in the value of the derivative liabilities is charged against or credited to income each period. | The Company had 3,900,871 outstanding warrants in connection with the $40 million convertible notes issued in 2007, which expired on May 13, 2013, and 2,777,778 warrants in connection with a registered direct offering in 2009, which expired on June 24, 2012. The aforementioned warrants met the definition of a derivative instrument in the accounting standards and were recorded at their fair value on each reporting date. The change in the value of the derivative liabilities is charged against or credited to income each period. | |||||||||||||
The fair value of the warrants as of December 31, 2012 was calculated using the Cox Rubenstein Binomial model based on the following variables: | The fair value of the warrants as of December 31, 2012 was calculated using the Cox Rubenstein Binomial model based on the following variables: | |||||||||||||
December 31, 2012 | 2007 Warrants | |||||||||||||
Expected volatility | 86 | % | Expected volatility | 86 | % | |||||||||
Expected dividend yield | 0 | % | Expected dividend yield | 0 | % | |||||||||
Risk-free interest rate | 0.08 | % | Risk-free interest rate | 0.08 | % | |||||||||
Expected lives | 0.36 years | Expected lives | 0.36 years | |||||||||||
Market price | $ | 0.99 | Market price | $ | 0.99 | |||||||||
Strike price | $ | 5 | Strike price | $ | 5 | |||||||||
As of September 30, 2013, June 30, 2013, March 31, 2013, December 31, 2012, September 30, 2012, June 30, 2012, March 31, 2012, December 31, 2011, September 30, 2011, June 30, 2011 and December 31, 2010, derivative liabilities - warrants amounted to $0, $0, $0, $1.0 thousand, $58.4 thousand, $3.3 thousand, $23.1 thousand, $10.2 thousand, $47.6 thousand, $0.2 million and $5.6 million, respectively. | The fair value of the warrants as of December 31, 2011 was calculated using the Cox Rubenstein Binomial model based on the following variables: | |||||||||||||
The Company has the following warrants outstanding: | 2007 Warrants | 2009 Warrants | ||||||||||||
Expected volatility | 55 | % | 50 | % | ||||||||||
Outstanding as of December 31, 2010 | 6,678,649 | Expected dividend yield | 0 | % | 0 | % | ||||||||
Granted | - | Risk-free interest rate | 0.17 | % | 0.24 | % | ||||||||
Forfeited / expired | - | Expected lives | 1.37 years | 0.48 years | ||||||||||
Exercised | - | Market price | $ | 0.99 | $ | 0.99 | ||||||||
Outstanding as of December 31, 2011 | 6,678,649 | Strike price | $ | 5 | $ | 5 | ||||||||
Granted | - | |||||||||||||
Forfeited / expired | -2,777,778 | The fair value of the warrants as of December 31, 2010 was calculated using the Cox Rubenstein Binomial model based on the following variables: | ||||||||||||
Exercised | - | |||||||||||||
Outstanding as of December 31, 2012 | 3,900,871 | 2007 Warrants | 2009 Warrants | |||||||||||
Granted | - | Expected volatility | 100 | % | 60 | % | ||||||||
Forfeited / expired | -3,900,871 | Expected dividend yield | 0 | % | 0 | % | ||||||||
Exercised | - | Risk-free interest rate | 0.76 | % | 0.44 | % | ||||||||
Outstanding as of September 30, 2013 | - | Expected lives | 2.37 years | 1.48 years | ||||||||||
Market price | $ | 2.87 | $ | 2.87 | ||||||||||
Strike price | $ | 5 | $ | 5 | ||||||||||
As of December 31, 2013, 2012, 2011 and 2010, derivative liabilities - warrants amounted to $0, $1.0 thousand, $10.2 thousand and $5.6 million, respectively. | ||||||||||||||
The Company has the following warrants outstanding: | ||||||||||||||
Outstanding as of December 31, 2010 | 6,678,649 | |||||||||||||
Granted | - | |||||||||||||
Forfeited / expired | - | |||||||||||||
Exercised | - | |||||||||||||
Outstanding as of December 31, 2011 | 6,678,649 | |||||||||||||
Granted | - | |||||||||||||
Forfeited / expired | -2,777,778 | |||||||||||||
Exercised | - | |||||||||||||
Outstanding as of December 31, 2012 | 3,900,871 | |||||||||||||
Granted | - | |||||||||||||
Forfeited / expired | -3,900,871 | |||||||||||||
Exercised | - | |||||||||||||
Outstanding as of December 31, 2013 | - | |||||||||||||
Supplemental_disclosure_of_cas
Supplemental disclosure of cash flow information | 9 Months Ended | 12 Months Ended |
Sep. 30, 2013 | Dec. 31, 2013 | |
Supplemental Cash Flow Elements [Abstract] | ' | ' |
Cash Flow Supplemental Disclosures [Text Block] | ' | ' |
Note 14 - Supplemental disclosure of cash flow information | Note 14 - Supplemental disclosure of cash flow information | |
Interest paid, net of capitalized, amounted to $11.5 million, $20.2 million, $8.6 million and $13.2 million for the nine months ended September 30, 2013, 2012, 2011 and 2010, respectively. | Interest paid, net of capitalized, amounted to $14.5 million, $22.7 million, $22.5 million and $20.9 million for the years ended December 31, 2013, 2012, 2011 and 2010, respectively. | |
The Company paid income tax amounted to $0.3 million, $0.1 million, $0.5 million and $1.6 million for the nine months ended September 30, 2013, 2012, 2011 and 2010, respectively. | The Company paid income tax amounted to $0.9 million, $0.6 million, $0.8 million and $1.8 million for the years ended December 31, 2013, 2012, 2011 and 2010, respectively. | |
During the nine months ended September 30, 2013 and 2012, the Company had receivables of $1.0 million and $0.5 million as a result of the disposal of equipment that has not been collected. | During the year ended December 31, 2013, the Company had receivables of $1.2 million as a result of the disposal of equipment that has not been collected. | |
During the nine months ended September 30, 2013 and 2012, the Company converted $1.0 million and $0.2 million of equipment into inventory productions. | During the year ended December 31, 2013, the Company converted $1.0 million of equipment into inventory productions. | |
During the nine months ended September 30, 2013, the Company used $37.3 million inventory in plant and equipment constructions. | During the year ended December 31, 2013, the Company used $46.3 million inventory in plant and equipment constructions. | |
During the nine months ended September 30, 2013 and 2012, the Company offset $64.2 million and $0, respectively, accounts payable to related party as loan receivable – related party repayment. | During the year ended December 31, 2013, the Company capitalized $17.8 million (RMB 110.3 million) on energy-saving equipment under capital lease agreements. | |
During the nine months ended September 30, 2013 and 2012, the Company offset $119.9 million and $29.9 million, respectively, advance on inventory purchases and other receivables to related parties as short-term loan repayments. | The Company had $63.3 million notes receivable from financing sales loans to be converted to cash as of December 31, 2013. | |
During the nine months ended September 30, 2013, the Company reclassified $3.8 million refundable advances on inventory purchase – related parties to other receivables – related parties. | During the year ended December 31, 2013, the Company offset $64.5 million accounts payable to a related party as loan receivable – related party repayment as contractually agreed to with the related party. | |
During the nine months ended September 30, 2013, the Company incurred $18.7 million accounts payable to be paid for constructions in process. | During the years ended December 31, 2013 and 2012, the Company offset $120.3 million and $43.6 million, respectively, advance on inventory purchases and other receivables to related parties as short-term loan repayments. | |
During the nine months ended September 30, 2013 and 2012, one of the Company’s unconsolidated entities declared dividend and the Company was entitled for the dividend amounted to $0.2 million and $0.1 million, respectively, which was not yet collected. | During the year ended December 31, 2013, the Company reclassified $3.8 million refundable advances on inventory purchase – related parties to other receivables – related parties. | |
During the nine months ended September 30, 2012, the Company sold its 22.76% equity interest of Tongxing at the carrying value of $8.0 million to two individuals who are representatives from Long Steel Group, a related party. In connection with this transaction, the Company received a land use rights from Tongxing at carrying value for $3.6 million and settled with a payable in cash of $0.3 million that the Company has not been paid. In addition, the Company determined that dividend receivables of $0.9 million will be transferring to the two individuals and will not be collected from Tongxing after these transactions. | During the year ended December 31, 2013, the Company incurred $48.7 million accounts payable to be paid for the purchase of equipment and construction in progress. | |
During the nine months ended September 30, 2012, the Company converted $48.0 million of our accounts payable and other payables from our related parties to short term loans upon the execution of the loan agreements. | During the years ended December 31, 2013 and 2012, two and one of the Company’s unconsolidated entities declared dividend and the Company was entitled for the dividend amounted to $0.2 million and $0.1 million, respectively, which was not yet collected. | |
During the nine months ended September 30, 2011 and 2010, the Company recognized $13.6 million and $28.6 million of lease income in related to other receivables – related parties that have not been collected. | During the year ended December 31, 2012, the Company sold its 22.76% equity interest of Tongxing at the carrying value of $8.0 million to two individuals who are representatives from Long Steel Group, a related party. In connection with this transaction, the Company received a land use rights from Tongxing at carrying value for $3.6 million and settled with a payable in cash of $0.3 million that the Company has not been paid. In addition, the Company determined that dividend receivables of $0.9 million will be transferring to the two individuals and will not be collected from Tongxing after these transactions. | |
During the nine months ended September 30, 2011, the Company issued 974,571 shares of common stock for repayment of debt of $4.9 million. | During the year ended December 31, 2012, the Company converted $48.0 million of our accounts payable and other payables from our related parties to short term loans upon the execution of the loan agreements. | |
The Company capitalized all the fixed assets constructed by Shaanxi Steel for a price of $572.5 million through a 20 year capital lease starting from April 29, 2011 upon the inception of the Unified Management Agreement. See Note 16 – “ Capital lease obligations”. | For the year ended December 31, 2011, the Company recognized $0.3 million of non-operating income that has not been collected. The unpaid amount was included in the other receivables in the consolidated balance sheets. | |
On April 30, 2011, a share transfer agreement was signed with the Labor Union Trust of Shaanxi Long Steel Group, transferring Tongxing’s 20.7% share of Shaanxi Xinglong (“Xinglong”) Theromoelectric Co., Ltd. to the Labor Union Trust of Shaanxi Long Steel Group for $11.3 million on April 30, 2011. This transaction resulted in gain of $1.4 million, which is included in “Income from equity investments” in the unaudited condensed consolidated statements of operations and comprehensive loss. As of September 30, 2011, the unpaid amount of $11.3 million was included in the other –receivable – related parties. | For the years ended December 31, 2011 and 2010, the Company recognized $13.8 million and $35.6 million, respectively, of deferred lease income in related to other receivables – related parties that have not been collected. | |
Interest paid, net of capitalized, amounted to $7.6 million, $15.4 million, $8.6 million and $8.7 million for the six months ended June 30, 2013, 2012, 2011 and 2010, respectively. | The Company capitalized all the fixed assets constructed by Shaanxi Steel for a price of $572.5 million through a 20 year capital lease starting from April29, 2011 upon the inception of the Unified Management Agreement. See Note 16 – “Capital lease obligations”. | |
The Company paid income tax amounted to $0.2 million, $0.2 million, $0.5 million and $1.3 million for the six months ended June 30, 2013, 2012, 2011 and 2010, respectively. | During the year ended December 31, 2011, the Company issued 974,571 shares of common stock for repayment of debt of $4.8 million. | |
During the six months ended June 30, 2013 and 2012, the Company had receivables of $1.0 million and $0.5 million as a result of the disposal of equipment that has not been collected. | On April 30, 2011, a share transfer agreement was signed with the Labor Union Trust of Shaanxi Long Steel Group, transferring Tongxing’s 20.7% share of Shaanxi Xinglong (“Xinglong”) Thermoelectric Co., Ltd to the Labor Union Trust of Shaanxi Long Steel Group for $11.3 million on April 30, 2011. This transaction resulted in a gain of $1.4 million, which is included in “Income from equity investments” in the consolidated statements of operations and other comprehensive income (loss). As of December 31, 2011, the unpaid amount of $11.4 million was included in the other receivable – related parties. | |
During the six months ended June 30, 2013, the Company converted $0.7 million of equipment into inventory productions. | ||
During the six months ended June 30, 2013, the Company used $19.0 million inventory in plant and equipment constructions. | ||
During the six months ended June 30, 2013 and 2012, the Company offset $63.9 million and $0, respectively, accounts payable to related party as loan receivable – related party repayment. | ||
During the six months ended June 30, 2013 and 2012, the Company offset $88.8 million and $22.4 million, respectively, advance on inventory purchases to related parties as short-term loan repayments. | ||
During the six months ended June 30, 2013, the Company reclassified $3.7 million refundable advances on inventory purchase – related parties to other receivables – related parties. | ||
During the six months ended June 30, 2013, the Company incurred $4.7 million accounts payable to be paid for constructions in process. | ||
During the six months ended June 30, 2013 and 2012, one of the Company’s unconsolidated entities declared dividend and the Company was entitled for the dividend amounted to $0.2 million and $0.1 million, respectively, which was not yet collected. | ||
During the six months ended June 30, 2012, one of the Company’s unconsolidated entities declared dividend and the Company was entitled for the dividend amounted to $0.1 million, which was not yet collected. | ||
During the six months ended June 30, 2012, the Company sold its 22.76% equity interest of Tongxing at the carrying value of $8.0 million to two individuals who are representatives from Long Steel Group, a related party. In connection with this transaction, the Company received a land use rights from Tongxing at carrying value for $3.6 million and settled with a payable in cash of $0.3 million that the Company has not been paid. In addition, the Company determined that dividend receivables of $0.9 million will be transferring to the two individuals and will not be collected from Tongxing after these transactions. | ||
During the six months ended June 30, 2012, the Company converted $48.0 million of our accounts payable and other payables from our related parties to short term loans upon the execution of the loan agreements. | ||
During the six months ended June 30, 2012, the Company offset $22.4 million advance on inventory purchases to related parties as short-term loans repayments. | ||
During the six months ended June 30, 2011, the Company recognized $13.6 million of deferred lease income in related to other receivables – related parties that have not been collected. | ||
During the six months ended June 30, 2011, the Company issued 974,571 shares of common stock for repayment of debt of $4.9 million. | ||
Interest paid, net of capitalized, amounted to $3.6 million, $7.5 million and $4.7 million for the three months ended March 31, 2013, 2012 and 2011, respectively. | ||
The Company paid income tax amounted to $0.1 million, $0.1 million and $0.4 million for the three months ended March 31, 2013, 2012 and 2011, respectively. | ||
During the three months ended March 31, 2013, the Company had receivables of $1.0 million as a result of the disposal of equipment that has not been collected. | ||
During the three months ended March 31, 2013, the Company converted $0.5 million of equipment into inventory productions. | ||
During the three months ended March 31, 2013, the Company used $4.1 million inventory in plant and equipment constructions. | ||
During the three months ended March 31, 2013, the Company offset $63.6 million accounts payable to related party as loan receivable – related party repayment. | ||
During the three months ended March 31, 2013 and 2012, the Company offset $88.2 million and $11.5 million, respectively, advance on inventory purchases to related parties as short-term loan repayments. | ||
During the three months ended March 31, 2013 and 2012, one of the Company’s unconsolidated entities declared dividend and the Company was entitled for the dividend amounted to $0.2 million and $0.1 million, respectively, which was not yet collected. | ||
During the three months ended March 31, 2012, the Company converted $48.1 million of our accounts payable and other payables from our related parties to short term loans upon the execution of the loan agreements. | ||
During the three months ended March 31, 2011, the Company recognized $13.8 million of deferred lease income in related to other receivables – related parties that have not been collected. | ||
Other receivables – related parties from Shaanxi Steel of $59.3 was offset with short-term loans due to the same related party as of March 31, 2011. | ||
Deferred_lease_income
Deferred lease income | 9 Months Ended | 12 Months Ended |
Sep. 30, 2013 | Dec. 31, 2013 | |
Deferred Revenue [Abstract] | ' | ' |
Deferred Revenue Disclosure [Text Block] | ' | ' |
Note 15 - Deferred lease income | Note 15 - Deferred lease income | |
To compensate the Group for costs and economic losses incurred during construction of the iron and steel making facilities owned by Shaanxi Steel, Shaanxi Steel reimbursed Longmen Joint Venture $11.4 million (RMB 70.1 million) in the fourth quarter of 2010 for the value of assets dismantled and rent under a 40-year property sub-lease that was entered into by the parties in June 2009 (the "Longmen Sub-lease"), and $29.8 million (RMB 183.1 million) for the reduced production efficiency caused by the construction. In addition, in 2010 and 2011, Shaanxi Steel reimbursed Longmen Joint Venture $14.6 | To compensate the Company for costs and economic losses incurred during construction of the iron and steel making facilities owned by Shaanxi Steel, Shaanxi Steel reimbursed Longmen Joint Venture $11.5 million (RMB 70.1 million) in the fourth quarter of 2010 for the value of assets dismantled and rent under a 40-year property sub-lease that was entered into by the parties in June 2009 (the "Longmen Sub-lease"), and $30.0 million (RMB 183.1 million) for the reduced production efficiency caused by the construction. In addition, in 2010 and 2011, Shaanxi Steel reimbursed Longmen Joint Venture $14.7 million (RMB 89.5 million) and $14.6 million (RMB 89.3 million), respectively, for trial production costs related to the new equipment. | |
During the period from June 2010 to March 2011, as construction progressed and certain of the assets came online, Longmen Joint Venture used the assets free of charge to produce saleable units of steel products during this period. As such, the cost of using these assets and therefore the fair value of the free rent received was imputed with reference to what the depreciation charge would have been on these assets had they been owned or under capital lease to Longmen Joint Venture during the free use period. This cost of $7.2 million (RMB 43.9 million) each year were deferred and will be recognized over the term of the land sub-lease similar to the other charges and credits related to the construction of these assets. | ||
The deferred lease income is amortized to income over the remaining term of the 40-year land sub-lease. For the year ended December 31, 2013, 2012, 2011 and 2010, the Company recognized $2.2 million, $2.1 million, $2.0 million and $0.9 million, respectively. As of December 31, 2013, 2012, 2011 and 2010, the balance of deferred lease income amounted to $77.4 million, $77.2 million, $78.5 million and $57.6 million, respectively, of which $2.2 million, $2.1 million, $2.1 million and $2.0 million represents balance to be amortized within one year. See Note 21 – Related party transactions and balances (m) – Deferred lease income for details. | ||
Capital_lease_obligations
Capital lease obligations | 9 Months Ended | 12 Months Ended | ||||||||
Sep. 30, 2013 | Dec. 31, 2013 | |||||||||
Leases, Capital [Abstract] | ' | ' | ||||||||
Capital Leases in Financial Statements of Lessee Disclosure [Text Block] | ' | ' | ||||||||
Note 16 - Capital lease obligation (restated) | Note 16 - Capital lease obligations | |||||||||
On April 29, 2011, the Company’s subsidiary, Longmen Joint Venture entered into a Unified Management Agreement with Shaanxi Steel and Shaanxi Coal under which Longmen Joint Venture uses new iron and steel making facilities including one sintering machine, two converters, two blast furnaces and other auxiliary systems constructed by Shaanxi Steel. As the 20-year term of the agreement exceeds 75% of the assets’ useful lives, this arrangement is accounted for as a capital lease. The ongoing lease payments are comprised of two elements: (1) a monthly payment of $2.3 million (RMB 14.6 million) based on Shaanxi Steel’s cost to construct the assets to be paid over the term of the Unified Management Agreement of 20 years and (2) 40% of any remaining pre-tax profits from the Asset Pool which includes Longmen Joint Venture and the newly constructed iron and steel making facilities. In February 2014, Shaanxi Steel agreed that it will not demand capital lease payment from Longmen Joint Venture until February 2017. The profit sharing component does not meet the definition of contingent rent because it is based on future revenue and is therefore considered part of the financing for the capital leased assets which is related to the Unified Management Agreement. After determining the value of the leased asset and obligation at the inception of the lease, the lease liability is then reduced by the value of the profit sharing component, which is recognized as a derivative liability, which is carried at fair value. See Note 17 – “Profit sharing liability”. | Iron and steel production facilities | |||||||||
Presented below is a schedule of estimated minimum lease payments on the capital lease obligation for the next five years as of September 30, 2013: | On April 29, 2011, the Company’s subsidiary, Longmen Joint Venture entered into a Unified Management Agreement with Shaanxi Steel and Shaanxi Coal under which Longmen Joint Venture uses new iron and steel making facilities including one sintering machine, two converters, two blast furnaces and other auxiliary systems constructed by Shaanxi Steel. As the 20-year term of the agreement exceeds 75% of the assets’ useful lives, this arrangement is accounted for as a capital lease. The ongoing lease payments are comprised of two elements: (1) a monthly payment of $2.3 million (RMB14.6 million) based on Shaanxi Steel’s cost to construct the assets to be paid over the term of the Unified Management Agreement of 20 years and (2) 40% of any remaining pre-tax profits from the Asset Pool which includes Longmen Joint Venture and the newly constructed iron and steel making facilities. In February 2014, Shaanxi Steel agreed that it will not demand capital lease payment from Longmen Joint Venture until February 2017. The profit sharing component does not meet the definition of contingent rent because it is based on future revenue and is therefore considered part of the financing for the capital leased assets which is related to the Unified Management Agreement. After determining the value of the leased asset and obligation at the inception of the lease, the lease liability was then reduced by the value of the profit sharing component, which is recognized as a derivative liability, which is carried at fair value. See Note 17 – “Profit sharing liability”. | |||||||||
Year ending September 30, | Capital Lease Obligation | Energy-saving equipment | ||||||||
Minimum Lease Payments | ||||||||||
(in thousands) | During 2013, the Company’s subsidiary, Longmen Joint Venture, entered into capital lease agreements for energy-saving equipment to be installed throughout the production chain. Under these agreements, Longmen Joint Venture uses the energy-saving equipment for which the vendors are responsible for the design, purchase, installation, and on-site testing, as well as the ownership rights to the equipment during the lease periods. The lease periods, which vary between four to six years, begin upon the completion of the equipment installation, testing, and the issuance of the energy-saving rate reports to be agreed upon by both the vendors and Longmen Joint Venture. As the ownership rights of the equipment transfer to Longmen Joint Venture at the end of the lease periods, these agreements are accounted for as capital leases. | |||||||||
2014 | $ | - | ||||||||
2015 | 126,557 | The minimum lease payments are based on the energy cost saved during the lease periods, which is determined by the estimated annual equipment operating hours per the lease agreements. If the actual annual equipment operating hours are less than the estimated amount, the lease periods may be extended, subject to further negotiation and agreement between the Company and the vendors. If the actual annual equipment operating hours exceed the estimated amount, the Company is obligated to pay the additional lease payment based on the additional energy cost saved during the lease period and recognize the additional lease payments as contingent rent expense. For the year ended December 31, 2013, $18.1 million (RMB $110.3 million) energy-saving equipment under these lease agreements have been capitalized and no contingent rent expense has been incurred. | ||||||||
2016 | 28,654 | |||||||||
2017 | 28,654 | Presented below is a schedule of estimated minimum lease payments on the capital lease obligation for the next five years as of December 31, 2013: | ||||||||
2018 | 28,654 | |||||||||
Thereafter | 360,567 | Year ending December 31, | Capital Lease | |||||||
Total minimum lease payments | 573,086 | Obligations | ||||||||
Less: amounts representing interest | -218,510 | Minimum Lease | ||||||||
Ending balance | $ | 354,576 | Payments | |||||||
(in thousands) | ||||||||||
Interest expense for the three months ended September 30, 2013, 2012, 2011 and 2010 on the minimum lease payments were $5.1 million, $5.1 million, $5.1 million and $0, respectively. | 2014 | $ | 5,292 | |||||||
2015 | 4,248 | |||||||||
Interest expense for the nine months ended September 30, 2013, 2012, 2011 and 2010 on the minimum lease payments were $15.3 million, $15.5 million, $8.5 million and $0, respectively. | 2016 | 4,248 | ||||||||
2017 | 195,506 | |||||||||
Interest expense for the three months ended June 30, 2013, 2012, 2011 and 2010 on the minimum lease payments were $5.1 million, $5.2 million, $3.4 million and $0, respectively. | 2018 | 31,057 | ||||||||
Thereafter | 356,191 | |||||||||
Interest expense for the six months ended June 30, 2013, 2012, 2011 and 2010 on the minimum lease payments were $10.2 million, $10.4 million, $3.4 million and $0, respectively. | Total minimum lease payments | 596,542 | ||||||||
Less: amounts representing interest | -217,202 | |||||||||
Interest expense for the three months ended March 31, 2013, 2012 and 2011 on the minimum lease payments were $5.1 million, $5.2 million and $0, respectively. | Ending balance | $ | 379,340 | |||||||
Interest expense for the years ended December 31, 2013, 2012, 2011 and 2010 on the capital lease obligations was $20.8 million, $20.6 million, $18.4 million and $0, respectively | ||||||||||
Profit_sharing_liability
Profit sharing liability | 9 Months Ended | 12 Months Ended |
Sep. 30, 2013 | Dec. 31, 2013 | |
Profit Sharing Liability [Abstract] | ' | ' |
Profit Sharing Liability [Text Block] | ' | ' |
Note 17 – Profit sharing liability (restated) | Note 17 – Profit sharing liability (restated) | |
The profit sharing liability component of the capital lease obligation was recognized initially at its estimated fair value at the lease commencement date and included in the initial measurement and recognition of the capital lease, in addition to the fixed payment component of the minimum lease payments. The profit sharing liability is accounted for separately from the fixed portion of the capital lease obligation (see Note 16 - “Capital lease obligation”) and is accounted for as a derivative instrument in accordance with ASC 815-10-15-83. The estimated fair value of the profit sharing liability is reassessed at the end of each reporting period, with any change in fair value charged or credited to income as “Change in Fair Value of Profit Sharing Liability”. See Note 3(h) – “Financial instruments” for details. | The profit sharing liability component of the capital lease obligation was recognized initially at its estimated fair value at the lease commencement date and included in the initial measurement and recognition of the capital lease, in addition to the fixed payment component of the minimum lease payments. The profit sharing liability is accounted for separately from the fixed portion of the capital lease obligation (see Note 16 - “Capital lease obligation”) and is accounted for as a derivative instrument in accordance with ASC 815-10-15-83. The estimated fair value of the profit sharing liability is reassessed at the end of each reporting period, with any change in fair value charged or credited to income as “Change in Fair Value of Profit Sharing Liability”. See Note 3(i) – “Financial instruments” for details. | |
Payments to Shaanxi Steel for the profit sharing liability are not required until net cumulative profits are achieved. Based on the performance of the Asset Pool, no profit sharing payment has been made since inception. | Payments to Shaanxi Steel for the profit sharing liability are not required until net cumulative profits are achieved. Based on the performance of the Asset Pool, no profit sharing payment has been made since inception. | |
Other_income_expense
Other income (expense) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2013 | Dec. 31, 2013 | |
Other Income and Expenses [Abstract] | ' | ' |
Other Income and Other Expense Disclosure [Text Block] | ' | ' |
Note 18 – Other income (expense) | Note 18 – Other income (expense) | |
Lease income | Gain on debt settlement | |
The deferred lease income from the reimbursement from Shaanxi Steel for the net book value of the fixed assets that were demolished and for the inefficiency costs caused by the construction and loss incurred in the beginning stages of the system production is amortized to income over the remaining sub-lease term. For the three months ended September 30, 2013, 2012, 2011 and 2010, the Company recognized $0.5 million, $0.5 million, $0.5 million and $0.3 million, respectively. For the nine months ended September 30, 2013, 2012, 2011 and 2010, the Company recognized $1.6 million, $1.6 million, $1.5 million and $0.6 million, respectively. For the three months ended June 30, 2013, 2012, 2011 and 2010, the Company recognized $0.5 million, $0.5 million, $0.5 million and $0.2 million, respectively. For the six months ended June 30, 2013, 2012, 2011 and 2010, the Company recognized $1.1 million, $1.1 million, $1.0 million and $0.3 million, respectively. For the three months ended March 31, 2013, 2012 and 2011, the Company recognized $0.5 million in each period. | On June 16, 2011, the Company and Maoming Hengda entered into a Debt Repayment Agreement with Guangzhou Hengda Industrial Group Ltd. (“Guangzhou Hengda”), an unrelated party, and its sole shareholder Ms. Ding Yumei whereby the Company issued 974,571 shares of its common stock (the“Shares”) to Ms. Ding Yumei, the designee and sole shareholder of Guangzhou Hengda, to partially repay the outstanding balance due to Guangzhou Hengda by $4.8 million. The Company recorded paid-in-capital based on the market price of its common stock on the date of debt settlement at $1.48 per share, totaling $1.4 million and a gain from debt settlement totaling $3.4 million for the year ended December 31, 2011, respectively, which was the difference between the amount of debt extinguished and the fair value of the Shares issued in the settlement. | |
Gain from debt settlement | Government grant | |
On June 16, 2011, the Company and Maoming Hengda entered into a Debt Repayment Agreement with Guangzhou Hengda, an unrelated party, and its sole shareholder Ms Ding Yumei whereby the Company issued 974,571 shares of its common stock (the “Shares”) to Ms Ding Yumei, the designee and sole shareholder of Guangzhou Hengda, to partially repay the outstanding balance due to Guangzhou Hengda by $4.9 million. The Company recorded paid-in-capital based on the market price of its common stock on the date of debt settlement at $1.48 per share, totaling $1.4 million and a gain from debt settlement totaling $0 and $3.4 million for the three and nine months ended September 30, 2011, respectively, which was the difference between the amount of debt extinguished and the fair value of the Shares issued in the settlement. | On November 8, 2013 and December 31, 2013, the Company received government grants totaling $4.2 million (RMB 26.1 million) from the local government as production equipment upgrade incentive and rural urbanization development incentive for building material suppliers. | |
On June 14, 2012 and December 31, 2012, the Company received government grants totaling $2.3 million (RMB 14.2 million) from the local government as economic development incentive for building material manufacturers, such as steel rebar and cement. | ||
Realized income from future contracts | ||
On May 2011, the Company entered a forward contract with one unrelated party to minimize the economic impact of price fluctuations of steel rebar. The contract was not material and only represented less than 1% of the company’s anticipated rebar sales in 2011. The Company has not designated the derivative as a hedging instrument, and, as such, includes the realized gain or loss in other income (expense). For the year ended December 31, 2011, the Company realized$0.4 million gain on these contracts. There was no cash deposit held in the brokerage account and no trading financial assets and no open contracts held as of December 31, 2011. There are no required minimum investment amount and no specific contract period requirement on this future brokerage contract. The contract amount may be withdrawn at any time. | ||
On May 2010, the Company entered a forward contract with one unrelated party to minimize the economic impact of price fluctuations of steel rebar. The contract was not material and only represented less than 1% of the Company’s anticipated rebar sales in 2010. The Company has not designated the derivative as a hedging instrument, and, as such, includes the realized gain or loss in other income (expense). For the year ended December 31, 2010, the Company realized $1.4 million gain on these contracts. There was no cash deposit held in the brokerage account and no trading financial assets and no open contacts held as of December 31, 2010. There are no required minimum investment amount and no specific contract period requirement on this future brokerage contract. The contract amount may be withdrawn at any time. | ||
Lease income | ||
The deferred lease income from the reimbursement from Shaanxi Steel for the net book value of the fixed assets that were demolished and for the inefficiency costs caused by the construction and loss incurred in the beginning stages of the system production is amortized to income over the remaining sub-lease term. For the year ended December 31, 2013, 2012, 2011 and 2010, the Company recognized lease income of $2.2 million, $2.1 million, $2.0 million and $0.9 million, respectively. | ||
Gain on deconsolidation of a subsidiary | ||
On November 19, 2013, the Company sold its 28% equity interest of Tianwu held by Yangpu Shengtong to Tianjin Dazhan Industry Co., Ltd., a related party through indirect common ownership, for $13.6 million (RMB 84.3 million) while retaining 32% interest held by General Steel (China). As a result of this transaction, the Company met the criteria under ASC 810-10-40-4 to deconsolidate Tianwu at disposal date and recognized a gain in accordance with ASC 810-10-40-5. At the same time, Tianwu’s cumulative translation adjustment as of the disposal date was released to net income in accordance with ASC 830-30-40-1A. At the time of deconsolidation, the fair value of the 32% equity interest retained by General Steel (China) was $15.3 million (RMB 96.3 million), which was based on an independent third-party valuation, while Tianwu’s carrying value was $48.2 million (RMB 301.0 million). $19.4 million (RMB 121.2 million) noncontrolling interest in Tianwu was deconsolidated (see Note 22 – Equity) while 0.9 million cumulative translation adjustment was released to net income. The total gain from the deconsolidation of Tianwu was approximately $1.0 million. | ||
Payment for public highway construction | ||
During 2013, Longmen Joint Venture paid $6.5 million (RMB 40 million) for the construction of an exit ramp from a highway that leads to its facility. Total costs for this project is approximately $8.0 million (RMB 49 million) for Longmen Joint venture. Longmen Joint Venture will not be able to obtain any easement rights, land use rights or exclusive rights after the completion of the exit ramp. Therefore, this payment was recorded as an expense for the year ended December 31, 2013. | ||
Taxes
Taxes | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2013 | |||||||||||||||||||||||||||
Income Tax Disclosure [Abstract] | ' | ' | ||||||||||||||||||||||||||
Income Tax Disclosure [Text Block] | ' | ' | ||||||||||||||||||||||||||
Note 19 – Taxes | Note 19 – Taxes | |||||||||||||||||||||||||||
Income tax | Income tax | |||||||||||||||||||||||||||
Significant components of the provision for income taxes on earnings and deferred taxes on net operating losses from operations for the three months ended September 30, 2013, 2012, 2011 and 2010 are as follows: | Significant components of the provision for income taxes on earnings and deferred taxes on net operating losses from operations for the years ended December 31, 2013, 2012, 2011 and 2010 are as follows: | |||||||||||||||||||||||||||
For the three months ended | For the nine months ended | (In thousands) | For the year ended | For the year ended | For the year ended | For the year ended | ||||||||||||||||||||||
(In thousands) | September 30, | September 30, | September 30, | September | December 31, | December 31, | December 31, | December 31, | ||||||||||||||||||||
2013 | 2012 | 2013 | 30, 2012 | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||||
Current | $ | 25 | $ | 100 | $ | 201 | $ | 510 | Current | $ | 354 | $ | 627 | $ | 175 | $ | 1267 | |||||||||||
Deferred | - | - | - | 169 | Deferred | - | 169 | 15,419 | -10,049 | |||||||||||||||||||
Total provision for income taxes | $ | 25 | $ | 100 | $ | 201 | $ | 679 | Total provision for income taxes | $ | 354 | $ | 796 | $ | 15,594 | $ | -8,782 | |||||||||||
Three months ended | Nine months ended | Under the Income Tax Laws of the PRC, General Steel (China), Baotou Steel Pipe Joint Venture (located in Inner Mongolia province), Maoming Hengda (located in Guangdong province) and Tianwu Joint Venture (located in Tianjin Port Free Trade Zone) are subject to income tax at a rate of 25%. | ||||||||||||||||||||||||||
(In thousands) | September 30, | September 30, | September 30, | September 30, | ||||||||||||||||||||||||
2011 | 2010 | 2011 | 2010 | Longmen Joint Venture is located in the Mid-West region of China and as such, qualifies for the “Go-West” tax rate of 15% promulgated by the government. In 2010, the Chinese government announced that the “Go-West” tax initiative would be extended for 10 years, and thus, the preferential tax rate of 15% will be in effect until 2020. This special tax treatment for Longmen Joint Venture will be evaluated on a year-to-year basis by the local tax bureau. | ||||||||||||||||||||||||
Current | $ | 410 | $ | 5,332 | $ | 617 | $ | 860 | ||||||||||||||||||||
Deferred | 144 | -5,676 | 15,384 | -5,944 | The following table reconciles the U.S. statutory rates to the Company’s effective tax rate for the years ended December 31, 2013, 2012, 2011 and 2010 are as follows: | |||||||||||||||||||||||
Total provision (benefit) for income taxes | $ | 554 | $ | -344 | $ | 16,001 | $ | -5,084 | ||||||||||||||||||||
December 31, | December 31, | December 31, | December 31, | |||||||||||||||||||||||||
For the three months ended | For the six months ended | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||||||
(In thousands) | June 30, 2013 | June 30, 2012 | June 30, 2013 | June 30, 2012 | ||||||||||||||||||||||||
Current | $ | 105 | $ | 43 | $ | 176 | $ | 410 | U.S. Statutory rates | 34 | % | 34 | % | 34 | % | 34 | % | |||||||||||
Deferred | - | - | - | 169 | Foreign income not recognized in the U.S. | -34 | % | -34 | % | -34 | % | -34 | % | |||||||||||||||
Total provision for income taxes | $ | 105 | $ | 43 | $ | 176 | $ | 579 | China income tax rate | 25 | % | 25 | % | 25 | % | 25 | % | |||||||||||
Current year tax loss that were not recognized as deferred tax assets | - | - | -17.1 | % | 2.3 | % | ||||||||||||||||||||||
Three months ended | Six months ended | Effect of tax rate differential of subsidiaries/VIE | -12 | % | -8.3 | % | 13.6 | % | -12.3 | % | ||||||||||||||||||
(In thousands) | June 30, 2011 | June 30, 2010 | June 30, 2011 | June 30, 2010 | Effect of change in deferred tax assets valuation allowance | -58.4 | % | -10.9 | % | -27.3 | % | 2.3 | % | |||||||||||||||
Current | $ | - | $ | - | $ | 207 | $ | 606 | Effect of permanent difference – change in fair value of profit sharing liability | 61.9 | % | - | - | - | ||||||||||||||
Deferred | 18,198 | -2,803 | 15,240 | -5,346 | Effect of permanent difference – capital lease obligation for iron and steel production facilities | -17.3 | % | -6.1 | % | |||||||||||||||||||
Provision (benefit) for income taxes | $ | 18,198 | $ | -2,803 | $ | 15,447 | $ | -4,740 | Total provision for income taxes* | -0.8 | % | -0.3 | % | -5.8 | % | 15 | % | |||||||||||
(In thousands) | For the three months ended | For the three months ended | *The negative effective tax rates for the years ended December 31, 2013, 2012 and 2011 were mainly due to a consolidated loss before income tax while the Company provided 100% valuation allowance for the deferred tax assets at subsidiaries with losses and incurred income tax expenses in our profitable subsidiaries. | |||||||||||||||||||||||||
March 31, 2013 | March 31, 2012 | |||||||||||||||||||||||||||
Current | $ | 71 | $ | 367 | Deferred taxes assets – China | |||||||||||||||||||||||
Deferred | - | 169 | ||||||||||||||||||||||||||
Total provision for income taxes | $ | 71 | $ | 536 | According to Chinese tax regulations, net operating losses can be carried forward to offset operating income for the next five years. The Group’s losses carried forward of $493.7 million will begin to expire in 2014. The Chinese government recently announced several policies to curb the real estate price increases across the country which led to a slowdown in demand for construction steel products. Additionally due to the continued global economic slowdown and the overcapacity issues in China's steel market, management expected there would be a sustained increase in margin pressure in the next five years until all the existing but outdated steel capacity across the whole industry are eliminated. Management took into consideration this potential negative impact on average selling price and gross margin of its products, re-performed an operating forecast for the next five years and concluded that the beginning-of-the-year balance of deferred tax assets mainly relating to the net operating loss carry forward may not be fully realizable due to the reduction in the projection of income to be available in the next 5 years. Management therefore decided to provide 100% valuation allowance for the deferred tax assets. The valuation allowance as of December 31, 2013, 2012, 2011 and 2010 was $97.6 million, $72.9 million, $47.7 million and $0, respectively. Management will review this valuation allowance periodically and make adjustments as warranted. Temporary differences represent tax and book differences in various items, such as receivable allowances, inventory allowances, impairments on fixed assets and deferred lease income. | |||||||||||||||||||||||
Under the Income Tax Laws of the PRC, General Steel (China), Baotou Steel Pipe Joint Venture (located in Inner Mongolia province), Maoming Hengda (located in Guangdong province) and Tianwu Joint Venture (located in Tianjin Port Free Trade Zone) are subject to income tax at a rate of 25%. | The movement of the deferred income tax assets arising from carried forward losses is as follows: | |||||||||||||||||||||||||||
Longmen Joint Venture is located in the Mid-West region of China and as such, qualifies for the “Go-West” tax rate of 15% promulgated by the government. In 2010, the Chinese government announced that the “Go-West” tax initiative would be extended for 10 years, and thus, the preferential tax rate of 15% will be in effect until 2020. This special tax treatment for Longmen Joint Venture will be evaluated on a year-to-year basis by the local tax bureau. | December 31, | December 31, | December 31, | December 31, | ||||||||||||||||||||||||
2013 | 2012 | 2011 | 2010 | |||||||||||||||||||||||||
Deferred taxes assets – China | (in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||
Beginning balance | $ | - | (A) | $ | 167 | (A) | $ | 15,301 | (A) | $ | 5,044 | (A) | ||||||||||||||||
According to Chinese tax regulations, net operating losses can be carried forward to offset operating income for the next five years. The Group’s losses carried forward of $436.9 million will begin to expire in 2014. The Chinese government recently announced several policies to curb the real estate price increases across the country which led to a slowdown in demand for construction steel products. Additionally due to the continued global economic slowdown and the overcapacity issues in China's steel market, management expected there would be a sustained increase in margin pressure in the next five years until all the existing but outdated steel capacity across the whole industry are eliminated. Management took into consideration this potential negative impact on average selling price and gross margin of its products, re-performed an operating forecast for the next five years and concluded that the beginning-of-the-year balance of deferred tax assets mainly relating to the net operating loss carry forward may not be fully realizable due to the reduction in the projection of income to be available in the next 5 years. Management therefore decided to provide 100% valuation allowance for the deferred tax assets. The valuation allowance as of September 30, 2013, June 30, 2013, March 31, 2013, December 31, 2012, September 30, 2012, June 30, 2012, March 31, 2012, December 31, 2011, September 30, 2011, June 30, 2011 and December 31, 2010 was $86.9 million, $84.8 million, $75.8 million, $72.9 million, $59.9 million, $61.6 million, $54.9 million, $47.7 million, $23.8 million, $19.6 million and $0, respectively. Management will review this valuation allowance periodically and make adjustments as warranted. Temporary differences, representing tax and book differences in various items, such as receivable allowances, inventory allowances, impairments on fixed assets and deferred lease income. | (Tax assets realized) net operating losses carried forward for subsidiaries subject to a 25% tax rate | -272 | 2,484 | 912 | 1,062 | |||||||||||||||||||||||
Effective tax rate | 25 | % | 25 | % | 25 | % | 25 | % | ||||||||||||||||||||
Movement of valuation allowance: | Addition (deduction) in deferred tax asset | -68 | (B) | 621 | (B) | 228 | (B) | 266 | (B) | |||||||||||||||||||
Net operating losses carried forward for Longmen Joint Venture and subsidiaries subject to a 15% tax rate | 143,873 | 95,453 | 143,180 | 8,488 | ||||||||||||||||||||||||
September 30, | June 30, | March 31, | December 31, | Effective tax rate | 15 | % | 15 | % | 15 | % | 15 | % | ||||||||||||||||
2013 | 2013 | 2013 | 2012 | Addition in deferred tax asset | 21,581 | (C) | 14,318 | (C) | 1,528 | (C) | 1,273 | (C) | ||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | Temporary difference carried forward for subsidiaries subject to a 25% tax rate | -2,697 | 22,427 | 6,112 | 1,281 | ||||||||||||||||||||
Beginning balance | $ | 72,891 | $ | 72,891 | $ | 72,891 | $ | 47,703 | Effective tax rate | 25 | % | 25 | % | 25 | % | 25 | % | |||||||||||
Current period addition | 12,776 | 11,006 | 2,912 | 25,180 | Addition (deduction) in deferred tax asset | -674 | (D) | 5,607 | (D) | 1,528 | (D) | 320 | (D) | |||||||||||||||
Current period reversal | -857 | -694 | -465 | - | Temporary difference carried forward for subsidiaries subject to a 15% tax rate | 10,282 | 29,836 | 58,611 | 56,531 | |||||||||||||||||||
Deconsolidation of Tongxing | - | - | - | -216 | Effective tax rate | 15 | % | 15 | % | 15 | % | 15 | % | |||||||||||||||
Exchange difference | 2,125 | 1,626 | 417 | 224 | Addition (deduction) in deferred tax asset | 1,542 | (E) | 4,475 | (E) | 8,792 | (E) | 8,480 | (E) | |||||||||||||||
Ending balance | $ | 86,935 | $ | 84,829 | $ | 75,755 | $ | 72,891 | Addition in valuation allowance | -22,087 | (F) | -25,180 | (F) | -46,914 | (F) | - | (F) | |||||||||||
Deconsolidation of Tongxing | - | (G) | -216 | (G) | - | (G) | - | (G) | ||||||||||||||||||||
September 30, | June 30, | March 31, | December 31, | Exchange difference | -294 | (H) | 208 | (H) | -245 | (H) | -82 | (H) | ||||||||||||||||
2012 | 2012 | 2012 | 2011 | Total (A+B+C+D+E+F+G+H) | $ | - | $ | - | $ | 167 | $ | 15,301 | ||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||||||
Beginning balance | $ | 47,703 | $ | 47,703 | $ | 47,703 | $ | - | Movement of valuation allowance: | |||||||||||||||||||
Current period addition | 22,144 | 13,868 | 7,194 | 46,914 | ||||||||||||||||||||||||
Current period reversal | - | - | - | - | December 31, | December 31, | December 31, | December 31, | ||||||||||||||||||||
Deconsolidation of Tongxing | -216 | -216 | -216 | - | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||||
Exchange difference | 185 | 202 | 198 | 789 | (in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||
Ending balance | $ | 69,816 | $ | 61,557 | $ | 54,879 | $ | 47,703 | Beginning balance | $ | 72,891 | $ | 47,703 | $ | - | $ | - | |||||||||||
Current period addition | 23,293 | 25,180 | 46,914 | - | ||||||||||||||||||||||||
September 30, 2011 | June 30, 2011 | December 31, 2010 | Current period reversal | -1,206 | - | - | - | |||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | Deconsolidation of Tongxing | - | -216 | - | - | |||||||||||||||||||||
Beginning balance | $ | - | $ | - | $ | - | Exchange difference | 2,591 | 224 | 789 | - | |||||||||||||||||
Current period addition | 23,670 | 19,571 | - | Ending balance | $ | 97,569 | $ | 72,891 | $ | 47,703 | $ | - | ||||||||||||||||
Current period reversal | - | - | - | |||||||||||||||||||||||||
Exchange difference | 131 | Deferred taxes assets – U.S. | ||||||||||||||||||||||||||
Ending balance | $ | 23,801 | $ | 19,571 | $ | - | ||||||||||||||||||||||
General Steel Holdings, Inc. was incorporated in the United States and has incurred net operating losses for income tax purposes for the year ended December 31, 2013. The net operating loss carry forwards for United States income taxes amounted to $1.9 million, which may be available to reduce future years’ taxable income. These carry forwards will expire, if not utilized, starting from 2026 through 2032. Management believes that the realization of the benefits from these losses appears uncertain due to the Company’s limited operating history and continuing losses for United States income tax purposes. Accordingly, the Company has provided a 100% valuation allowance on the deferred tax asset benefit to reduce the asset to zero. The valuation allowance as of December 31, 2013 was $0.7 million. The net change in the valuation allowance for the year ended December 31, 2013 was $0.2 million. Management will review this valuation allowance periodically and make adjustments as warranted. | ||||||||||||||||||||||||||||
Deferred taxes assets – U.S. | The Company has no cumulative proportionate retained earnings from profitable subsidiaries as of December 31, 2013. Accordingly, no provision has been made for U.S. deferred taxes related to future repatriation of these earnings, nor is it practicable to estimate the amount of income taxes that would have to be provided if we concluded that such earnings will be remitted in the future. | |||||||||||||||||||||||||||
General Steel Holdings, Inc. was incorporated in the United States and has incurred net operating losses for income tax purposes for the nine months ended September 30, 2013. The net operating loss carry forwards for United States income taxes amounted to $1.6 million, which may be available to reduce future years’ taxable income. These carry forwards will expire, if not utilized, starting from 2026 through 2032. Management believes that the realization of the benefits from these losses appears uncertain due to the Company’s limited operating history and continuing losses for United States income tax purposes. Accordingly, the Company has provided a 100% valuation allowance on the deferred tax asset benefit to reduce the asset to zero. The valuation allowance as of September 30, 2013 was $0.5 million. The net change in the valuation allowance for the nine months ended September 30, 2013 was $0. Management will review this valuation allowance periodically and make adjustments as warranted. | Value added tax | |||||||||||||||||||||||||||
The Company has cumulative proportionate retained earnings from profitable subsidiaries of approximately $0.1 million as of September 30, 2013. Accordingly, no provision has been made for U.S. deferred taxes related to future repatriation of these earnings, nor is it practicable to estimate the amount of income taxes that would have to be provided if we concluded that such earnings will be remitted in the future. | Enterprises or individuals who sell commodities, engage in repair and maintenance or import and export goods in the PRC are subject to a value added tax in accordance with PRC laws. The value added tax (“VAT”) standard rates are 13% to 17% of the gross sales price. A credit is available whereby VAT paid on the purchases of semi-finished products or raw materials used in the production of the Company’s finished products can be used to offset the VAT due on sales of the finished product. As of December 31, 2013, 2012, 2011 and 2010, the Company had $3.5 million, $4.2 million, $20.4 million and $37.3 million in value added tax credit which are available to offset future VAT payables, respectively. | |||||||||||||||||||||||||||
Value added tax | Sales and purchases are recorded net of VAT collected and paid as the Company acts as an agent for the government for VAT collection. VAT on sales and VAT on purchases amounted to $751.6 million and $713.5 million, respectively, for the year ended December 31, 2013 and $812.4 million and $985.9 million, respectively, for the year ended December 31, 2012. Sales and purchases are recorded net of VAT collected and paid as the Company acts as an agent for the government for VAT collection. VAT on sales and VAT on purchases amounted to $985.9 million and $934.2 million, respectively, for the year ended December 31, 2011, $519.0 million and $482.4 million, respectively, for the year ended December 31, 2010. | |||||||||||||||||||||||||||
Enterprises or individuals who sell commodities, engage in repair and maintenance or import and export goods in the PRC are subject to a value added tax in accordance with PRC laws. The value added tax (“VAT”) standard rates are 13% to 17% of the gross sales price. A credit is available whereby VAT paid on the purchases of semi-finished products or raw materials used in the production of the Company’s finished products can be used to offset the VAT due on sales of the finished product. As of September 30, 2013, June 30, 2013, March 31, 2013, December 31, 2012, September 30, 2012, June 30, 2012, March 31, 2012, December 31, 2011, September 30, 2011, June 30, 2011 and December 31, 2010, the Company had $3.1 million, $3.0 million, $3.4 million, $4.2 million, $2.3 million, $2.9 million, $1.6 million, $5.8 million $15.2 million, $15.5 million and $37.3 million in value added tax credit which are available to offset future VAT payables, respectively. | Taxes payable consisted of the following: | |||||||||||||||||||||||||||
Sales and purchases are recorded net of VAT collected and paid as the Company acts as an agent for the government for VAT collection. VAT on sales and VAT on purchases amounted to $160.5 million and $156.2 million, respectively, for the three months ended September 30, 2013, $209.7 million and $206.7 million, respectively, for the three months ended September 30, 2012, $307.3 million and $301.1 million, respectively, for the three months ended September 30, 2011, and $128.1 million and $131.4 million, respectively, for the three months ended September 30, 2010. VAT on sales and VAT on purchases amounted to $513.7 million and $494.4 million, respectively, for the nine months ended September 30, 2013, $620.6 million and $594.1 million, respectively, for the nine months ended September 30, 2012, $775.5 million and $729.0 million, respectively, for the nine months ended September 30, 2011, $386.7 million and $357.8 million, respectively, for the nine months ended September 30, 2010. | December 31, 2013 | December 31, 2012 | 31-Dec-11 | 31-Dec-10 | ||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||||||
Sales and purchases are recorded net of VAT collected and paid as the Company acts as an agent for the government for VAT collection. VAT on sales and VAT on purchases amounted to $164.8 million and $154.4 million, respectively, for the three months ended June 30, 2013 and $226.1 million and $216.0 million, respectively, for the three months ended June 30, 2012, $253.7 million and $251.1 million, respectively, for the three months ended June 30, 2011, and $141.0 million and $138.6 million for the three months ended June 30, 2010, respectively. VAT on sales and VAT on purchases amounted to $353.2 million and $338.2 million, respectively, for the six months ended June 30, 2013, $407.3 million and $387.4 million, respectively, for the six months ended June 30, 2012, $468.2 million and $428.0 million, respectively, for the six months ended June 30, 2011, and $258.5 million and $226.4 million, respectively, for the six months ended June 30, 2010.. | VAT taxes payable | $ | 2,211 | $ | 13,579 | $ | 4,856 | $ | 3,921 | |||||||||||||||||||
Income taxes payable | 173 | 68 | 96 | 840 | ||||||||||||||||||||||||
Sales and purchases are recorded net of VAT collected and paid as the Company acts as an agent for the government for VAT collection. VAT on sales and VAT on purchases amounted to $183.2 million and $183.8 million, respectively, for the three months ended March 31, 2013 and $179.5 million and $171.3 million, respectively, for the three months ended March 31, 2012, and $214.5 million and $176.9 million, respectively, for the three months ended March 31, 2011. | Misc. taxes | 2,244 | 3,027 | 6,422 | 1,476 | |||||||||||||||||||||||
Total | $ | 4,628 | $ | 16,674 | $ | 11,374 | $ | 6,237 | ||||||||||||||||||||
Taxes payable consisted of the following: | ||||||||||||||||||||||||||||
September 30, | June 30, | March 31, | December 31, | |||||||||||||||||||||||||
2013 | 2013 | 2013 | 2012 | |||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||||||
VAT taxes payable | $ | 7,309 | $ | 6,993 | $ | 8,432 | $ | 13,579 | ||||||||||||||||||||
Income taxes payable | 20 | 67 | 44 | 68 | ||||||||||||||||||||||||
Misc. taxes | 2,387 | 3,250 | 3,858 | 3,027 | ||||||||||||||||||||||||
Total | $ | 9,716 | $ | 10,310 | $ | 12,334 | $ | 16,674 | ||||||||||||||||||||
September 30, | June 30, | March 31, | December 31, | |||||||||||||||||||||||||
2012 | 2012 | 2012 | 2011 | |||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||||||
VAT taxes payable | $ | 3,869 | $ | 2,351 | $ | 30 | $ | 4,856 | ||||||||||||||||||||
Income taxes payable | 124 | 153 | 147 | 96 | ||||||||||||||||||||||||
Misc. taxes | 2,505 | 4,417 | 5,178 | 6,422 | ||||||||||||||||||||||||
Total | $ | 6,498 | $ | 6,921 | $ | 5,355 | $ | 11,374 | ||||||||||||||||||||
September 30, 2011 | June 30, 2011 | December 31, 2010 | ||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||
VAT taxes payable | $ | 6,402 | $ | 7,818 | $ | 3,921 | ||||||||||||||||||||||
Income taxes payable | 873 | 586 | 840 | |||||||||||||||||||||||||
Misc. taxes | 4,745 | 4,286 | 1,476 | |||||||||||||||||||||||||
Total | $ | 12,020 | $ | 12,690 | $ | 6,237 | ||||||||||||||||||||||
Loss_per_share
Loss per share | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2013 | |||||||||||||||||||||||||||
Earnings Per Share [Abstract] | ' | ' | ||||||||||||||||||||||||||
Earnings Per Share [Text Block] | ' | ' | ||||||||||||||||||||||||||
Note 20 – Earnings (Loss) per share | Note 20 –Loss per share | |||||||||||||||||||||||||||
The computation of earnings (loss) per share is as follows: | The computation of loss per share is as follows: | |||||||||||||||||||||||||||
(in thousands, except per share data) | (in thousands, except per | For the year ended | For the year ended | For the year ended | For the year ended | |||||||||||||||||||||||
For the three | For the three months ended | share data) | 31-Dec-13 | 31-Dec-12 | 31-Dec-11 | 31-Dec-10 | ||||||||||||||||||||||
months ended | September 30, 2012 | Loss attributable to holders of common stock | $ | -33,016 | $ | -152,697 | $ | -177,187 | $ | -30,006 | ||||||||||||||||||
September 30, 2013 | Basic and diluted weighted average number of common shares outstanding | 55,126 | 54,867 | 54,750 | 53,113 | |||||||||||||||||||||||
Income (loss) attributable to holders of common stock | $ | 3,801 | $ | -41,598 | Loss per share | |||||||||||||||||||||||
Basic and diluted weighted average number of common shares outstanding | 55,141 | 54,466 | Basic and diluted | $ | -0.6 | $ | -2.78 | $ | -3.24 | $ | -0.56 | |||||||||||||||||
Earnings (loss) per share | ||||||||||||||||||||||||||||
Basic and diluted | $ | 0.07 | $ | -0.76 | The Company had warrants exercisable for 3,900,871 shares of the Company’s common stock at December 31, 2012. For the year ended December 31, 2012, all outstanding warrants were excluded from the diluted earnings per share calculation since they are anti-dilutive. | |||||||||||||||||||||||
(in thousands except per share data) | Other than the aforementioned potentially dilutive securities, there were no other potentially dilutive securities outstanding for the years ended December 31, 2013, 2012, 2011 and 2010. | |||||||||||||||||||||||||||
For the three | For the three | |||||||||||||||||||||||||||
months ended | months ended | |||||||||||||||||||||||||||
September 30, 2011 | September 30, 2010 | |||||||||||||||||||||||||||
Loss attributable to holders of common shares | $ | -13,830 | $ | -3,784 | ||||||||||||||||||||||||
Basic and diluted weighted average number of common shares outstanding | 55,166 | 53,941 | ||||||||||||||||||||||||||
Loss per share | ||||||||||||||||||||||||||||
Basic and diluted | $ | -0.25 | $ | -0.07 | ||||||||||||||||||||||||
For the nine | For the nine | |||||||||||||||||||||||||||
months ended | months ended | |||||||||||||||||||||||||||
September 30, 2013 | September 30, 2012 | |||||||||||||||||||||||||||
Loss attributable to holders of | $ | -32,914 | $ | -102,759 | ||||||||||||||||||||||||
common stock | ||||||||||||||||||||||||||||
Basic and diluted weighted average number of common shares outstanding | 54,976 | 54,946 | ||||||||||||||||||||||||||
Loss per share | ||||||||||||||||||||||||||||
Basic and diluted | $ | -0.6 | $ | -1.87 | ||||||||||||||||||||||||
For the nine | For the nine | |||||||||||||||||||||||||||
months ended | months ended | |||||||||||||||||||||||||||
(in thousands except per share data) | September 30, 2011 | September 30, 2010 | ||||||||||||||||||||||||||
Loss attributable to holders of common shares | $ | -45,662 | $ | -11,400 | ||||||||||||||||||||||||
Basic and diluted weighted average number of common shares outstanding | 54,547 | 52,577 | ||||||||||||||||||||||||||
Loss per share | ||||||||||||||||||||||||||||
Basic and diluted | $ | -0.84 | $ | -0.22 | ||||||||||||||||||||||||
For the three | For the three | |||||||||||||||||||||||||||
months ended | months ended | |||||||||||||||||||||||||||
June 30, 2013 | June 30, 2012 | |||||||||||||||||||||||||||
Loss attributable to holders of common stock | $ | -39,818 | $ | -26,377 | ||||||||||||||||||||||||
Basic and diluted weighted average number of common shares outstanding | 54,980 | 54,857 | ||||||||||||||||||||||||||
Loss per share | ||||||||||||||||||||||||||||
Basic and diluted | $ | -0.72 | $ | -0.48 | ||||||||||||||||||||||||
For the six | For the six | |||||||||||||||||||||||||||
months ended | months ended | |||||||||||||||||||||||||||
June 30, 2013 | June 30, 2012 | |||||||||||||||||||||||||||
Loss attributable to holders of common stock | $ | -36,715 | $ | -61,161 | ||||||||||||||||||||||||
Basic and diluted weighted average number of common shares outstanding | 54,893 | 55,188 | ||||||||||||||||||||||||||
Loss per share | ||||||||||||||||||||||||||||
Basic and diluted | $ | -0.67 | $ | -1.11 | ||||||||||||||||||||||||
Three months ended | Six months ended June 30 | |||||||||||||||||||||||||||
June 30 | ||||||||||||||||||||||||||||
(in thousands except per share data) | 2011 | 2010 | 2011 | 2010 | ||||||||||||||||||||||||
Loss attributable to holders of common stock | $ | -22,915 | $ | -2,004 | $ | -31,832 | $ | -7,616 | ||||||||||||||||||||
Basic and diluted weighted average number of common shares outstanding | 54,318 | 52,112 | 54,233 | 51,883 | ||||||||||||||||||||||||
Loss per share | ||||||||||||||||||||||||||||
Basic and diluted | $ | -0.42 | $ | -0.04 | $ | -0.59 | $ | -0.15 | ||||||||||||||||||||
For the three months | For the three months | |||||||||||||||||||||||||||
ended March 31, 2013 | ended March 31, 2012 | |||||||||||||||||||||||||||
Income (loss) attributable to holders of common stock | $ | 3,103 | $ | -34,784 | ||||||||||||||||||||||||
Basic and diluted weighted average number of common shares outstanding | 54,805 | 55,520 | ||||||||||||||||||||||||||
Earnings (loss) per share | ||||||||||||||||||||||||||||
Basic and diluted | $ | 0.06 | $ | -0.63 | ||||||||||||||||||||||||
The Company had warrants exercisable for 3,900,871 shares of the Company’s common stock at September 30, 2012. For the three and nine months ended September 30, 2012, all outstanding warrants were excluded from the diluted earnings per share calculation since they are anti-dilutive. | ||||||||||||||||||||||||||||
Other than the aforementioned potentially dilutive securities, there were no other potentially dilutive securities outstanding for the three and nine months ended September 30, 2013 and 2012. | ||||||||||||||||||||||||||||
Related_party_transactions_and
Related party transactions and balances | 9 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2013 | ||||||||||||||||||||||||||||||||||
Related Party Transactions [Abstract] | ' | ' | |||||||||||||||||||||||||||||||||
Related Party Transactions Disclosure [Text Block] | ' | ' | |||||||||||||||||||||||||||||||||
Note 21 – Related party transactions and balances | Note 21 – Related party transactions and balances | ||||||||||||||||||||||||||||||||||
Related party transactions | Related party transactions | ||||||||||||||||||||||||||||||||||
a. | Capital lease | a. | Capital lease | ||||||||||||||||||||||||||||||||
As disclosed in Notes 16 – “Capital lease obligations”, Longmen Joint Venture entered into a capital lease arrangement on April 29, 2011, with Shaanxi Coal and Shaanxi Steel, which are related parties of the Group. The following is an analysis of the leased assets under the capital lease: | As disclosed in Notes 16 – “Capital lease obligations”, Longmen Joint Venture entered into a capital lease arrangement on April 29, 2011, with Shaanxi Coal and Shaanxi Steel, which are related parties of the Group. The following is an analysis of the leased assets under the capital lease: | ||||||||||||||||||||||||||||||||||
September 30, | June 30, | March 31, | December 31, | December 31, | December 31, | December 31, | December 31, | ||||||||||||||||||||||||||||
2013 | 2013 | 2013 | 2012 | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||
Machinery | $ | 603,248 | $ | 599,547 | $ | 590,665 | $ | 587,334 | Machinery | $ | 605,839 | $ | 587,334 | $ | 581,413 | $ | - | ||||||||||||||||||
Less: accumulated depreciation | -69,248 | -61,703 | -53,775 | -46,497 | Less: accumulated depreciation | -76,740 | -46,497 | -18,411 | - | ||||||||||||||||||||||||||
Carrying value of leased assets | $ | 534,000 | $ | 537,844 | $ | 536,890 | $ | 540,837 | Carrying value of leased assets | $ | 529,099 | $ | 540,837 | $ | 563,002 | $ | - | ||||||||||||||||||
September 30, | June 30, | March 31, | December 31, | b. On January 1, 2010, General Steel (China), entered into a lease agreement with Tianjin Daqiuzhuang Steel Plates Co., Ltd. (the “Lessee”), whereby General Steel (China) leases its facility located at No. 1, Tonga Street, Daqiuzhuang Town, Jinghai County, Tianjin City to the Lessee (the “Lease Agreement”). The Lease Agreement provides approximately 776,078 square feet of workshops, land, equipment and other facilities amounting to RMB 215.8 million ($34.4 million) to the Lessee and allows the Company to reduce overhead costs while providing a recurring monthly income stream resulting from payments due under the lease. The term of the Lease Agreement was from January 1, 2010 to December 31, 2011 and the monthly base rental rate due to General Steel (China) was approximately $0.2 million (RMB 1.7 million). On July 28, 2011, General Steel (China) (lessor) signed a supplemental agreement with the lessee to extend the lease for an additional five years to December 31, 2016. However, due to current steel market conditions, the lessee informed the Company that they did not intend to extend the lease at June 30, 2012 and has terminated the supplemental agreement early. There was no penalty for early termination. The Company assessed the recoverability of all of its remaining long lived assets at December 31, 2013 and such assessment did not result in any impairment charges. | |||||||||||||||||||||||||||||||
2012 | 2012 | 2012 | 2011 | ||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | For the year ended December 31, 2013, 2012, 2011 and 2010, General Steel (China) realized rental income $0 million , $1.6 million, $3.1 million and $3.1 million, respectively, which has been included in “other non-operating income (expense), net” in the consolidated statements of operations and comprehensive income (loss). | |||||||||||||||||||||||||||||||
Machinery | $ | 585,854 | $ | 586,594 | $ | 586,224 | $ | 581,413 | |||||||||||||||||||||||||||
Less: accumulated depreciation | -39,423 | -32,507 | -25,525 | -18,411 | c. | The following chart summarized sales to related parties for the years ended December 31, 2013, 2012, 2011 and 2010. | |||||||||||||||||||||||||||||
Carrying value of leased assets | $ | 546,431 | $ | 554,087 | $ | 560,699 | $ | 563,002 | |||||||||||||||||||||||||||
Name of | Relationship | For the year | For the year | For the year | For the year | ||||||||||||||||||||||||||||||
September 30, 2011 | June 30, 2011 | December 31, 2010 | Related parties | ended | ended | ended | ended | ||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | December 31, | December 31, | December 31, | December 31, | |||||||||||||||||||||||||||||
Machinery | $ | 579,192 | $ | 572,531 | $ | - | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||||||||
Less: accumulated depreciation | -11,463 | -4,533 | - | (in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||
Carrying value of leased assets | $ | 567,729 | $ | 567,998 | $ | - | Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | $ | 255,859 | $ | 438,951 | $ | 337,359 | $ | 344,556 | |||||||||||||||||||
Tianjin Hengying Trading Co., Ltd | Partially owned by CEO* through indirect shareholding | - | 5,953 | 94,984 | 47,268 | ||||||||||||||||||||||||||||||
b. On April 30, 2011, Tongxing completed its transfer of 20.7% share of Shaanxi Xinglong Thermoelectric Co., Ltd to the Labor Union Trust of Shaanxi Long Steel Group. The transfer price of $11.3 million (RMB 72.9 million) was considered to be at fair value based on management assessment. As of April 30, 2011, our investment in Xinglong was approximately $9.8 million and this transaction resulted in a gain of $1.5 million, which is included in “Income from equity investments” in the unaudited condensed consolidated statements of operation and other comprehensive income (loss). | Tianjin Dazhan Industry Co, Ltd | Partially owned by CEO through indirect shareholding | - | - | 76,130 | 43,778 | |||||||||||||||||||||||||||||
Sichuan Yutai Trading Co., Ltd | Significant influence by Long Steel Group** | 73 | 147,968 | 187,689 | - | ||||||||||||||||||||||||||||||
c. On January 1, 2010, General Steel (China), entered into a lease agreement with Tianjin Daqiuzhuang Steel Plates Co., Ltd. (the “Lessee”), whereby General Steel (China) leases its facility located at No. 1, Tonga Street, Daqiuzhuang Town, Jinghai County, Tianjin City to the Lessee (the “Lease Agreement”). The Lease Agreement provides approximately 776,078 square feet of workshops, land, equipment and other facilities amounting to RMB 215.8 million ($34.4 million) to the Lessee and allows the Company to reduce overhead costs while providing a recurring monthly income stream resulting from payments due under the lease. The term of the Lease Agreement was from January 1, 2010 to December 31, 2011 and the monthly base rental rate due to General Steel (China) was approximately $0.2 million (RMB 1.7 million). On July 28, 2011, General Steel (China) (lessor) signed a supplemental agreement with the lessee to extend the lease for an additional five years to December 31, 2016. However, due to current steel market conditions, the lessee informed the Company that they did not intend to extend the lease at June 30, 2012 and has terminated the supplemental agreement early. There was no penalty for early termination. The Company assessed the recoverability of all of its remaining long lived assets at September 30, 2013 and such assessment did not result in any other impairment charges for the three and nine months ended September 30, 2013. | Shaanxi Yuchang Trading Co., Ltd | Significant influence by Long Steel Group | 21,570 | 92,724 | 160,422 | - | |||||||||||||||||||||||||||||
Shaanxi Haiyan Trade Co., Ltd | Significant influence by Long Steel Group | 16,273 | 46,998 | 58,299 | 38,545 | ||||||||||||||||||||||||||||||
For the three months ended September 30, 2013, 2012, 2011 and 2010, General Steel (China) realized rental income of $0, $0, $0.8 million and $0.8 million, and for the nine months ended September 30, 2013, 2012, 2011 and 2010, General Steel (China) realized rental income $0 million, $1.6 million, $1.5 million and $2.3 million, respectively, which has been included in “other non-operating income (expense), net” in the unaudited condensed consolidated statements of operations and comprehensive income (loss). | Shaanxi Shenganda Trading Co., Ltd | Significant influence by Long Steel Group | 77,899 | 53,866 | 37,432 | - | |||||||||||||||||||||||||||||
Tianjin General Qiugang Pipe Co., Ltd | Partially owned by CEO through indirect shareholding | - | - | 20,014 | - | ||||||||||||||||||||||||||||||
For the three months ended June 30, 2013, 2012, 2011 and 2010, General Steel (China) realized rental income in each period of $0, $0.8 million, $0.8 million and $0.8 million, respectively, and for the six months ended June30, 2013, 2012, 2011 and 2010, General Steel (China) realized rental income $0 million, $1.6 million, $1.0 million and 1.5 million, respectively, which has been included in “other non-operating income (expense), net” in the unaudited condensed consolidated statements of operations and comprehensive income (loss). | Shaanxi Steel | Majority shareholder of Long Steel Group | 3,221 | 3,332 | 19,735 | 1,152 | |||||||||||||||||||||||||||||
Beijing Daishang Trading Co., Ltd. | Noncontrolling shareholder of Longmen Joint Venture’s subsidiary | - | - | - | 5,503 | ||||||||||||||||||||||||||||||
For the three months ended March 31, 2013, 2012 and 2011, General Steel (China) realized rental income in each period of $0, $0.8 million and $0.8 million, respectively, which has been included in “other non-operating income (expense), net” in the unaudited condensed consolidated statements of operations and comprehensive income (loss). | Tianjin Daqiuzhuang Steel Plates Co., Ltd. | Partially owned by CEO through indirect shareholding | - | - | - | 8,385 | |||||||||||||||||||||||||||||
Shaanxi Coal and Chemical Industry Group Co., Ltd. | Shareholder of Shaanxi Steel | 27,911 | 24,515 | - | - | ||||||||||||||||||||||||||||||
d. The following chart summarized sales to related parties for the three and nine months ended September 30, 2013, 2012, 2011 and 2010, for the three and six months ended June 30, 2013, 2012, 2011 and 2010, and for the three months ended March 31, 2013, 2012 and 2011. | Shaanxi Long Steel Group Baoji Steel Rolling Co., Ltd | Subsidiary of Long Steel Group | 7,325 | 35,542 | 69,872 | - | |||||||||||||||||||||||||||||
Shaanxi Junlong Rolling Co., Ltd | Investee of Long Steel Group | 37,068 | 47,110 | 48,991 | - | ||||||||||||||||||||||||||||||
Name of related parties | Relationship | Three months ended | Three months ended | Others | Entities either owned or have significant influence by our affiliates or management | - | 243 | 842 | 183 | ||||||||||||||||||||||||||
September 30, 2013 | September 30, 2012 | Total | $ | 447,199 | $ | 897,202 | $ | 1,111,769 | $ | 489,370 | |||||||||||||||||||||||||
(in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||||
Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | $ | 63,793 | $ | 123,631 | *The CEO is referred to herein as the chief executive officer of General Steel Holdings, Inc. | |||||||||||||||||||||||||||||
Sichuan Yutai Trading Co., Ltd | Significant influence by Long Steel Group* | - | 16,998 | ||||||||||||||||||||||||||||||||
Shaanxi Yuchang Trading Co., Ltd | Significant influence by Long Steel Group | 1,081 | - | **Long Steel Group has the ability to significantly influence the operating and financial decisions of the entity through equity ownership either directly or through key employees, commercial contractual terms, or the ability to assign management personnel. | |||||||||||||||||||||||||||||||
Shaanxi Haiyan Trade Co.,Ltd | Significant influence by Long Steel Group | 85 | 12,480 | ||||||||||||||||||||||||||||||||
Shaanxi Shenganda Trading Co., Ltd | Significant influence by Long Steel Group | 19,866 | 7,599 | d. | The following charts summarize purchases from related parties for the years ended December 31, 2013, 2012, 2011 and 2010. | ||||||||||||||||||||||||||||||
Shaanxi Steel | Majority shareholder of Long Steel Group | 979 | 25 | ||||||||||||||||||||||||||||||||
Shaanxi Long Steel Group Baoji Steel Rolling Co., Ltd | Subsidiary of Long Steel Group | 9 | 11,392 | Name of | Relationship | For the year | For the year | For the year | For the year | ||||||||||||||||||||||||||
Shaanxi Junlong Rolling Co., Ltd | Investee of Long Steel Group | 1,782 | 20,758 | related parties | ended | ended | ended | ended | |||||||||||||||||||||||||||
Shaanxi Coal and Chemical Industry Group Co., Ltd | Shareholder of Shaanxi Steel | 7,951 | - | December 31, | December 31, | December 31, | December 31, | ||||||||||||||||||||||||||||
Others | Entities either owned or have significant influence by our affiliates or management | - | - | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||||||||||||
Total | $ | 95,546 | $ | 192,883 | (in thousands) | (in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||||||||
Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | $ | 522,295 | $ | 483,058 | $ | 913,850 | $ | 553,752 | ||||||||||||||||||||||||||
*Long Steel Group has the ability to significantly influence the operating and financial decisions of the entity through equity ownership either directly or through key employees, commercial contractual terms, or the ability to assign management personnel. | Hancheng Jinma Coking Co., Ltd | Investee of Longmen Joint Venture’s subsidiary (unconsolidated) | - | - | 4,772 | 8,489 | |||||||||||||||||||||||||||||
Tianjin Hengying Trading Co., Ltd. | Partially owned by CEO through indirect shareholding | - | 43,160 | - | - | ||||||||||||||||||||||||||||||
Name of related parties | Relationship | Three months | Three months | Tianjin General Qiugang Pipe Co., Ltd. | Partially owned by CEO through indirect shareholding | - | 6,933 | - | - | ||||||||||||||||||||||||||
ended | ended | Hancheng Haiyan Coking Co., Ltd | Noncontrolling shareholder of Long Steel Group | 180,401 | 255,800 | 391,065 | 234,479 | ||||||||||||||||||||||||||||
September 30, | September 30, | Xi’an Pinghe Metallurgical Raw Material Co., Ltd | Noncontrolling shareholder of Long Steel Group | 19,943 | 88,094 | 37,890 | - | ||||||||||||||||||||||||||||
2011 | 2010 | Shaanxi Long Steel Group Baoji Steel Rolling Co., Ltd | Subsidiary of Long Steel Group | - | 6,379 | 19,076 | - | ||||||||||||||||||||||||||||
(in thousands) | (in thousands) | Shaanxi Junlong Rolling Co., Ltd | Investee of Long Steel Group | 213 | 7,334 | 19,110 | - | ||||||||||||||||||||||||||||
Shaanxi Huafu New Energy Co., Ltd | Significant influence by the Long Steel Group | 32,824 | 32,693 | 34,810 | - | ||||||||||||||||||||||||||||||
Long Steel Group | Non-controlling shareholder of Longmen Joint Venture | $ | 118,181 | $ | 79,244 | Beijing Daishang Trading Co., Ltd. | Noncontrolling shareholder of Longmen Joint Venture’s subsidiary | 6,933 | 5,400 | - | - | ||||||||||||||||||||||||
Sichuan Yutai Trading Co., Ltd. | Significant influence by Long Steel Group** | 57,350 | - | Shaanxi Coal and Chemical Industry Group Co., Ltd. | Shareholder of Shaanxi Steel | 26,047 | - | - | - | ||||||||||||||||||||||||||
Tianjin Hengying Trading Co., Ltd. | Partially owned by CEO* through indirect shareholding | 26,742 | 14,036 | Tianwu General Steel Material Trading Co., Ltd. | Investee of General Steel (China) | 76,735 | - | - | - | ||||||||||||||||||||||||||
Tianjin Dazhan Industry Co., Ltd. | Partially owned by CEO through indirect shareholding | 24,348 | 13,381 | Shaanxi Shenganda Trading Co., Ltd. | Significant influence by the Long Steel Group | 20,213 | - | - | - | ||||||||||||||||||||||||||
Shaanxi Yuchang Trading Co., Ltd. | Significant influence by Long Steel Group | 45,792 | - | Beijing Daishang Trading Co., Ltd. | Noncontrolling shareholder of Longmen Joint Venture’s subsidiary | - | - | 6,509 | 1,984 | ||||||||||||||||||||||||||
Hancheng Haiyan Coking Co., Ltd. | Non-controlling shareholder of Long Steel Group | 18,231 | 9,765 | Others | Entities either owned or have significant influence by our affiliates or management | 797 | 154 | 1,471 | 1,019 | ||||||||||||||||||||||||||
Junlong Steel Rolling Co., Ltd. | Joint Stock company of Long Steel Group | 16,090 | - | Total | $ | 886,401 | $ | 929,005 | $ | 1,428,553 | $ | 799,723 | |||||||||||||||||||||||
Shaanxi Shenganda Trading Co., Ltd. | Significant influence by Long Steel Group | 12,278 | - | ||||||||||||||||||||||||||||||||
Tianjin General Qiugang Pipe Co., Ltd. | Partially owned by CEO through indirect shareholding | 9,305 | Related party balances | ||||||||||||||||||||||||||||||||
Shaanxi Steel | Majority shareholder of Long Steel Group | 4,826 | 1,035 | ||||||||||||||||||||||||||||||||
Shaanxi Huafu New Energy Co., Ltd. | Significant influence by Long Steel Group | 5 | - | a. | Loans receivable – related parties: | ||||||||||||||||||||||||||||||
Beijing Daishang Trade Co., Ltd. | Non-controlling shareholder of Longmen Joint Venture’s subsidiary | - | 15 | ||||||||||||||||||||||||||||||||
Tianjin Daqiuzhuang Steel Plates Co., Ltd. | Partially owned by CEO through indirect shareholding | 23 | Name of | Relationship | December 31, | December 31, | December 31, | December 31, | |||||||||||||||||||||||||||
Others | Entities either owned or have significant influence by our affiliates or management | 2,576 | 2,075 | related parties | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||||||||||
Total Related Party Sales | $ | 335,724 | $ | 119,574 | (in thousands) | (in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||||||||
Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | $ | - | $ | 63,319 | $ | - | $ | - | ||||||||||||||||||||||||||
Name of related parties | Relationship | Nine months ended | Nine months ended | Teamlink Investment Co., Ltd | Partially owned by CEO through indirect shareholding | 4,540 | 6,000 | - | - | ||||||||||||||||||||||||||
September 30, 2013 | September 30, 2012 | Total | $ | 4,540 | $ | 69,319 | $ | - | $ | - | |||||||||||||||||||||||||
(in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||||
Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | $ | 226,754 | $ | 360,820 | See Note 4 – loans receivable – related parties for loan details. | |||||||||||||||||||||||||||||
Sichuan Yutai Trading Co., Ltd | Significant influence by Long Steel Group | 72 | 147,847 | ||||||||||||||||||||||||||||||||
Shaanxi Yuchang Trading Co., Ltd | Significant influence by Long Steel Group | 21,491 | 41,433 | b. | Accounts receivables – related parties: | ||||||||||||||||||||||||||||||
Shaanxi Haiyan Trade Co.,Ltd | Significant influence by Long Steel Group | 15,681 | 43,015 | ||||||||||||||||||||||||||||||||
Shaanxi Shenganda Trading Co., Ltd | Significant influence by Long Steel Group | 56,545 | 34,132 | Name of | Relationship | December 31, | December 31, | December 31, | December 31, | ||||||||||||||||||||||||||
Shaanxi Steel | Majority shareholder of Long Steel Group | 2,390 | 634 | related parties | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||||||||||
Shaanxi Long Steel Group Baoji Steel Rolling Co., Ltd | Subsidiary of Long Steel Group | 2,122 | 31,485 | (in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||
Shaanxi Junlong Rolling Co., Ltd | Investee of Long Steel Group | 33,075 | 37,965 | Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | $ | 548 | $ | 10,409 | $ | 9,187 | $ | 3,023 | ||||||||||||||||||||||
Shaanxi Coal and Chemical Industry Group Co., Ltd | Shareholder of Shaanxi Steel | 22,577 | - | Shaanxi Long Steel Group Baoji Steel Rolling Co., Ltd | Subsidiary of Long Steel Group | - | 2,017 | 3,141 | - | ||||||||||||||||||||||||||
Others | Entities either owned or have significant influence by our affiliates or management | - | 1,493 | Tianjin Daqiuzhuang Steel Plates | Partially owned by CEO through indirect shareholding | 19 | 18 | 755 | - | ||||||||||||||||||||||||||
Total | $ | 380,707 | $ | 698,824 | Tianjin Hengying Trading Co., Ltd. | Partially owned by CEO through indirect shareholding | - | - | - | 1,054 | |||||||||||||||||||||||||
Shaanxi Steel | Majority shareholder of Long Steel Group | 1,741 | 2,435 | 7,207 | 83 | ||||||||||||||||||||||||||||||
Name of related parties | Relationship | Nine months | Nine months | Others | 634 | 87 | 303 | - | |||||||||||||||||||||||||||
ended September | ended September | Total | $ | 2,942 | $ | 14,966 | $ | 20,593 | $ | 4,160 | |||||||||||||||||||||||||
30, 2011 | 30, 2010 | ||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | c. | Other receivables – related parties: | ||||||||||||||||||||||||||||||||
Long Steel Group | Non-controlling shareholder of Longmen Joint Venture | $ | 297,162 | $ | 262,912 | Other receivables - related parties are those nontrade receivables arising from transactions between the Company and its related parties, such as advances or payments made on behalf of these related parties. | |||||||||||||||||||||||||||||
Sichuan Yutai Trading Co., Ltd. | Significant influence by Long Steel Group | 120,260 | - | ||||||||||||||||||||||||||||||||
Tianjin Hengying Trading Co., Ltd. | Partially owned by CEO* through indirect shareholding | 83,210 | 33,304 | Name of | Relationship | December 31, | December 31, | December 31, | December 31, | ||||||||||||||||||||||||||
Tianjin Dazhan Industry Co., Ltd. | Partially owned by CEO through indirect shareholding | 67,639 | 29,284 | related parties | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||||||||||
Shaanxi Yuchang Trading Co., Ltd. | Significant influence by Long Steel Group | 85,907 | - | (in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||
Hancheng Haiyan Coking Co., Ltd. | Non-controlling shareholder of Long Steel Group | 43,340 | 29,133 | Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | $ | 406 | $ | 301 | $ | 15,244 | $ | 993 | ||||||||||||||||||||||
Junlong Steel Rolling Co., Ltd. | Joint Stock company of Long Steel Group | 36,171 | - | Shaanxi Steel | Majority shareholder of Long Steel Group | 46,439 | 65,981 | 66,869 | - | ||||||||||||||||||||||||||
Shaanxi Shenganda Trading Co., Ltd. | Significant influence by Long Steel Group | 28,428 | - | Maoming Shengze Trading Co., Ltd | Partially owned by CEO through indirect shareholding | - | - | 937 | 8,095 | ||||||||||||||||||||||||||
Tianjin General Qiugang Pipe Co., Ltd. | Partially owned by CEO through indirect shareholding | 19,967 | - | Tianjin Daqiuzhuang Steel Plates Co., Ltd. | Partially owned by CEO through indirect shareholding | - | - | - | 1,078 | ||||||||||||||||||||||||||
Shaanxi Steel | Majority shareholder of Long Steel Group | 5,926 | 1,968 | Shaanxi Huafu New Energy Co., Ltd | Significant influence by Long Steel Group | - | - | 2,441 | - | ||||||||||||||||||||||||||
Shaanxi Huafu New Energy Co., Ltd. | Significant influence by the Company | 470 | - | Teamlink Investment Co., Ltd | Owned by CEO through indirect shareholding | - | - | 2,000 | - | ||||||||||||||||||||||||||
Beijing Daishang Trade Co., Ltd. | Non-controlling shareholder of Longmen Joint Venture’s subsidiary | - | 5,471 | Tianjin General Quigang Pipe Co., Ltd | Partially owned by CEO through indirect shareholding | 1,247 | 1,195 | - | - | ||||||||||||||||||||||||||
Tianjin Daqiuzhuang Steel Plates Co., Ltd. | Partially owned by CEO through indirect shareholding | - | 8,337 | Tianjin Dazhan Industry Co, Ltd | Partially owned by CEO through indirect shareholding | 491 | 476 | - | 455 | ||||||||||||||||||||||||||
Others | Entities either owned or have significant influence by our affiliates or management | 3,361 | 3,066 | Beijing Shenhua Xinyuan Metal Materials Co., Ltd. | Partially owned by CEO through indirect shareholding | 4,901 | - | - | - | ||||||||||||||||||||||||||
Total Related Party Sales | $ | 791,841 | $ | 373,475 | Others | Entities either owned or have significant influence by our affiliates or management | 622 | 429 | 188 | 317 | |||||||||||||||||||||||||
Total | $ | 54,106 | $ | 68,382 | $ | 87,679 | $ | 10,938 | |||||||||||||||||||||||||||
Name of related parties | Relationship | Three months ended | Three months ended | d. | Advances on inventory purchase – related parties: | ||||||||||||||||||||||||||||||
June 30, 2013 | June 30, 2012 | ||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | Name of | Relationship | December 31, | December 31, | December 31, | December 31, | ||||||||||||||||||||||||||||
Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | $ | 82,286 | $ | 140,648 | related parties | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||||||||
Sichuan Yutai Trading Co., Ltd | Significant influence by Long Steel Group | - | 54,110 | (in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||
Shaanxi Yuchang Trading Co., Ltd | Significant influence by Long Steel Group | 5,975 | - | Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | $ | 9,123 | $ | 1,367 | $ | 1,028 | $ | - | ||||||||||||||||||||||
Shaanxi Haiyan Trade Co.,Ltd | Significant influence by Long Steel Group | 5,004 | 16,091 | Shaanxi Shenganda Trading Co., Ltd. | Significant influence by Long Steel Group | 25,607 | - | - | - | ||||||||||||||||||||||||||
Shaanxi Shenganda Trading Co., Ltd | Significant influence by Long Steel Group | 18,393 | 9,566 | Tianjin Dazhan Industry Co., Ltd | Partially owned by CEO through indirect shareholding | 10,343 | - | - | - | ||||||||||||||||||||||||||
Shaanxi Steel | Majority shareholder of Long Steel Group | 448 | 27 | Tianjin Hengying Trading Co., Ltd | Partially owned by CEO through indirect shareholding | 16,158 | - | - | - | ||||||||||||||||||||||||||
Shaanxi Long Steel Group Baoji Steel Rolling Co., Ltd | Subsidiary of Long Steel Group | 114 | 12,756 | Tianjin General Qiugang Pipe Co., Ltd | Partially owned by CEO through indirect shareholding | 555 | 41,316 | 15,678 | 6,187 | ||||||||||||||||||||||||||
Shaanxi Junlong Rolling Co., Ltd | Investee of Long Steel Group | 11,289 | 7,170 | Maoming Shengze Trading Co., Ltd | Partially owned by CEO through indirect shareholding | 21,197 | 3,733 | 3,538 | - | ||||||||||||||||||||||||||
Shaanxi Coal and Chemical Industry Group Co., Ltd | Shareholder of Shaanxi Steel | 12,792 | - | Others | Entities either owned or have significant influence by our affiliates or management | 20 | - | - | - | ||||||||||||||||||||||||||
Others | Entities either owned or have significant influence by our affiliates or management | - | 1,329 | Total | $ | 83,003 | $ | 46,416 | $ | 20,244 | $ | 6,187 | |||||||||||||||||||||||
Total | $ | 136,301 | $ | 241,697 | |||||||||||||||||||||||||||||||
e. | Accounts payable - related parties: | ||||||||||||||||||||||||||||||||||
Three months | Three months | ||||||||||||||||||||||||||||||||||
ended | ended | Name of | Relationship | December 31, | December 31, | December 31, | December 31, | ||||||||||||||||||||||||||||
June 30, 2011 | June 30, 2010 | related parties | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||||||||||||
Name of related parties | Relationship | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||
Hancheng Haiyan Coking Co., Ltd | Noncontrolling shareholder of Longmen Joint Venture | $ | 58,163 | $ | 58,661 | $ | 46,487 | $ | 25,708 | ||||||||||||||||||||||||||
Long Steel Group | Non-controlling shareholder of Longmen Joint Venture | $ | 35,273 | $ | 79,215 | Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | 134,758 | 91,511 | 11,231 | 28,329 | ||||||||||||||||||||||||
Sichuan Yutai Trading Co., Ltd | Significant influence by Long Steel Group** | 62,910 | - | Shaanxi Coal and Chemical Industry Group Co., Ltd. | Shareholder of Shaanxi Steel | 29,990 | 5,652 | - | - | ||||||||||||||||||||||||||
Tianjin Hengying Trading Co., Ltd | Partially owned by CEO*** through indirect shareholding | 30,982 | 9,418 | Tianjin Dazhan Industry Co., Ltd | Partially owned by CEO through indirect shareholding | 958 | 3 | 25,511 | 2,764 | ||||||||||||||||||||||||||
Tianjin Dazhan Industry Co., Ltd | Partially owned by CEO through indirect shareholding | 23,030 | 15,903 | Xi’an Pinghe Metallurgical Raw Material Co., Ltd | Noncontrolling shareholder of Long Steel Group | 8,714 | 5,278 | 12,800 | - | ||||||||||||||||||||||||||
Shaanxi Yuchang Trading Co., Ltd | Significant influence by Long Steel Group | 40,115 | - | Tianjin Hengying Trading Co., Ltd | Partially owned by CEO through indirect shareholding | 1 | 13,919 | 14,856 | 17,264 | ||||||||||||||||||||||||||
Hancheng Haiyan Coking Co., Ltd | Non-controlling shareholder of Long Steel Group | 13,716 | 9,043 | Henan Xinmi Kanghua Fire Refractory Co., Ltd | Noncontrolling shareholder of Longmen Joint Venture’s subsidiary | 716 | 1,146 | 1,185 | 880 | ||||||||||||||||||||||||||
Junlong Steel Rolling Co., Ltd | Joint stock company of Long Steel Group | 20,081 | - | Hancheng Jinma Coking Co., Ltd | Investee of Longmen Joint Venture’s subsidiary (unconsolidated) | - | - | - | 1,579 | ||||||||||||||||||||||||||
Shaanxi Shenganda Trading Co., Ltd | Significant influence by Long Steel Group | 16,150 | - | Beijing Daishang Trading Co., Ltd | Noncontrolling shareholder of Longmen Joint Venture’s subsidiary | 1,004 | 875 | 1,600 | 1,101 | ||||||||||||||||||||||||||
Tianjin General Qiugang Pipe Co., Ltd | Partially owned by CEO through indirect shareholding | 3,512 | - | Maoming Shengze Trading Co., Ltd | Partially owned by CEO through indirect shareholding | - | - | - | 1,954 | ||||||||||||||||||||||||||
Shaanxi Steel | Majority shareholder of Long Steel Group | 579 | 933 | Tianjin General Qiugang Pipe Co., Ltd | Partially owned by CEO through indirect shareholding | - | 52 | 8,034 | - | ||||||||||||||||||||||||||
Beijing Daishang Trade Co., Ltd. | Non-controlling shareholder of Longmen Joint Venture’s subsidiary | - | 3,051 | Tianwu General Steel Material Trading Co., Ltd. | Investee of General Steel (China) | 759 | - | - | - | ||||||||||||||||||||||||||
Tianjin Daqiuzhuang Steel Plates Co., Ltd. | Partially owned by CEO through indirect shareholding | - | 2 | Others | Entities either owned or have significant influence by our affiliates or management | 629 | 335 | 124 | 115 | ||||||||||||||||||||||||||
Others | Entities either owned or have significant influence by our affiliates or management | 784 | 941 | Total | $ | 235,692 | $ | 177,432 | $ | 121,828 | $ | 79,694 | |||||||||||||||||||||||
Total Related Party Sales | $ | 247,132 | $ | 118,506 | |||||||||||||||||||||||||||||||
Name of related parties | Relationship | Six months ended | Six months ended | f. | Short-term loans - related parties: | ||||||||||||||||||||||||||||||
June 30, 2013 | June 30, 2012 | ||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | Name of related | Relationship | December 31, | December 31, | December 31, | December 31, | ||||||||||||||||||||||||||||
Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | $ | 162,961 | $ | 237,189 | parties | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||||||||
Sichuan Yutai Trading Co., Ltd | Significant influence by Long Steel Group | 72 | 130,849 | (in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||
Shaanxi Yuchang Trading Co., Ltd | Significant influence by Long Steel Group | 20,410 | 41,433 | Shaanxi Steel | Majority shareholder of Long Steel Group | $ | 49,110 | $ | 35,839 | $ | - | $ | 14,548 | ||||||||||||||||||||||
Shaanxi Haiyan Trade Co.,Ltd | Significant influence by Long Steel Group | 15,596 | 30,535 | Shaanxi Coal and Chemical Industry Group Co., Ltd | Shareholder of Shaanxi Steel | 28,216 | - | - | - | ||||||||||||||||||||||||||
Shaanxi Shenganda Trading Co., Ltd | Significant influence by Long Steel Group | 36,679 | 26,533 | Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | 33,183 | - | - | - | ||||||||||||||||||||||||||
Shaanxi Steel | Majority shareholder of Long Steel Group | 1,411 | 609 | Tianjin Hengying Trading Co., Ltd | Partially owned by CEO through indirect shareholding | 8,178 | 19,549 | 15,710 | - | ||||||||||||||||||||||||||
Shaanxi Long Steel Group Baoji Steel Rolling Co., Ltd | Subsidiary of Long Steel Group | 2,113 | 20,093 | Tianjin Dazhan Industry Co., Ltd | Partially owned by CEO through indirect shareholding | 6,548 | 21,397 | - | - | ||||||||||||||||||||||||||
Shaanxi Junlong Rolling Co., Ltd | Investee of Long Steel Group | 31,293 | 17,207 | Beijing Shenhua Xinyuan Metal Materials Co., Ltd | Partially owned by CEO through indirect shareholding | - | 1,359 | - | - | ||||||||||||||||||||||||||
Shaanxi Coal and Chemical Industry Group Co., Ltd | Shareholder of Shaanxi Steel | 14,626 | - | Yangpu Capital Automobile | Partially owned by CEO through indirect shareholding | 1,458 | 1,413 | - | - | ||||||||||||||||||||||||||
Others | Entities either owned or have significant influence by our affiliates or management | - | 1,493 | Total | $ | 126,693 | $ | 79,557 | $ | 15,710 | $ | 14,548 | |||||||||||||||||||||||
Total | $ | 285,161 | $ | 505,941 | |||||||||||||||||||||||||||||||
See Note 10 – Debt for the loan details. | |||||||||||||||||||||||||||||||||||
Six months | Six months | ||||||||||||||||||||||||||||||||||
ended | ended | g. | Current maturities of long-term loans – related parties | ||||||||||||||||||||||||||||||||
Name of related parties | Relationship | June 30, 2011 | June 30, 2010 | ||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | Name of | Relationship | December 31, | December 31, | December 31, | December 31, | ||||||||||||||||||||||||||||
Long Steel Group | Non-controlling shareholder of Longmen Joint Venture | $ | 179,446 | $ | 183,668 | related party | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||||||||
Sichuan Yutai Trading Co., Ltd | Significant influence by Long Steel Group | 62,910 | - | (in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||
Tianjin Hengying Trading Co., Ltd | Partially owned by CEO through indirect shareholding | 56,468 | 19,268 | Shaanxi Steel | Majority shareholder of Long Steel Group | $ | 53,013 | $ | 54,885 | $ | - | $ | - | ||||||||||||||||||||||
Tianjin Dazhan Industry Co., Ltd | Partially owned by CEO through indirect shareholding | 43,291 | 15,903 | Total | $ | 53,013 | $ | 54,885 | $ | - | $ | - | |||||||||||||||||||||||
Shaanxi Yuchang Trading Co., Ltd | Significant influence by Long Steel Group | 40,115 | - | ||||||||||||||||||||||||||||||||
Hancheng Haiyan Coking Co., Ltd | Non-controlling shareholder of Long Steel Group | 25,109 | 19,368 | h. | Other payables – related parties: | ||||||||||||||||||||||||||||||
Junlong Steel Rolling Co., Ltd | Joint Stock company of Long Steel Group | 20,081 | - | ||||||||||||||||||||||||||||||||
Shaanxi Shenganda Trading Co., Ltd | Significant influence by Long Steel Group | 16,150 | - | Other payables – related parties are those nontrade payables arising from transactions between the Company and its related parties, such as advances or payments from these related parties on behalf of the Group. | |||||||||||||||||||||||||||||||
Tianjin General Qiugang Pipe Co., Ltd | Partially owned by CEO through indirect shareholding | 10,662 | - | ||||||||||||||||||||||||||||||||
Shaanxi Steel | Majority shareholder of Long Steel Group | 1,100 | 933 | Name of | Relationship | December 31, | December 31, | December 31, | December 31, | ||||||||||||||||||||||||||
Beijing Daishang Trade Co., Ltd. | Non-controlling shareholder of Longmen Joint Venture’s subsidiary | - | 5,456 | related parties | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||||||||||
Tianjin Daqiuzhuang Steel Plates Co., Ltd. | Partially owned by CEO through indirect shareholding | - | 8,314 | (in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||
Others | Entities either owned or have significant influence by our affiliates or management | 785 | 991 | Tianjin Hengying Trading Co, Ltd | Partially owned by CEO through indirect shareholding | $ | 380 | $ | 2,770 | $ | - | $ | 10,168 | ||||||||||||||||||||||
Total Related Party Sales | $ | 456,117 | $ | 253,901 | Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | 43,636 | 60,180 | 20,001 | - | |||||||||||||||||||||||||
Shaanxi Steel | Majority shareholder of Long Steel Group | 44,363 | - | - | - | ||||||||||||||||||||||||||||||
Name of | Three months ended | Three months ended | Three months ended | Wendlar Investment & Management Group Co., Ltd | Common control under CEO | 895 | 836 | 241 | - | ||||||||||||||||||||||||||
related parties | Relationship | March 31, 2013 | March 31, 2012 | March 31, 2011 | Yangpu Capital Automobile | Partially owned by CEO through indirect shareholding | 291 | 141 | 1,398 | 1,350 | |||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | Tianjin Daqiuzhuang Steel Plates Co., Ltd. | Partially owned by CEO through indirect shareholding | - | - | 5,771 | - | |||||||||||||||||||||||||||
Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | $ | 80,675 | $ | 96,541 | $ | 144,173 | Tianjin General Qiugang Pipe Co., Ltd | Partially owned by CEO through indirect shareholding | - | - | - | 4,547 | ||||||||||||||||||||||
Sichuan Yutai Trading Co., Ltd | Significant influence by Long Steel Group | 72 | 76,739 | Tianjin Hengying Trading Co., Ltd | Partially owned by CEO through indirect shareholding | - | - | 1,040 | - | ||||||||||||||||||||||||||
Shaanxi Yuchang Trading Co., Ltd | Significant influence by Long Steel Group | 14,435 | 41,482 | - | Xi’an Pinghe Metallurgical Raw Material Co., Ltd | Noncontrolling shareholder of Long Steel Group | - | 4,761 | - | - | |||||||||||||||||||||||||
Shaanxi Haiyan Trade Co., Ltd | Significant influence by Long Steel Group | 10,592 | 14,444 | - | Wenchun Han | Director of General Steel (China) | - | - | - | 2,124 | |||||||||||||||||||||||||
Shaanxi Shenganda Trading Co., Ltd | Significant influence by Long Steel Group | 18,286 | 16,967 | - | Tianjin Dazhan Industry Co., Ltd | Partially owned by CEO through indirect shareholding | 473 | 3,695 | - | - | |||||||||||||||||||||||||
Shaanxi Steel | Majority shareholder of Long Steel Group | 963 | 582 | 521 | Maoming Shengze Trading Co., Ltd | Partially owned by CEO through indirect shareholding | 1,745 | - | - | - | |||||||||||||||||||||||||
Shaanxi Long Steel Group Baoji Steel Rolling Co., Ltd | Subsidiary of Long Steel Group | 1,999 | 7,337 | - | Victory Energy Resource Co., Ltd | Partially owned by CEO through indirect shareholding | 1,375 | - | - | - | |||||||||||||||||||||||||
Shaanxi Junlong Rolling Co., Ltd | Investee of Long Steel Group | 20,004 | 10,037 | - | Others | Entities either owned or have significant influence by our affiliates or management | 921 | 642 | 422 | 25 | |||||||||||||||||||||||||
Shaanxi Coal and Chemical Industry Group Co., Ltd | Shareholder of Shaanxi Steel | 1,834 | - | - | Total | $ | 94,079 | $ | 73,025 | $ | 28,873 | $ | 18,214 | ||||||||||||||||||||||
Tianjin Hengying Trading CO., Ltd | Common control under CEO | - | - | 25,486 | |||||||||||||||||||||||||||||||
Tianjin Dazhan Industry Co., Ltd | Common control under CEO | - | - | 20,261 | |||||||||||||||||||||||||||||||
Hancheng Haiyan Coking | Investee of Long Steel Group | - | - | 11,393 | i. | Customer deposits – related parties: | |||||||||||||||||||||||||||||
Tianjin General Qiugang Pipe Co., Ltd | Partially owned by CEO through indirect shareholding | - | - | 7,150 | |||||||||||||||||||||||||||||||
Others | Entities either owned or have significant influence by our affiliates or management | - | 115 | 1 | Name of related | Relationship | December 31, | December 31, | December 31, | December 31, | |||||||||||||||||||||||||
Total | $ | 148,860 | $ | 264,244 | $ | 208,985 | parties | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||
e. The following charts summarize purchases from related parties for the three and nine months ended September 30, 2013, 2012, 2011 and 2010, for the three and six months ended June 30, 2013, 2012, 2011 and 2010, and for the three months ended March 31, 2013, 2012 and 2011.. | Hancheng Haiyan Coking Co., Ltd | Noncontrolling shareholder of Long Steel Group | $ | - | $ | - | $ | - | $ | 5,081 | |||||||||||||||||||||||||
Shaanxi Yuchang Trading Co., Ltd | Significant influence by Long Steel Group | 10 | 4,869 | 24,256 | - | ||||||||||||||||||||||||||||||
Name of related parties | Relationship | Three months ended | Three months ended | Sichuan Yutai Trading Co., Ltd | Significant influence by Long Steel Group | - | 2,163 | 5,972 | - | ||||||||||||||||||||||||||
September 30, 2013 | September 30, 2012 | Tianjin Hengying Trading Co, Ltd | Partially owned by CEO through indirect shareholding | - | 90 | 1,506 | - | ||||||||||||||||||||||||||||
(in thousands) | (in thousands) | Tianjin General Qiugang Pipe Co., Ltd | Partially owned by CEO through indirect shareholding | - | - | 9,102 | - | ||||||||||||||||||||||||||||
Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | $ | 101,606 | $ | 123,637 | Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | 15,038 | 8,864 | 4,755 | 48,161 | ||||||||||||||||||||||||
Hancheng Haiyan Coking Co., Ltd | Noncontrolling shareholder of Long Steel Group | 31,331 | 47,487 | Beijing Shenhua Xinyuan Metal Materials Co., Ltd | Partially owned by CEO through indirect shareholding | - | - | 1,345 | 1,299 | ||||||||||||||||||||||||||
Xi’an Pinghe Metallurgical Raw Material Co., Ltd | Noncontrolling shareholder of Long Steel Group | 1,181 | 16,674 | Shaanxi Haiyan Trade Co., Ltd | Significant influence by Long Steel Group | - | - | 6,822 | - | ||||||||||||||||||||||||||
Shaanxi Long Steel Group Baoji Steel Rolling Co., Ltd | Subsidiary of Long Steel Group | - | 1,568 | Shaanxi Junlong Rolling Co., Ltd | Investee of Long Steel Group | 2,748 | 5,615 | 1,540 | - | ||||||||||||||||||||||||||
Shaanxi Junlong Rolling Co., Ltd | Investee of Long Steel Group | 1 | 2,257 | Tianjin Dazhan Industry Co., Ltd | Partially owned by CEO through indirect shareholding | - | - | 11,178 | - | ||||||||||||||||||||||||||
Shaanxi Huafu New Energy Co., Ltd | Significant influence by the Long Steel Group | 10,529 | 10,322 | Shaanxi Shenganda Trading Co., Ltd | Significant influence by Long Steel Group | 275 | 353 | 1,750 | - | ||||||||||||||||||||||||||
Beijing Daishang Trading Co., Ltd. | Noncontrolling shareholder of Longmen Joint Venture’s subsidiary | 1,726 | 1,049 | Tianwu General Steel Material Trading Co., Ltd. | Investee of General Steel (China) | 46,521 | - | - | - | ||||||||||||||||||||||||||
Others | Entities either owned or have significant influence by our affiliates or management | 64 | 91 | Others | Entities either owned or have significant influence by our affiliates or management | 289 | 44 | 51 | 381 | ||||||||||||||||||||||||||
Total | $ | 146,438 | $ | 203,085 | Total | $ | 64,881 | $ | 21,998 | $ | 68,277 | $ | 54,922 | ||||||||||||||||||||||
Name of related parties | Relationship | Three months | Three months | j. | Deposits due to sales representatives – related parties | ||||||||||||||||||||||||||||||
ended September | ended September | ||||||||||||||||||||||||||||||||||
30, 2011 | 302,010 | Name of | Relationship | December 31, | December 31, | December 31, | December 31, | ||||||||||||||||||||||||||||
(in thousands) | (in thousands) | related parties | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||
Long Steel Group | Non-controlling shareholder of Longmen Joint Venture | $ | 418,537 | $ | 96,753 | Hancheng Haiyan Coking Co., Ltd | Noncontrolling shareholder of Long Steel Group | $ | - | $ | 619 | $ | 471 | $ | 455 | ||||||||||||||||||||
Shaanxi Huafu New Energy Co., Ltd. | Significant influence by the Company | 15,123 | - | Shaanxi Junlong Rolling Co., Ltd | Investee of Long Steel Group | - | 619 | 472 | - | ||||||||||||||||||||||||||
Hancheng Jinma Coking Co., Ltd. | Equity investee of Longmen Joint Venture’s subsidiary (unconsolidated) | - | 1,463 | Gansu Yulong Trading Co., Ltd. | Significant influence by Long Steel Group | 1,408 | - | - | - | ||||||||||||||||||||||||||
Hancheng Haiyan Coking Co., Ltd. | Non-controlling shareholder of Long Steel Group | 102,535 | 49,060 | Shaanxi Yuchang Trading Co., Ltd | Significant influence by Long Steel Group | 589 | - | - | - | ||||||||||||||||||||||||||
Xian Pinghe Metallurgical Raw Material Co., Ltd. | Non-controlling shareholder of Long Steel Group | 14,727 | - | Total | $ | 1,997 | $ | 1,238 | $ | 943 | $ | 455 | |||||||||||||||||||||||
Beijing Daishang Trading Co., Ltd. | Non-controlling shareholder of Longmen Joint Venture’s subsidiary | 1,704 | 108 | ||||||||||||||||||||||||||||||||
Others | Entities either owned or have significant influence by our affiliates or management | 193 | 349 | k. | Long-term loans – related party: | ||||||||||||||||||||||||||||||
Total Related Party Purchases | $ | 552,819 | $ | 147,733 | |||||||||||||||||||||||||||||||
Name of | Relationship | December 31, | December 31, | December 31, | December 31, | ||||||||||||||||||||||||||||||
Name of related parties | Relationship | Nine months ended | Nine months ended | related party | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||||||||||
September 30, 2013 | September 30, 2012 | (in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | Shaanxi Steel | Majority shareholder of Long Steel Group | $ | 19,644 | $ | 38,088 | $ | 92,035 | $ | 91,020 | ||||||||||||||||||||||||
Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | $ | 376,104 | $ | 453,947 | Total | $ | 19,644 | $ | 38,088 | $ | 92,035 | $ | 91,020 | |||||||||||||||||||||
Hancheng Haiyan Coking Co., Ltd | Noncontrolling shareholder of Long Steel Group | 148,322 | 195,861 | ||||||||||||||||||||||||||||||||
Xi’an Pinghe Metallurgical Raw Material Co., Ltd | Noncontrolling shareholder of Long Steel Group | 13,678 | 83,251 | The Company also provided guarantee on related parties’ bank loans amounting to $205.8 million, $118.0 million, $56.6 million and $3.0 million as of December 31, 2013, 2012, 2011 and 2010, respectively. | |||||||||||||||||||||||||||||||
Shaanxi Long Steel Group Baoji Steel Rolling Co., Ltd | Subsidiary of Long Steel Group | 53 | 5,332 | ||||||||||||||||||||||||||||||||
Shaanxi Junlong Rolling Co., Ltd | Investee of Long Steel Group | 212 | 4,417 | l. | Long-term other payable – related party: | ||||||||||||||||||||||||||||||
Shaanxi Huafu New Energy Co., Ltd | Significant influence by the Long Steel Group | 28,618 | 24,347 | ||||||||||||||||||||||||||||||||
Beijing Daishang Trading Co., Ltd. | Noncontrolling shareholder of Longmen Joint Venture’s subsidiary | 6,635 | 3,653 | Long-term other payable – related party is a nontrade payable arising from a transaction between the Company and its related party, Shaanxi Steel, in which the Company received an advance from Shaanxi Steel to make payment to a third party for a construction project. | |||||||||||||||||||||||||||||||
Others | Entities either owned or have significant influence by our affiliates or management | 300 | 305 | ||||||||||||||||||||||||||||||||
Total | $ | 573,922 | $ | 771,113 | Name of | Relationship | December 31, | December 31, | December 31, | December 31, | |||||||||||||||||||||||||
related party | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||
Shaanxi Steel | Majority shareholder of Long Steel Group | $ | - | $ | 43,008 | $ | - | $ | - | ||||||||||||||||||||||||||
Name of related parties | Relationship | Nine months | Nine months | Total | $ | - | $ | 43,008 | $ | - | $ | - | |||||||||||||||||||||||
ended September | ended September | ||||||||||||||||||||||||||||||||||
30, 2011 | 30, 2010 | m. | Deferred lease income | ||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||||
December 31, | December 31, | December 31, | December 31, | ||||||||||||||||||||||||||||||||
Long Steel Group | Non-controlling shareholder of Longmen Joint Venture | $ | 838,495 | $ | 350,593 | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||||||||||
Shaanxi Huafu New Energy Co., Ltd. | Significant influence by the Company | 15,123 | - | (in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||
Hancheng Jinma Coking Co., Ltd. | Equity investee of Longmen Joint Venture’s subsidiary (unconsolidated) | 4,717 | 8,441 | Beginning balance | $ | 77,199 | $ | 78,524 | $ | 57,591 | $ | 16,487 | |||||||||||||||||||||||
Hancheng Haiyan Coking Co., Ltd. | Non-controlling shareholder of Long Steel Group | 307,791 | 166,895 | Add: Reimbursement for dismantled assets | - | - | - | 568 | |||||||||||||||||||||||||||
Xian Pinghe Metallurgical Raw Material Co., Ltd. | Non-controlling shareholder of Long Steel Group | 27,641 | - | Add: Reimbursement for loss of efficiency | - | - | - | 20,676 | |||||||||||||||||||||||||||
Beijing Daishang Trading Co., Ltd. | Non-controlling shareholder of Longmen Joint Venture’s subsidiary | 5,068 | 1,119 | Add: Reimbursement for trial production costs | - | - | 14,042 | 13,584 | |||||||||||||||||||||||||||
Others | Entities either owned or have significant influence by our affiliates or management | 825 | 664 | Add: Deferred depreciation cost during free use period | - | - | 6,904 | 6,656 | |||||||||||||||||||||||||||
Total Related Party Purchases | $ | 1,199,660 | $ | 527,712 | Less: Lease income realized | -2,158 | -2,119 | -2,008 | -943 | ||||||||||||||||||||||||||
Exchange rate effect | 2,403 | 794 | 1,995 | 563 | |||||||||||||||||||||||||||||||
Name of related parties | Relationship | Three months | Three months | Ending balance | 77,444 | 77,199 | 78,524 | 57,591 | |||||||||||||||||||||||||||
ended | ended | Current portion | -2,187 | -2,120 | -2,099 | -1,971 | |||||||||||||||||||||||||||||
June 30, 2013 | June 30, 2012 | Noncurrent portion | $ | 75,257 | $ | 75,079 | $ | 76,425 | $ | 55,620 | |||||||||||||||||||||||||
(in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||||
Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | $ | 170,005 | $ | 128,286 | For the year ended December 31, 2013, 2012, 2011 and 2010, the Company realized lease income from Shaanxi Steel, a related party, amounted to $2.2 million, $2.1 million, $2.0 million and $0.9 million, respectively. | |||||||||||||||||||||||||||||
Hancheng Haiyan Coking Co., Ltd | Noncontrolling shareholder of Long Steel Group | 53,193 | 72,390 | ||||||||||||||||||||||||||||||||
Xi’an Pinghe Metallurgical Raw Material Co., Ltd | Noncontrolling shareholder of Long Steel Group | 742 | 15,196 | n. | Equity | ||||||||||||||||||||||||||||||
Shaanxi Long Steel Group Baoji Steel Rolling Co., Ltd | Subsidiary of Long Steel Group | - | 2,220 | ||||||||||||||||||||||||||||||||
Shaanxi Junlong Rolling Co., Ltd | Investee of Long Steel Group | 1 | 26 | On November 19, 2013, the Company sold its 28% equity interest of Tianwu held by Yangpu Shengtong to Tianjin Dazhan Industry Co., Ltd., a related party through indirect common ownership by the CEO, for $13.6 million (RMB 84.3 million) while retaining the 32% interest held by General Steel (China). As a result of this transaction, the Company met the criteria under ASC 810-10-40-4 to deconsolidate Tianwu as of the ownership disposal date and recognize a gain, which amounted to $1.0 million. After the deconsolidation of Tianwu, General Steel (China)’s 32% interest in Tianwu was accounted for as an equity method investment, which amounted to $15.8 million as of December 31, 2013. | |||||||||||||||||||||||||||||||
Shaanxi Huafu New Energy Co., Ltd | Significant influence by the Long Steel Group | 8,560 | 8,744 | ||||||||||||||||||||||||||||||||
Beijing Daishang Trading Co., Ltd. | Noncontrolling shareholder of Longmen Joint Venture’s subsidiary | 1,432 | 2,202 | ||||||||||||||||||||||||||||||||
Others | Entities either owned or have significant influence by our affiliates or management | 166 | 126 | ||||||||||||||||||||||||||||||||
Total | $ | 234,099 | $ | 229,190 | |||||||||||||||||||||||||||||||
Three months | Three months | ||||||||||||||||||||||||||||||||||
ended | ended | ||||||||||||||||||||||||||||||||||
Name of related parties | Relationship | June 30, 2011 | June 30, 2010 | ||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||||
Long Steel Group | Non-controlling shareholder of Longmen Joint Venture | $ | 225,597 | $ | 141,088 | ||||||||||||||||||||||||||||||
Hancheng Jinma Coking Co., Ltd. | Equity investee of Longmen Joint Venture’s subsidiary (unconsolidated) | 28 | 3,551 | ||||||||||||||||||||||||||||||||
Hancheng Haiyan Coking Co., Ltd. | Non-controlling shareholder of Long Steel Group | 105,220 | 65,777 | ||||||||||||||||||||||||||||||||
Xian Pinghe Metallurgical Raw Material Co., Ltd. | Non-controlling shareholder of Long Steel Group | 12,914 | - | ||||||||||||||||||||||||||||||||
Beijing Daishang Trading Co., Ltd. | Non-controlling shareholder of Longmen Joint Venture’s subsidiary | 3,364 | - | ||||||||||||||||||||||||||||||||
Others | Entities either owned or have significant influence by our affiliates or management | 609 | 284 | ||||||||||||||||||||||||||||||||
Total Related Party Purchases | $ | 347,732 | $ | 210,700 | |||||||||||||||||||||||||||||||
Name of related parties | Relationship | Six months ended | Six months ended | ||||||||||||||||||||||||||||||||
June 30, 2013 | June, 2012 | ||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||||
Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | $ | 274,498 | $ | 330,310 | ||||||||||||||||||||||||||||||
Hancheng Haiyan Coking Co., Ltd | Noncontrolling shareholder of Long Steel Group | 116,991 | 148,374 | ||||||||||||||||||||||||||||||||
Xi’an Pinghe Metallurgical Raw Material Co., Ltd | Noncontrolling shareholder of Long Steel Group | 12,497 | 66,577 | ||||||||||||||||||||||||||||||||
Shaanxi Long Steel Group Baoji Steel Rolling Co., Ltd | Subsidiary of Long Steel Group | 53 | 3,764 | ||||||||||||||||||||||||||||||||
Shaanxi Junlong Rolling Co., Ltd | Investee of Long Steel Group | 211 | 2,160 | ||||||||||||||||||||||||||||||||
Shaanxi Huafu New Energy Co., Ltd | Significant influence by the Long Steel Group | 18,089 | 14,025 | ||||||||||||||||||||||||||||||||
Beijing Daishang Trading Co., Ltd. | Noncontrolling shareholder of Longmen Joint Venture’s subsidiary | 4,909 | 2,604 | ||||||||||||||||||||||||||||||||
Others | Entities either owned or have significant influence by our affiliates or management | 236 | 214 | ||||||||||||||||||||||||||||||||
Total | $ | 427,484 | $ | 568,028 | |||||||||||||||||||||||||||||||
Six months | Six months | ||||||||||||||||||||||||||||||||||
ended | ended | ||||||||||||||||||||||||||||||||||
Name of related parties | Relationship | June 30, 2011 | June 30, 2010 | ||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||||
Long Steel Group | Non-controlling shareholder of Longmen Joint Venture | $ | 419,958 | $ | 253,840 | ||||||||||||||||||||||||||||||
Hancheng Jinma Coking Co., Ltd. | Equity investee of Longmen Joint Venture’s subsidiary (unconsolidated) | 4,717 | 6,978 | ||||||||||||||||||||||||||||||||
Hancheng Haiyan Coking Co., Ltd. | Non-controlling shareholder of Long Steel Group | 205,256 | 117,835 | ||||||||||||||||||||||||||||||||
Xian Pinghe Metallurgical Raw Material Co., Ltd. | Non-controlling shareholder of Long Steel Group | 12,914 | - | ||||||||||||||||||||||||||||||||
Beijing Daishang Trading Co., Ltd. | Non-controlling shareholder of Longmen Joint Venture’s subsidiary | 3,364 | 1,011 | ||||||||||||||||||||||||||||||||
Others | Entities either owned or have significant influence by our affiliates or management | 632 | 315 | ||||||||||||||||||||||||||||||||
Total Related Party Purchases | $ | 646,841 | $ | 379,979 | |||||||||||||||||||||||||||||||
Three months ended | Three months ended | Three months ended | |||||||||||||||||||||||||||||||||
Name of related parties | Relationship | March 31, 2013 | March 31, 2012 | March 31, 2011 | |||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||||||||||||||
Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | $ | 104,493 | $ | 202,024 | $ | 194,361 | ||||||||||||||||||||||||||||
Hancheng Haiyan Coking Co., Ltd | Noncontrolling shareholder of Long Steel Group | 63,798 | 75,984 | 100,036 | |||||||||||||||||||||||||||||||
Xi’an Pinghe Metallurgical Raw | Noncontrolling shareholder of Long Steel Group | 11,755 | 51,381 | - | |||||||||||||||||||||||||||||||
Material Co., Ltd | |||||||||||||||||||||||||||||||||||
Shaanxi Long Steel Group Baoji Steel Rolling Co., Ltd | Subsidiary of Long Steel Group | 53 | 1,544 | - | |||||||||||||||||||||||||||||||
Shaanxi Junlong Rolling Co., Ltd | Investee of Long Steel Group | 210 | 2,134 | - | |||||||||||||||||||||||||||||||
Shaanxi Huafu New Energy Co., Ltd | Significant influence by the Long Steel Group | 9,529 | 5,281 | - | |||||||||||||||||||||||||||||||
Beijing Daishang Trading Co., Ltd. | Noncontrolling shareholder of Longmen Joint Venture’s subsidiary | 3,477 | 402 | - | |||||||||||||||||||||||||||||||
Hancheng Jinma Coking Co., Ltd | Investee of Longmen Joint Venture’s subsidiary(unconsolidated) | - | - | 4,689 | |||||||||||||||||||||||||||||||
Others | Entities either owned or have significant influence by our affiliates or management | 70 | 88 | 23 | |||||||||||||||||||||||||||||||
Total | $ | 193,385 | $ | 338,838 | $ | 299,109 | |||||||||||||||||||||||||||||
Related party balances | |||||||||||||||||||||||||||||||||||
a. | Loans receivable – related parties: | ||||||||||||||||||||||||||||||||||
Name of | Relationship | September 30, | June 30, | March 31, | December 31, | ||||||||||||||||||||||||||||||
related parties | 3013 | 2013 | 2013 | 2012 | |||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||
Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | $ | - | $ | - | $ | - | $ | 63,319 | ||||||||||||||||||||||||||
Teamlink Investment Co., Ltd | Partially owned by CEO** through indirect shareholding | 4,540 | 6,000 | 6,000 | 6,000 | ||||||||||||||||||||||||||||||
Total | $ | 4,540 | $ | 6,000 | $ | 6,000 | $ | 69,319 | |||||||||||||||||||||||||||
**The CEO is referred to herein as the chief executive officer of General Steel Holdings, Inc. | |||||||||||||||||||||||||||||||||||
Name of | Relationship | September 30, | June 30, | March 31, | December 31, | ||||||||||||||||||||||||||||||
related parties | 2012 | 2012 | 2012 | 2011 | |||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||
Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | $ | 63,159 | $ | 63,239 | $ | 63,199 | $ | - | ||||||||||||||||||||||||||
Teamlink Investment Co., Ltd | Partially owned by CEO through indirect shareholding | 4,000 | 4,000 | - | - | ||||||||||||||||||||||||||||||
Total | $ | 67,159 | $ | 67,239 | $ | 63,199 | $ | - | |||||||||||||||||||||||||||
See Note 4 – loans receivable – related parties for loan details. | |||||||||||||||||||||||||||||||||||
b. | Accounts receivables – related parties: | ||||||||||||||||||||||||||||||||||
Name of | Relationship | September 30, | June 30, | March 31, | December 31, | ||||||||||||||||||||||||||||||
related parties | 3013 | 2013 | 2013 | 2012 | |||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||
Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | $ | 1,834 | $ | 1,319 | $ | 3,441 | $ | 10,409 | ||||||||||||||||||||||||||
Shaanxi Long Steel Group Baoji Steel Rolling Co., Ltd | Subsidiary of Long Steel Group | - | 3,183 | 3,019 | 2,017 | ||||||||||||||||||||||||||||||
Tianjin Daqiuzhuang Steel Plates | Partially owned by CEO through indirect shareholding | 19 | 19 | 18 | 18 | ||||||||||||||||||||||||||||||
Shaanxi Steel | Majority shareholder of Long Steel Group | 1,227 | 1,521 | 1,102 | 2,435 | ||||||||||||||||||||||||||||||
Others | 172 | 170 | 651 | 87 | |||||||||||||||||||||||||||||||
Total | $ | 3,252 | $ | 6,212 | $ | 8,231 | $ | 14,966 | |||||||||||||||||||||||||||
Name of related | Relationship | September 30, | 30-Jun-12 | March 31, | December 31, | ||||||||||||||||||||||||||||||
parties | 2012 | 2012 | 2011 | ||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||
Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | $ | 12,306 | $ | 56,445 | $ | 35,650 | $ | 9,187 | ||||||||||||||||||||||||||
Shaanxi Long Steel Group Baoji Steel Rolling Co., Ltd | Subsidiary of Long Steel Group | 3,178 | 3,725 | 4,749 | 3,141 | ||||||||||||||||||||||||||||||
Tianjin Daqiuzhuang Steel Plates | Partially owned by CEO through indirect shareholding | 761 | 762 | 762 | 755 | ||||||||||||||||||||||||||||||
Tianjin Hengying Trading Co., Ltd. | Partially owned by CEO through indirect shareholding | 4,071 | - | - | - | ||||||||||||||||||||||||||||||
Hancheng Haiyan Coking Co., Ltd. | Non-controlling shareholder of Longmen Joint Venture | - | - | - | - | ||||||||||||||||||||||||||||||
Gansu Yulong Trading Co., Ltd. | Significant influence by Long Steel Group | - | 17,438 | 2,525 | - | ||||||||||||||||||||||||||||||
Shaanxi Steel | Majority shareholder of Long Steel Group | 7,106 | 8,697 | 9,064 | 7,207 | ||||||||||||||||||||||||||||||
Others | 924 | 306 | 306 | 303 | |||||||||||||||||||||||||||||||
Total | $ | 28,346 | $ | 87,373 | $ | 53,056 | $ | 20,593 | |||||||||||||||||||||||||||
Name of related parties | Relationship | September 30, | 30-Jun-11 | December 31, | |||||||||||||||||||||||||||||||
2011 | 2010 | ||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||||||||||||||
Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | $ | 7,618 | $ | 36,003 | $ | 3,023 | ||||||||||||||||||||||||||||
Shaanxi Long Steel Group Baoji Steel Rolling Co., Ltd | Subsidiary of Long Steel Group | - | 2,543 | - | |||||||||||||||||||||||||||||||
Tianjin Daqiuzhuang Steel Plates | Partially owned by CEO through indirect shareholding | 752 | 1081 | - | |||||||||||||||||||||||||||||||
Tianjin Hengying Trading Co., Ltd. | Partially owned by CEO through indirect shareholding | - | - | 1,054 | |||||||||||||||||||||||||||||||
Hancheng Haiyan Coking Co., Ltd. | 318 | - | - | ||||||||||||||||||||||||||||||||
Tianjin Hancheng Haiyan Coking Co., Ltd. | Partially owned by CEO through indirect shareholding | - | 2,111 | - | |||||||||||||||||||||||||||||||
Shaanxi Steel | Majority shareholder of Long Steel Group | 1,860 | 1,654 | 83 | |||||||||||||||||||||||||||||||
Others | 46 | 108 | |||||||||||||||||||||||||||||||||
Total | $ | 10,594 | $ | 43,500 | $ | 4,160 | |||||||||||||||||||||||||||||
c. | Other receivables – related parties: | ||||||||||||||||||||||||||||||||||
Other receivables - related parties are those nontrade receivables arising from transactions between the Company and its related parties, such as advances or payments made on behalf of these related parties. | |||||||||||||||||||||||||||||||||||
Name of | Relationship | September 30, | June 30, | March 31, | December 31, | ||||||||||||||||||||||||||||||
related parties | 3013 | 2013 | 2013 | 2012 | |||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||
Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | $ | 561 | $ | 3114 | $ | 17438 | $ | 301 | ||||||||||||||||||||||||||
Shaanxi Steel | Majority shareholder of Long Steel Group | 44,811 | 54,082 | 69,455 | 65,981 | ||||||||||||||||||||||||||||||
Tianjin General Quigang Pipe Co., Ltd | Partially owned by CEO through indirect shareholding | 1,228 | 1,220 | 1,202 | 1,195 | ||||||||||||||||||||||||||||||
Tianjin Dazhan Industry Co, Ltd | Partially owned by CEO through indirect shareholding | 489 | 486 | 479 | 476 | ||||||||||||||||||||||||||||||
Maoming Shengze Trading Co., Ltd | Partially owned by CEO through indirect shareholding | 3,834 | 3,811 | - | - | ||||||||||||||||||||||||||||||
Others | Entities either owned or have significant influence by our affiliates or management | 578 | 510 | 441 | 429 | ||||||||||||||||||||||||||||||
Total | $ | 51,501 | $ | 63,223 | $ | 89,015 | $ | 68,382 | |||||||||||||||||||||||||||
Name of related | Relationship | September 30, | 30-Jun-12 | March 31, | December 31, | ||||||||||||||||||||||||||||||
parties | 2012 | 2012 | 2011 | ||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||
Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | $ | 3,734 | $ | 1,847 | $ | - | $ | 15,244 | ||||||||||||||||||||||||||
Shaanxi Steel | Majority shareholder of Long Steel Group | 60,674 | 51,347 | 64,855 | 66,869 | ||||||||||||||||||||||||||||||
Maoming Shengze Trading Co., Ltd | Partially owned by CEO through indirect shareholding | - | 325 | 747 | 937 | ||||||||||||||||||||||||||||||
Tianjin Daqiuzhuang Steel Plates Co., Ltd. | Partially owned by CEO through indirect shareholding | - | - | 55 | - | ||||||||||||||||||||||||||||||
Tianjin General Qiugang Pipe Co., Ltd. | Partially owned by CEO through indirect shareholding | - | 4 | 9,508 | - | ||||||||||||||||||||||||||||||
Shaanxi Huafu New Energy Co., Ltd | Significant influence by Long Steel Group | - | - | - | 2,441 | ||||||||||||||||||||||||||||||
Tianjin Dazhan Industry Co, Ltd | Partially owned by CEO through indirect shareholding | 475 | 476 | 475 | |||||||||||||||||||||||||||||||
Teamlink Investment Co., Ltd | Owned by CEO through indirect shareholding | - | - | - | 2,000 | ||||||||||||||||||||||||||||||
Others | Entities either owned or have significant influence by our affiliates or management | 367 | 401 | 412 | 188 | ||||||||||||||||||||||||||||||
Total | $ | 65,250 | $ | 54,400 | $ | 76,052 | $ | 87,679 | |||||||||||||||||||||||||||
Name of | Relationship | September 30, | 30-Jun-11 | December 31, | |||||||||||||||||||||||||||||||
related parties | 2011 | 2010 | |||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||||||||||||||
Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | $ | 14,436 | $ | 14,834 | $ | 993 | ||||||||||||||||||||||||||||
Shaanxi Steel | Majority shareholder of Long Steel Group | 69,209 | 69,028 | - | |||||||||||||||||||||||||||||||
Maoming Shengze Trading Co., Ltd | Partially owned by CEO through indirectshareholding | - | 4,355 | 8,095 | |||||||||||||||||||||||||||||||
Tianjin Daqiuzhuang Steel Plates Co., Ltd. | Partially owned by CEO through indirectshareholding | 54 | 58 | 1,078 | |||||||||||||||||||||||||||||||
Shaanxi Huafu New Energy Co., Ltd | Significant influence by Long Steel Group | 3,506 | 2,404 | - | |||||||||||||||||||||||||||||||
Tianjin Dazhan Industry Co, Ltd | Partially owned by CEO through indirect shareholding | - | 464 | 455 | |||||||||||||||||||||||||||||||
Others | Entities either owned or have significant influence by our affiliates or management | 543 | 585 | 317 | |||||||||||||||||||||||||||||||
Total | $ | 87,748 | $ | 91,728 | $ | 10,938 | |||||||||||||||||||||||||||||
d. | Advances on inventory purchase – related parties: | ||||||||||||||||||||||||||||||||||
Name of | Relationship | September 30, | June 30, | March 31, | December 31, | ||||||||||||||||||||||||||||||
related parties | 3013 | 2013 | 2013 | 2012 | |||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||
Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | $ | 1,377 | $ | 1,393 | $ | 1,373 | $ | 1,367 | ||||||||||||||||||||||||||
Tianjin Dazhan Industry Co., Ltd | Partially owned by CEO through indirect shareholding | 6,254 | - | - | - | ||||||||||||||||||||||||||||||
Tianjin Hengying Trading Co., Ltd | Partially owned by CEO through indirect shareholding | 12,805 | - | - | |||||||||||||||||||||||||||||||
Tianjin General Qiugang Pipe Co., Ltd | Partially owned by CEO through indirect shareholding | 9,210 | 34 | 34 | 41,316 | ||||||||||||||||||||||||||||||
Maoming Shengze Trading Co., Ltd | Partially owned by CEO through indirect shareholding | - | - | 3,754 | 3,733 | ||||||||||||||||||||||||||||||
Others | Entities either owned or have significant influence by our affiliates or management | 21 | 964 | 98 | - | ||||||||||||||||||||||||||||||
Total | $ | 29,667 | $ | 2,391 | $ | 5,259 | $ | 46,416 | |||||||||||||||||||||||||||
Name of | Relationship | September 30, | 30-Jun-12 | March 31, | December 31, | ||||||||||||||||||||||||||||||
related parties | 2012 | 2012 | 2011 | ||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||
Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | $ | 13,757 | $ | 2 | $ | - | $ | 1,028 | ||||||||||||||||||||||||||
Shaanxi Steel | Majority shareholder of Long Steel Group | 5,672 | - | - | - | ||||||||||||||||||||||||||||||
Tianjin Hengying Trading Co., Ltd | Partially owned by CEO through indirect shareholding | 9,471 | - | - | - | ||||||||||||||||||||||||||||||
Tianjin General Qiugang Pipe Co., Ltd | Partially owned by CEO through indirect shareholding | 46,236 | 49,043 | 73,123 | 15,678 | ||||||||||||||||||||||||||||||
Maoming Shengze Trading Co., Ltd | Partially owned by CEO through indirect shareholding | 3724 | 3728 | 3,726 | 3538 | ||||||||||||||||||||||||||||||
Total | $ | 78,860 | $ | 52,773 | $ | 76,849 | $ | 20,244 | |||||||||||||||||||||||||||
Name of related | Relationship | 30-Sep-11 | 30-Jun-11 | 31-Dec-10 | |||||||||||||||||||||||||||||||
parties | |||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||||||||||||||
Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | $ | 40,116 | $ | - | $ | - | ||||||||||||||||||||||||||||
Tianjin General Qiugang Pipe Co., Ltd | Partially owned by CEO through indirect shareholding | 36,377 | 11,335 | 6,187 | |||||||||||||||||||||||||||||||
Maoming Shengze Trading Co., Ltd | Partially owned by CEO through indirect shareholding | 3,055 | 1,643 | ||||||||||||||||||||||||||||||||
Others | Entities either owned or have significant influence by our affiliates or management | 345 | 165 | - | |||||||||||||||||||||||||||||||
Total | $ | 79,893 | $ | 13,143 | $ | 6,187 | |||||||||||||||||||||||||||||
e. | Accounts payable - related parties: | ||||||||||||||||||||||||||||||||||
Name of | Relationship | September 30, | June 30, | March 31, | December 31, | ||||||||||||||||||||||||||||||
related parties | 3013 | 2013 | 2013 | 2012 | |||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||
Hancheng Haiyan Coking Co., Ltd | Noncontrolling shareholder of Longmen Joint Venture | $ | 60,463 | $ | 56,187 | $ | 66,042 | $ | 58,661 | ||||||||||||||||||||||||||
Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | 100,579 | 108,045 | 77,254 | 91,511 | ||||||||||||||||||||||||||||||
Shaanxi Coal and Chemical Industry Group Co., Ltd. | Shareholder of Shaanxi Steel | - | - | - | 5,652 | ||||||||||||||||||||||||||||||
Tianjin Dazhan Industry Co., Ltd | Partially owned by CEO through indirect shareholding | 954 | 63 | 3 | 3 | ||||||||||||||||||||||||||||||
Xi’an Pinghe Metallurgical Raw Material Co., Ltd | Noncontrolling shareholder of Long Steel Group | 7,838 | 5,684 | 7,223 | 5,278 | ||||||||||||||||||||||||||||||
Tianjin Hengying Trading Co., Ltd | Partially owned by CEO through indirect shareholding | 1 | 1 | 1 | 13,919 | ||||||||||||||||||||||||||||||
Henan Xinmi Kanghua Fire Refractory Co., Ltd | Noncontrolling shareholder of Longmen Joint Venture’s subsidiary | 722 | 692 | 1,011 | 1,146 | ||||||||||||||||||||||||||||||
Beijing Daishang Trading Co., Ltd | Noncontrolling shareholder of Longmen Joint Venture’s subsidiary | 1,149 | 1,080 | 2,548 | 875 | ||||||||||||||||||||||||||||||
Tianjin General Qiugang Pipe Co., Ltd | Partially owned by CEO through indirect shareholding | - | - | - | 52 | ||||||||||||||||||||||||||||||
Others | Entities either owned or have significant influence by our affiliates or management | 553 | 554 | 410 | 335 | ||||||||||||||||||||||||||||||
Total | $ | 172,259 | $ | 172,306 | $ | 154,492 | $ | 177,432 | |||||||||||||||||||||||||||
Name of related | Relationship | September 30, | June 30, | March 31, | December 31, | ||||||||||||||||||||||||||||||
parties | 2012 | 2012 | 2012 | 2011 | |||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||
Hancheng Haiyan Coking Co., Ltd | Noncontrolling shareholder of Longmen Joint Venture | $ | 45,057 | $ | 44,328 | $ | 37,984 | $ | 46,487 | ||||||||||||||||||||||||||
Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | 42,247 | 43,414 | 56,582 | 11,231 | ||||||||||||||||||||||||||||||
Tianjin Dazhan Industry Co., Ltd | Partially owned by CEO through indirect shareholding | 3 | 3 | 3 | 25,511 | ||||||||||||||||||||||||||||||
Xi’an Pinghe Metallurgical Raw Material Co., Ltd | Noncontrolling shareholder of Long Steel Group | 4,846 | 17,615 | 48,920 | 12,800 | ||||||||||||||||||||||||||||||
Tianjin Hengying Trading Co., Ltd | Partially owned by CEO through indirect shareholding | 23,844 | 8,974 | 40,115 | 14,856 | ||||||||||||||||||||||||||||||
Henan Xinmi Kanghua Fire Refractory Co., Ltd | Noncontrolling shareholder of Longmen Joint Venture’s subsidiary | 905 | 1,010 | 1,008 | 1,185 | ||||||||||||||||||||||||||||||
Beijing Daishang Trading Co., Ltd | Noncontrolling shareholder of Longmen Joint Venture’s subsidiary | 584 | 1,021 | 93 | 1,600 | ||||||||||||||||||||||||||||||
Tianjin General Qiugang Pipe Co., Ltd | Partially owned by CEO through indirect shareholding | 52 | 52 | 5,233 | 8,034 | ||||||||||||||||||||||||||||||
Others | Entities either owned or have significant influence by our affiliates or management | 124 | 266 | 125 | 124 | ||||||||||||||||||||||||||||||
Total | $ | 117,662 | $ | 116,683 | $ | 190,063 | $ | 121,828 | |||||||||||||||||||||||||||
Name of related | Relationship | September 30, | June 30, 2011 | December 31, | |||||||||||||||||||||||||||||||
parties | 2011 | 2010 | |||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||||||||||||||
Hancheng Haiyan Coking Co., Ltd | Noncontrolling shareholder of Longmen Joint Venture | $ | 30,141 | $ | 39,744 | $ | 25,708 | ||||||||||||||||||||||||||||
Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | 23,108 | 42,893 | 28,329 | |||||||||||||||||||||||||||||||
Shaanxi Huafu New Energy Co., Ltd | Significant influence by Long Steel Group | 4,182 | - | - | |||||||||||||||||||||||||||||||
Tianjin Dazhan Industry Co., Ltd | Partially owned by CEO through indirect shareholding | 32,034 | 23,990 | 2,764 | |||||||||||||||||||||||||||||||
Xi’an Pinghe Metallurgical Raw Material Co., Ltd | Noncontrolling shareholder of Long Steel Group | 3,912 | 15,557 | - | |||||||||||||||||||||||||||||||
Tianjin Hengying Trading Co., Ltd | Partially owned by CEO through indirect shareholding | 19,049 | 845 | 17,264 | |||||||||||||||||||||||||||||||
Henan Xinmi Kanghua Fire Refractory Co., Ltd | Noncontrolling shareholder of Longmen Joint Venture’s subsidiary | 417 | 1,031 | 880 | |||||||||||||||||||||||||||||||
Hancheng Jinma Coking Co., Ltd | Investee of Longmen Joint Venture’s subsidiary(unconsolidated) | - | 1,678 | 1,579 | |||||||||||||||||||||||||||||||
Beijing Daishang Trading Co., Ltd | Noncontrolling shareholder of Longmen Joint Venture’s subsidiary | 1,200 | 1,803 | 1,101 | |||||||||||||||||||||||||||||||
Maoming Shengze Trading Co., Ltd | Partially owned by CEO through indirect shareholding | - | - | 1,954 | |||||||||||||||||||||||||||||||
Others | Entities either owned or have significant influence by our affiliates or management | 266 | 257 | 115 | |||||||||||||||||||||||||||||||
Total | $ | 114,309 | $ | 127,798 | $ | 79,694 | |||||||||||||||||||||||||||||
f. | Short-term loans - related parties: | ||||||||||||||||||||||||||||||||||
Name of related | Relationship | September 30, | June 30, | March 31, | December 31, | ||||||||||||||||||||||||||||||
parties | 3013 | 2013 | 2013 | 2012 | |||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||
Shaanxi Steel | Majority shareholder of Long Steel Group | $ | - | $ | - | $ | 24,829 | $ | 35,839 | ||||||||||||||||||||||||||
Shaanxi Coal and Chemical Industry Group Co., Ltd | Shareholder of Shaanxi Steel | 33,580 | 42,836 | 56,977 | - | ||||||||||||||||||||||||||||||
Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | 1,547 | 1,538 | 15,960 | - | ||||||||||||||||||||||||||||||
Tianjin Hengying Trading Co., Ltd | Partially owned by CEO through indirect shareholding | 10,916 | 10,849 | 3,837 | 19,549 | ||||||||||||||||||||||||||||||
Tianjin Dazhan Industry Co., Ltd | Partially owned by CEO through indirect shareholding | - | 23,923 | - | 21,397 | ||||||||||||||||||||||||||||||
Beijing Shenhua Xinyuan Metal Materials Co., Ltd | Partially owned by CEO through indirect shareholding | 1,395 | 1,387 | 1,366 | 1,359 | ||||||||||||||||||||||||||||||
Yangpu Capital Automobile | Partially owned by CEO through indirect shareholding | 1,451 | 1,442 | 1,421 | 1,413 | ||||||||||||||||||||||||||||||
Total | $ | 48,889 | $ | 81,975 | $ | 104,390 | $ | 79,557 | |||||||||||||||||||||||||||
Name of related | Relationship | September 30, | June 30, | March 31, | December 31, | ||||||||||||||||||||||||||||||
parties | 2012 | 2012 | 2012 | 2011 | |||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||
Shaanxi Steel | Majority shareholder of Long Steel Group | $ | 45,505 | $ | 15,892 | $ | 15,842 | $ | - | ||||||||||||||||||||||||||
Tianjin Hengying Trading Co., Ltd | Partially owned by CEO through indirect shareholding | 24,828 | 11,880 | 39,710 | 15,710 | ||||||||||||||||||||||||||||||
Tianjin Dazhan Industry Co., Ltd | Partially owned by CEO through indirect shareholding | 8,972 | 50,984 | 24,674 | - | ||||||||||||||||||||||||||||||
Beijing Shenhua Xinyuan Metal Materials Co., Ltd | Partially owned by CEO through indirect shareholding | 1,355 | 1,357 | 1,356 | - | ||||||||||||||||||||||||||||||
Yangpu Capital Automobile | Partially owned by CEO through indirect shareholding | 1,409 | 1,411 | 1,410 | - | ||||||||||||||||||||||||||||||
Total | $ | 82,069 | $ | 81,524 | $ | 82,992 | $ | 15,710 | |||||||||||||||||||||||||||
Name of related | Relationship | September 30, | June 30, | December 31, | |||||||||||||||||||||||||||||||
parties | 2011 | 2011 | 2010 | ||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||||||||||||||
Shaanxi Steel | Majority shareholder of Long Steel Group | $ | - | $ | - | $ | 14,548 | ||||||||||||||||||||||||||||
Tianjin Hengying Trading Co., Ltd | Partially owned by CEO through indirect shareholding | 15,650 | 15,470 | ||||||||||||||||||||||||||||||||
Shaanxi Hong Guang Steel Logistic Co., Ltd | Subsidiary of Long Steel Group | - | 167 | - | |||||||||||||||||||||||||||||||
Total | $ | 15,650 | $ | 15,637 | $ | 14,548 | |||||||||||||||||||||||||||||
See Note 10 – Debt for the loan details. | |||||||||||||||||||||||||||||||||||
g. | Current maturities of long-term loans – related parties | ||||||||||||||||||||||||||||||||||
Name of | Relationship | September 30, | June 30, | March 31, | December 31, | ||||||||||||||||||||||||||||||
related party | 3013 | 2013 | 2013 | 2012 | |||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||
Shaanxi Steel | Majority shareholder of Long Steel Group | $ | 47,896 | $ | 48,014 | $ | 59,984 | $ | 54,885 | ||||||||||||||||||||||||||
Total | $ | 47,896 | $ | 48,014 | $ | 59,984 | $ | 54,885 | |||||||||||||||||||||||||||
Name of related | Relationship | September | June 30, | March 31, | December 31, | ||||||||||||||||||||||||||||||
party | 30, 2012 | 2012 | 2012 | 2011 | |||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||
Shaanxi Steel | Majority shareholder of Long Steel Group | $ | 49,997 | $ | - | $ | - | $ | - | ||||||||||||||||||||||||||
Total | $ | 49,997 | $ | - | $ | - | $ | - | |||||||||||||||||||||||||||
h. | Other payables – related parties: | ||||||||||||||||||||||||||||||||||
Other payables – related parties are those nontrade payables arising from transactions between the Company and its related parties, such as advances or payments from these related parties on behalf of the Group. | |||||||||||||||||||||||||||||||||||
Name of | Relationship | September 30, | June 30, 2013 | March 31, | December 31, | ||||||||||||||||||||||||||||||
related parties | 3013 | 2013 | 2012 | ||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||
Tianjin Hengying Trading Co, Ltd | Partially owned by CEO through indirect shareholding | $ | 876 | $ | 871 | $ | 858 | $ | 2,770 | ||||||||||||||||||||||||||
Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | 51,919 | 46,401 | 61,899 | 60,180 | ||||||||||||||||||||||||||||||
Shaanxi Steel | Majority shareholder of Long Steel Group | 44,173 | 43,902 | - | |||||||||||||||||||||||||||||||
Wendlar Investment & Management Group Co., Ltd | Common control under CEO | 911 | 887 | 848 | 836 | ||||||||||||||||||||||||||||||
Yangpu Capital Automobile | Partially owned by CEO through indirect shareholding | 254 | 216 | 178 | 141 | ||||||||||||||||||||||||||||||
Xi’an Pinghe Metallurgical Raw Material Co., Ltd | Noncontrolling shareholder of Long Steel Group | - | - | 4,788 | 4,761 | ||||||||||||||||||||||||||||||
Tianjin Dazhan Industry Co., Ltd | Partially owned by CEO through indirect shareholding | 4,020 | 5,609 | 4,554 | 3,695 | ||||||||||||||||||||||||||||||
Maoming Shengze Trading Co., Ltd | Partially owned by CEO through indirect shareholding | 1,566 | 1,014 | 1,021 | - | ||||||||||||||||||||||||||||||
Victory Energy Resource Co., Ltd | Partially owned by CEO through indirect shareholding | 1,375 | 835 | 7,335 | - | ||||||||||||||||||||||||||||||
Others | Entities either owned or have significant influence by our affiliates or management | 1,059 | 1,532 | 751 | 642 | ||||||||||||||||||||||||||||||
Total | $ | 106,153 | $ | 101,267 | $ | 82,232 | $ | 73,025 | |||||||||||||||||||||||||||
Name of related parties | Relationship | September 30, | June 30, | March 31, | December 31, | ||||||||||||||||||||||||||||||
2012 | 2012 | 2012 | 2011 | ||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||
Tianjin Hengying Trading Co, Ltd | Partially owned by CEO through indirect shareholding | $ | 2,176 | $ | 1,813 | $ | 939 | $ | 1,040 | ||||||||||||||||||||||||||
Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | 71,392 | 86,998 | 85,052 | 20,001 | ||||||||||||||||||||||||||||||
Shaanxi Steel | Majority shareholder of Long Steel Group | 13,445 | - | - | - | ||||||||||||||||||||||||||||||
Wendlar Investment & Management Group Co., Ltd | Common control under CEO | 361 | 343 | 263 | 241 | ||||||||||||||||||||||||||||||
Yangpu Capital Automobile | Partially owned by CEO through indirect shareholding | 106 | 71 | - | 1,398 | ||||||||||||||||||||||||||||||
Tianjin Daqiuzhuang Steel Plates Co., Ltd. | Partially owned by CEO through indirect shareholding | - | 744 | - | 5,771 | ||||||||||||||||||||||||||||||
Sichuan Yutai Trading Co., Ltd | Significant influence by Long Steel Group | 20,565 | 33,106 | - | - | ||||||||||||||||||||||||||||||
Tianjin Dazhan Industry Co., Ltd | Partially owned by CEO through indirect shareholding | 3,198 | 2,481 | - | - | ||||||||||||||||||||||||||||||
Victory Energy Resource Co., Ltd | Partially owned by CEO through indirect shareholding | 7,240 | 7,320 | 7,320 | - | ||||||||||||||||||||||||||||||
Others | Entities either owned or have significant influence by our affiliates or management | 102 | 72 | 1,458 | 422 | ||||||||||||||||||||||||||||||
Total | $ | 118,585 | $ | 132,948 | $ | 95,032 | $ | 28,873 | |||||||||||||||||||||||||||
Name of related parties | Relationship | September 30, | June 30, 2011 | December 31, 2010 | |||||||||||||||||||||||||||||||
2011 | |||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||||||||||||||
Tianjin Hengying Trading Co, Ltd | Partially owned by CEO through indirect shareholding | $ | 7,360 | $ | 7,275 | $ | 10,168 | ||||||||||||||||||||||||||||
Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | 5,299 | 2,041 | - | |||||||||||||||||||||||||||||||
Long Steel Comprehensive Service Co.,Ltd. | Owned by Long Steel Group | 397 | 7,327 | - | |||||||||||||||||||||||||||||||
Yangpu Capital Automobile | Partially owned by CEO through indirect shareholding | 1,393 | 1,377 | 1,350 | |||||||||||||||||||||||||||||||
Tianjin General Qiugang Pipe Co., Ltd | Partially owned by CEO through indirect shareholding | - | - | 4,547 | |||||||||||||||||||||||||||||||
Wenchun Han | Director of General Steel (China) | - | - | 2,124 | |||||||||||||||||||||||||||||||
Others | Entities either owned or have significant influence by our affiliates or management | 456 | 196 | 25 | |||||||||||||||||||||||||||||||
Total | $ | 14,905 | $ | 18,216 | $ | 18,214 | |||||||||||||||||||||||||||||
i. | Customer deposits – related parties: | ||||||||||||||||||||||||||||||||||
Name of related | Relationship | September 30, | June 30, | March 31, | December 31, | ||||||||||||||||||||||||||||||
parties | 3013 | 2013 | 2013 | 2012 | |||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||
Shaanxi Yuchang Trading Co., Ltd | Significant influence by Long Steel Group | $ | 10 | $ | 1,181 | $ | 1,401 | $ | 4,869 | ||||||||||||||||||||||||||
Sichuan Yutai Trading Co., Ltd | Significant influence by Long Steel Group | - | - | 1,708 | 2,163 | ||||||||||||||||||||||||||||||
Tianjin Hengying Trading Co, Ltd | Partially owned by CEO through indirect shareholding | - | - | - | 90 | ||||||||||||||||||||||||||||||
Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | 13,600 | 5,380 | 4,406 | 8,864 | ||||||||||||||||||||||||||||||
Shaanxi Junlong Rolling Co., Ltd | Investee of Long Steel Group | 679 | 672 | 4,611 | 5,615 | ||||||||||||||||||||||||||||||
Shaanxi Shenganda Trading Co., Ltd | Significant influence by Long Steel Group | - | - | - | 353 | ||||||||||||||||||||||||||||||
Others | Entities either owned or have significant influence by our affiliates or management | 223 | 565 | 523 | 44 | ||||||||||||||||||||||||||||||
Total | $ | 14,512 | $ | 7,798 | $ | 12,649 | $ | 21,998 | |||||||||||||||||||||||||||
Name of related | Relationship | September 30, | June 30, | March 31, | December 31, | ||||||||||||||||||||||||||||||
parties | 2012 | 2012 | 2012 | 2011 | |||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||
Shaanxi Yuchang Trading Co., Ltd | Significant influence by Long Steel Group | $ | 2,845 | $ | 3,813 | $ | 13,205 | $ | 24,256 | ||||||||||||||||||||||||||
Sichuan Yutai Trading Co., Ltd | Significant influence by Long Steel Group | 3,462 | - | 10,738 | 5,972 | ||||||||||||||||||||||||||||||
Tianjin Hengying Trading Co, Ltd | Partially owned by CEO through indirect shareholding | 12,668 | - | 20,592 | 1,506 | ||||||||||||||||||||||||||||||
Tianjin General Qiugang Pipe Co., Ltd | Partially owned by CEO through indirect shareholding | 1,157 | - | - | 9,102 | ||||||||||||||||||||||||||||||
Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | 10,372 | 22,516 | 1,713 | 4,755 | ||||||||||||||||||||||||||||||
Shaanxi Coal Sourcing Co., Ltd | Shareholder of Longmen Joint Venture | 13,663 | - | - | - | ||||||||||||||||||||||||||||||
Beijing Shenhua Xinyuan Metal Materials Co., Ltd | Partially owned by CEO through indirect shareholding | - | - | - | 1,345 | ||||||||||||||||||||||||||||||
Shaanxi Haiyan Trade Co.,Ltd | Significant influence by Long Steel Group | 4,576 | 6,985 | 5,911 | 6,822 | ||||||||||||||||||||||||||||||
Shaanxi Junlong Rolling Co., Ltd | Investee of Long Steel Group | 3,283 | 5,770 | 2,026 | 1,540 | ||||||||||||||||||||||||||||||
Tianjin Dazhan Industry Co., Ltd | Partially owned by CEO through indirect shareholding | 17,844 | - | 3,169 | 11,178 | ||||||||||||||||||||||||||||||
Shaanxi Shenganda Trading Co., Ltd | Significant influence by Long Steel Group | 13,160 | - | - | 1,750 | ||||||||||||||||||||||||||||||
Others | Entities either owned or have significant influence by our affiliates or management | 488 | 50 | 49 | 51 | ||||||||||||||||||||||||||||||
Total | $ | 83,518 | $ | 39,134 | $ | 57,403 | $ | 68,277 | |||||||||||||||||||||||||||
Name of related parties | Relationship | September 30, | June 30, 2011 | December 31, | |||||||||||||||||||||||||||||||
2011 | 2010 | ||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||||||||||||||
Hancheng Haiyan Coking Co., Ltd | Noncontrolling shareholder of Long SteelGroup | $ | 7,965 | $ | 5,741 | $ | 5,081 | ||||||||||||||||||||||||||||
Shaanxi Yuchang Trading Co., Ltd | Significant influence by Long Steel Group | 23,256 | 31,768 | - | |||||||||||||||||||||||||||||||
Sichuan Yutai Trading Co., Ltd | Significant influence by Long Steel Group | 9,321 | 89 | - | |||||||||||||||||||||||||||||||
Tianjin Hengying Trading Co, Ltd | Partially owned by CEO through indirect shareholding | 6,384 | 4,902 | - | |||||||||||||||||||||||||||||||
Tianjin General Qiugang Pipe Co., Ltd | Partially owned by CEO through indirect shareholding | 23 | 2,700 | - | |||||||||||||||||||||||||||||||
Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | 171 | 1,149 | 48,161 | |||||||||||||||||||||||||||||||
Beijing Shenhua Xinyuan Metal Materials Co., Ltd | Partially owned by CEO through indirect shareholding | - | 1,324 | 1,299 | |||||||||||||||||||||||||||||||
Shaanxi Steel | Majority shareholder of Long Steel Group | 2,377 | - | - | |||||||||||||||||||||||||||||||
Shaanxi Junlong Rolling Co., Ltd | Investee of Long Steel Group | 2,775 | 2,748 | - | |||||||||||||||||||||||||||||||
Tianjin Dazhan Industry Co., Ltd | Partially owned by CEO through indirect shareholding | 2,113 | - | - | |||||||||||||||||||||||||||||||
Shaanxi Shenganda Trading Co., Ltd | Significant influence by Long Steel Group | - | 15,337 | - | |||||||||||||||||||||||||||||||
Others | Entities either owned or have significant influence by our affiliates or management | - | 48 | 381 | |||||||||||||||||||||||||||||||
Total | $ | 54,385 | $ | 65,806 | $ | 54,922 | |||||||||||||||||||||||||||||
j. | Deposits due to sales representatives – related parties | ||||||||||||||||||||||||||||||||||
Name of related | Relationship | September 30, | June 30, | March 31, | December 31, | ||||||||||||||||||||||||||||||
parties | 3013 | 2013 | 2013 | 2012 | |||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||
Hancheng Haiyan Coking Co., Ltd | Noncontrolling shareholder of Long Steel Group | $ | 587 | $ | 583 | $ | 575 | $ | 619 | ||||||||||||||||||||||||||
Shaanxi Junlong Rolling Co., Ltd | Investee of Long Steel Group | 635 | 632 | 622 | 619 | ||||||||||||||||||||||||||||||
Shaanxi Yuchang Trading Co., Ltd | Significant influence by Long Steel Group | 587 | 583 | 575 | - | ||||||||||||||||||||||||||||||
Total | $ | 1,809 | $ | 1,798 | $ | 1,772 | $ | 1,238 | |||||||||||||||||||||||||||
Name of related | Relationship | September 30, | June 30, | March 31, | December 31, | ||||||||||||||||||||||||||||||
parties | 2012 | 2012 | 2012 | 2011 | |||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||
Hancheng Haiyan Coking Co., Ltd | Noncontrolling shareholder of Long Steel Group | $ | 617 | $ | 618 | $ | 618 | $ | 471 | ||||||||||||||||||||||||||
Shaanxi Junlong Rolling Co., Ltd | Investee of Long Steel Group | 618 | 618 | 618 | 472 | ||||||||||||||||||||||||||||||
Total | $ | 1,235 | $ | 1,236 | $ | 1,236 | $ | 943 | |||||||||||||||||||||||||||
k. | Long-term loans – related party: | ||||||||||||||||||||||||||||||||||
Name of related | Relationship | September 30, | June 30, | March 31, | December 31, | ||||||||||||||||||||||||||||||
party | 3013 | 2013 | 2013 | 2012 | |||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||
Shaanxi Steel | Majority shareholder of Long Steel Group | $ | 24,450 | $ | 29,160 | $ | 33,516 | $ | 38,088 | ||||||||||||||||||||||||||
Total | $ | 24,450 | $ | 29,160 | $ | 33,516 | $ | 38,088 | |||||||||||||||||||||||||||
Name of related | Relationship | September 30, | June 30, | March 31, | December 31, | ||||||||||||||||||||||||||||||
party | 2012 | 2012 | 2012 | 2011 | |||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||
Shaanxi Steel | Majority shareholder of Long Steel Group | $ | 42,741 | $ | 92,856 | $ | 92,797 | $ | 92,035 | ||||||||||||||||||||||||||
Total | $ | 42,741 | $ | 92,856 | $ | 92,797 | $ | 92,035 | |||||||||||||||||||||||||||
Name of related | Relationship | September 30, | June 30, 2011 | December 31, | |||||||||||||||||||||||||||||||
party | 2011 | 2010 | |||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||||||||||||||
Shaanxi Steel | Majority shareholder of Long Steel Group | $ | 107,695 | $ | 134,566 | $ | 91,020 | ||||||||||||||||||||||||||||
Total | $ | 107,695 | $ | 134,566 | $ | 91,020 | |||||||||||||||||||||||||||||
The Company also provided guarantee on related parties’ bank loans amounting to $139.9 million, $139.9 million, $191.6 million, $118.0 million, $61.8 million, $118.1 million, $159.2 million, $56.6 million, $85.0 million, $139.5 million and $3.0 million as of September 30, 2013, June 30, 2013, March 31, 2013, December 31, 2012, September 30, 2012, June 30, 2012, March 31, 2012, December 31, 2011, September 30, 2011, June 30, 2011 and December 31, 2010, respectively. | |||||||||||||||||||||||||||||||||||
l. | Long-term other payable – related party: | ||||||||||||||||||||||||||||||||||
Long-term other payable – related party is a nontrade payable arising from a transaction between the Company and its related party, Shaanxi Steel, in which the Company received an advance from Shaanxi Steel to make payment to a third party for a construction project. | |||||||||||||||||||||||||||||||||||
Name of related | Relationship | September 30, | June 30, 2013 | March 31, | December 31, | ||||||||||||||||||||||||||||||
party | 3013 | 2013 | 2012 | ||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||
Shaanxi Steel | Majority shareholder of Long Steel Group | $ | - | $ | - | $ | 43,252 | $ | 43,008 | ||||||||||||||||||||||||||
Total | $ | - | $ | - | $ | 43,252 | $ | 43,008 | |||||||||||||||||||||||||||
m. | Deferred lease income | ||||||||||||||||||||||||||||||||||
September 30, | June 30, | March 31, | December 31, | ||||||||||||||||||||||||||||||||
2013 | 2013 | 2013 | 2012 | ||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||
Beginning balance | $ | 77,199 | $ | 77,199 | $ | 77,199 | $ | 78,524 | |||||||||||||||||||||||||||
Less: Lease income realized | -1,613 | -1,071 | -532 | -2,119 | |||||||||||||||||||||||||||||||
Exchange rate effect | 2,072 | 1,594 | 436 | 794 | |||||||||||||||||||||||||||||||
Ending balance | 77,658 | 77,722 | 77,103 | 77,199 | |||||||||||||||||||||||||||||||
Current portion | -2,178 | -2,164 | -2,132 | -2,120 | |||||||||||||||||||||||||||||||
Noncurrent portion | $ | 75,480 | $ | 75,558 | $ | 74,971 | $ | 75,079 | |||||||||||||||||||||||||||
September 30, | June 30, | March 31, | December 31, | ||||||||||||||||||||||||||||||||
2012 | 2012 | 2012 | 2011 | ||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||
Beginning balance | $ | 78,524 | $ | 78,524 | $ | 78,524 | $ | 57,591 | |||||||||||||||||||||||||||
Add: Reimbursement for trial production costs | - | - | - | 14,042 | |||||||||||||||||||||||||||||||
Add: Deferred depreciation cost during free use period | - | - | - | 6,904 | |||||||||||||||||||||||||||||||
Less: Lease income realized | -1,588 | -1,060 | -530 | -2,008 | |||||||||||||||||||||||||||||||
Exchange rate effect | 597 | 696 | 646 | 1,995 | |||||||||||||||||||||||||||||||
Ending balance | 77,533 | 78,160 | 78,640 | 78,524 | |||||||||||||||||||||||||||||||
Current portion | -2,115 | -2,117 | -2,116 | -2,099 | |||||||||||||||||||||||||||||||
Noncurrent portion | $ | 75,418 | $ | 76,043 | $ | 76,524 | $ | 76,425 | |||||||||||||||||||||||||||
September 30, 2011 | June 30, 2011 | December 31, 2010 | |||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||||||||||||||
Beginning balance | $ | 57,591 | $ | 57,591 | $ | 16,487 | |||||||||||||||||||||||||||||
Add: Reimbursement for dismantled assets | - | - | 568 | ||||||||||||||||||||||||||||||||
Add: Reimbursement for loss of efficiency | - | - | 20,676 | ||||||||||||||||||||||||||||||||
Add: Reimbursement for trial production costs | 13,988 | 14,096 | 13,584 | ||||||||||||||||||||||||||||||||
Add: Deferred depreciation cost during free use period | 6,878 | 6,799 | 6,656 | ||||||||||||||||||||||||||||||||
Less: Lease income realized | -1,489 | -964 | -943 | ||||||||||||||||||||||||||||||||
Exchange rate effect | 1,481 | 827 | 563 | ||||||||||||||||||||||||||||||||
Ending balance | 78,449 | 78,349 | 57,591 | ||||||||||||||||||||||||||||||||
Current portion | -2,091 | -2,067 | -1,971 | ||||||||||||||||||||||||||||||||
Noncurrent portion | $ | 76,358 | $ | 76,282 | $ | 55,620 | |||||||||||||||||||||||||||||
For the three months ended September 30, 2013, 2012, 2011 and 2010, the Company recognized lease income of $0.5 million, $0.5 million, $0.5 million and $0.3 million, respectively. For the nine months ended September 30, 2013, 2012, 2011 and 2010, the Company recognized $1.6 million, $1.6 million, $1.5 million and $0.6 million, respectively. For the three months ended June 30, 2013, 2012, 2011 and 2010, the Company recognized $0.5 million, $0.5 million, $0.5 million and $0.2 million, respectively. For the six months ended June 30, 2013, 2012, 2011 and 2010, the Company recognized $1.1 million, $1.1 million, $1.0 million and $0.3 million, respectively. For the three months ended March 31, 2013, 2012 and 2011, the Company recognized $0.5 million in each period. | |||||||||||||||||||||||||||||||||||
Equity
Equity | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2013 | |||||||||||||||||||||
Equity [Abstract] | ' | ' | ||||||||||||||||||||
Stockholders' Equity Note Disclosure [Text Block] | ' | ' | ||||||||||||||||||||
Note 22 - Equity | Note 22 – Equity | |||||||||||||||||||||
2011 Equity Transactions | Preferred Stock | |||||||||||||||||||||
On March 31, 2011, the Company granted senior management and directors 240,734 shares of common stock at $2.40 per share, as compensation under the Company’s 2008 Equity Incentive Plan. The shares were valued at the quoted market price on the grant date. The Company recorded compensation expense of $0.6 million. | On May 18, 2007, the Company entered into a Purchase Agreement with Victory New Holdings Limited (“Victory New”), a British Virgin Islands registered company under the control of the Company’s Chairman, CEO and majority shareholder, Zuosheng Yu (aka Henry Yu), to acquire Victory New’s 30% interest in General Steel (China). The Company agreed to issue to Victory New an aggregate of 3,092,899 shares of its Series A Preferred Stock with a fair value of $8,374,000. These shares of Series A Preferred Stock carry a voting power of 30% of the combined voting power of the Company’s common and preferred stock while outstanding. The holders of preferred stock are entitled to receive noncumulative dividends, when and if declared by the board of directors. Dividends are not mandatory and shall not accrue. Preferred shares are non-redeemable. | |||||||||||||||||||||
On June 1, 2011, the Company announced an increase of additional 1,000,000 shares of common stock may be purchased under the Share Repurchase Program launched in December 2010, bringing the total authorized shares of its common stock available for purchase to 2,000,000. During the year ended December 31, 2011, the Company has repurchased 774,218 shares with $1.9 million pursuant to the Share Repurchase Program. The Company had a total of 1,090,978 shares of treasury stock as of December 31, 2011. | 2010 Equity Transactions | |||||||||||||||||||||
On June 16, 2011, the Company and Maoming Hengda entered into a Debt Repayment Agreement with Guangzhou Hengda and its sole shareholder Ms Ding Yumei whereby the Company issued 974,571 shares of its common stock to Ms Ding Yumei, the designee and sole shareholder of Guangzhou Hengda, to repay loan balance of $4.8 million due to Guangzhou Hengda. | The Company granted senior management and directors 733,300 shares of common stock as compensation in 2010. The shares were valued at the quoted market price on the grant date. The Company recorded compensation expense of $2.2 million for the year ended December 31, 2010. | |||||||||||||||||||||
On June 28, 2011, the Company granted senior management and directors 191,150 shares of common stock at $1.44 per share, as compensation under the Company’s 2008 Equity Incentive Plan. The shares were valued at the quoted market price on the grant date. The Company recorded compensation expense of $0.3 million. | On June 7, 2010, the Company issued 928,163 shares of common stock to one of Maoming Hengda’s creditors to settle certain short-term loans. | |||||||||||||||||||||
On September 26, 2011, the Company granted senior management and directors 189,650 shares of common stock at $1.18 per share, as compensation under the Company’s 2008 Equity Incentive Plan. The shares were valued at the quoted market price on the grant date. The Company recorded compensation expense of $0.2 million. | On August 4, 2010, $3.5 million of the Notes were converted to 1,208,791 shares of common stock. According to the Notes agreement, the Company incurred make-whole amount of $0.7 million and accrued interest expense of $0.2 million settled in shares on conversion and 350,885 shares of common stock were issued. | |||||||||||||||||||||
On December 28, 2011, the Company granted senior management and directors 166,150 shares of common stock at $1.04 per share, as compensation under the Company’s 2008 Equity Incentive Plan. The shares were valued at the quoted market price on the grant date. The Company recorded compensation expense of $0.2 million. | On December 21, 2010, the Company’s Board of Directors authorized to repurchase up to an aggregate of 1,000,000 shares of the Company’s common stock as part of a share repurchase program (the “Share Repurchase Program”). The Share Repurchase Program does not have an expiration date and these repurchases may be made from time to time in the open market or in privately negotiated transactions in accordance with applicable laws. As of December 31, 2010, the Company has repurchased 316,760 shares for a total cost of $0.9 million. | |||||||||||||||||||||
2012 Equity Transactions | 2011 Equity Transactions | |||||||||||||||||||||
On March 1, 2012, Longmen Joint Venture sold its 22.76% equity interest of Tongxing to two individuals, who are the representatives from Long Steel Group. As of March 1, 2012, Tongxing had a carrying value of net assets of $40.5 million which were included in the consolidated net assets of the Company and a noncontrolling interest in Tongxing of $32.5 million. The Company retained the land use right associated with the Tongxing property adjacent to the Longmen Joint Venture facility, which had a carrying value of $3.6 million immediately prior to the transaction and relinquished its controlling interest in the remaining net assets (primarily operating assets). In connection with the transaction, the Company also settled with a payable in cash of $0.3 million and transferred the dividend receivable of $0.9 million from Tongxing to the two individuals. These arrangements meet the criteria of ASC 810-10-40-6b and 6d, deconsolidation of a Subsidiary with multiple arrangements treated as a single transaction. As the land use rights held in Tongxing have been included as part of the Company’s consolidated assets, this transaction was considered as a change in the Company’s ownership interest in the land use right similar to a change in a parent company’s ownership interest in a subsidiary in accordance with ASC 810-10-45-23 and therefore the carrying value of the land use right was not stepped up to fair value. The net impact of these transactions resulted in a reduction of $3.1 million paid-in capital. | On March 31, 2011, the Company granted senior management and directors 240,734 shares of common stock at $2.40 per share, as compensation. The shares were valued at the quoted market price on the grant date. The Company recorded compensation expense of $0.6 million. | |||||||||||||||||||||
The following is a reconciliation of Tongxing’s noncontrolling interest for the nine months ended September 30, 2012: | On June 1, 2011, the Company announced an increase of additional 1,000,000 shares of common stock may be purchased under the Share Repurchase Program launched in December 2010, bringing the total authorized shares of its common stock available for purchase to 2,000,000. During the year ended December 31, 2011, the Company has repurchased 774,218 shares with $1.9 million pursuant to the Share Repurchase Program. The Company had a total of 1,090,978 shares of treasury stock as of December 31, 2011. | |||||||||||||||||||||
(in thousands) | Noncontrolling interest | On June 16, 2011, the Company and Maoming Hengda entered into a Debt Repayment Agreement with Guangzhou Hengda and its sole shareholder Ms. Ding Yumei whereby the Company issued 974,571 shares of its common stock to Ms. Ding Yumei, the designee and sole shareholder of Guangzhou Hengda, to repay loan balance of $4.8 million due to Guangzhou Hengda. | ||||||||||||||||||||
Total | Tongxing | Others | ||||||||||||||||||||
Balance at December 31, 2011 | $ | -56,189 | $ | 32,934 | $ | -89,123 | On June 28, 2011, the Company granted senior management and directors 191,150 shares of common stock at $1.44 per share, as compensation. The shares were valued at the quoted market price on the grant date. The Company recorded compensation expense of $0.3 million. | |||||||||||||||
Net income (loss) attributable to noncontrolling interest | -61,336 | 341 | -61,677 | |||||||||||||||||||
Addition to special reserve | 351 | - | 351 | On September 26, 2011, the Company granted senior management and directors 189,650 shares of common stock at $1.18 per share, as compensation. The shares were valued at the quoted market price on the grant date. The Company recorded compensation expense of $0.2 million. | ||||||||||||||||||
Usage of special reserve | -350 | - | -350 | |||||||||||||||||||
Deconsolidation of Tongxing | -35,943 | -33,654 | -2,289 | On December 28, 2011, the Company granted senior management and directors 166,150 shares of common stock at $1.04 per share, as compensation. The shares were valued at the quoted market price on the grant date. The Company recorded compensation expense of $0.2 million. | ||||||||||||||||||
Foreign currency translation adjustments | -385 | 379 | -764 | |||||||||||||||||||
Balance at September 30, 2012 | $ | -153,852 | $ | - | $ | -153,852 | 2012 Equity Transactions | |||||||||||||||
On March 26, 2012, the Company granted senior management and directors 165,400 shares of common stock at $0.75 per share, as compensation under the Company’s 2008 Equity Incentive Plan. The shares were valued at the quoted market price on the grant date. The Company recorded compensation expense of $0.1 million. | On March 1, 2012, Longmen Joint Venture sold its 22.76% equity interest of Tongxing to two individuals, who are the representatives from Long Steel Group. As of March 1, 2012, Tongxing had a carrying value of net assets of $40.5 million which were included in the consolidated net assets of the Company and a noncontrolling interest in Tongxing of $32.5 million. The Company retained the land use right associated with the Tongxing property adjacent to the Longmen Joint Venture facility, which had a carrying value of $3.6 million immediately prior to the transaction and relinquished its controlling interest in the remaining net assets (primarily operating assets). In connection with the transaction, the Company also settled with a payable in cash of $0.3 million and transferred the dividend receivable of $0.9 million from Tongxing to the two individuals. These arrangements meet the criteria of ASC 810-10-40-6b and 6d, deconsolidation of a Subsidiary with multiple arrangements treated as a single transaction. As the land use rights held in Tongxing have been included as part of the Company’s consolidated assets, this transaction was considered as a change in the Company’s ownership interest in the land use right similar to a change in a parent company’s ownership interest in a subsidiary in accordance with ASC 810-10-45-23 and therefore the carrying value of the land use right was not stepped up to fair value. The net impact of these transactions resulted in a reduction of $3.1 million paid-in capital. | |||||||||||||||||||||
On March 27, 2012, we launched another share repurchase program to repurchase up to an aggregate of 2,000,000 shares of our common stock. Together with the previous share repurchase program launched in December 2010 and this newly announced Share Repurchase Program, it brought the total authorized shares of our common stock available for purchase to 4,000,000. During the nine months ended September 30, 2012, the Company has repurchased 1,381,328 shares with $1.4 million pursuant to the Share Repurchase Program. The Company had a total of 2,472,306 shares of treasury stock as of September 30, 2012. | The following is a reconciliation of the Company’s noncontrolling interest for the year ended December 31, 2012: | |||||||||||||||||||||
On June 28, 2012, the Company granted senior management and directors 165,400 shares of common stock at $0.80 per share, as compensation under the Company’s 2008 Equity Incentive Plan. The shares were valued at the quoted market price on the grant date. The Company recorded compensation expense of $0.1 million. | (in thousands) | Noncontrolling interest | ||||||||||||||||||||
Total | Tongxing | Others | ||||||||||||||||||||
On September 27, 2012, the Company granted senior management and directors 167,900 shares of common stock at $1.29 per share, as compensation under the Company’s 2008 Equity Incentive Plan. The shares were valued at the quoted market price on the grant date. The Company recorded compensation expense of $0.2 million. | Balance at December 31, 2011 | $ | -56,189 | $ | 32,934 | $ | -89,123 | |||||||||||||||
Net income (loss) attributable to noncontrolling interest | -79,241 | 341 | -79,582 | |||||||||||||||||||
2013 Equity Transactions | Addition to special reserve | 605 | - | 605 | ||||||||||||||||||
Usage of special reserve | -566 | - | -566 | |||||||||||||||||||
On March 28, 2013, the Company granted senior management and directors 174,900 shares of common stock at $1.01 per share, as compensation under the Company’s 2008 Equity Incentive Plan. The shares were valued at the quoted market price on the grant date. | Deconsolidation of Tongxing | -35,943 | -33,654 | -2,289 | ||||||||||||||||||
Foreign currency translation adjustments | -729 | 379 | -1,108 | |||||||||||||||||||
On June 27, 2013, the Company granted senior management and directors 163,150 shares of common stock at $1.02 per share, as compensation under the Company’s 2008 Equity Incentive Plan. The shares were valued at the quoted market price on the grant date. | Balance at December 31, 2012 | $ | -172,063 | $ | - | $ | -172,063 | |||||||||||||||
On August 16, 2013, an additional $45.1 million (or RMB 280 million) was contributed to Tianwu Joint Venture with $27.0 million (or RMB 168 million) contributed by the Company and $18.0 million (or RMB 112 million) contributed by Tianjin Material and Equipment Group Corporation (“TME Group”). The Company’s controlling interest of Tianwu Joint Venture remains at 60% after the capital contribution. | On March 26, 2012, the Company granted senior management and directors 165,400 shares of common stock at $0.75 per share, as compensation under the Company’s 2008 Equity Incentive Plan. The shares were valued at the quoted market price on the grant date. The Company recorded compensation expense of $0.1 million. | |||||||||||||||||||||
On September 28, the Company granted senior management and directors 163,150 shares of common stock at $0.88 per share as compensation under the Company’s 2008 Equity Incentive Plan. The shares were valued at the quoted market price on the grant date. | On March 27, 2012, we launched another share repurchase program to repurchase up to an aggregate of 2,000,000 shares of our common stock. Together with the previous share repurchase program launched in December 2010 and this newly announced Share Repurchase Program, it brought the total authorized shares of our common stock available for purchase to 4,000,000. During the year ended December 31, 2012, the Company has repurchased 1,381,328 shares with $1.4 million pursuant to the Share Repurchase Program. The Company had a total of 2,472,306 shares of treasury stock as of December 31, 2012. | |||||||||||||||||||||
On June 28, 2012, the Company granted senior management and directors 165,400 shares of common stock at $0.80 per share, as compensation under the Company’s 2008 Equity Incentive Plan. The shares were valued at the quoted market price on the grant date. The Company recorded compensation expense of $0.1 million. | ||||||||||||||||||||||
On September 27, 2012, the Company granted senior management and directors 167,900 shares of common stock at $1.29 per share, as compensation under the Company’s 2008 Equity Incentive Plan. The shares were valued at the quoted market price on the grant date. The Company recorded compensation expense of $0.2 million. | ||||||||||||||||||||||
On December 28, 2012, the Company granted senior management and directors 169,150 shares of common stock at $1.00 per share, as compensation under the Company’s 2008 Equity Incentive Plan. The shares were valued at the quoted market price on the grant date. The Company recorded compensation expense of $0.2 million. | ||||||||||||||||||||||
2013 Equity Transactions | ||||||||||||||||||||||
On March 28, 2013, the Company granted senior management and directors 174,900 shares of common stock at $1.01 per share, as compensation under the Company’s 2008 Equity Incentive Plan. The shares were valued at the quoted market price on the grant date. | ||||||||||||||||||||||
On June 27, 2013, the Company granted senior management and directors 163,150 shares of common stock at $1.02 per share, as compensation under the Company’s 2008 Equity Incentive Plan. The shares were valued at the quoted market price on the grant date. | ||||||||||||||||||||||
On August 16, 2013, an additional $45.1 million (or RMB 280 million) was contributed to Tianwu Joint Venture with $27.0 million (or RMB 168 million) contributed by the Company and $18.0 million (or RMB 112 million) contributed by Tianjin Material and Equipment Group Corporation (“TME Group”). The Company’s controlling interest of Tianwu Joint Venture remains at 60% after the capital contribution. | ||||||||||||||||||||||
On September 28, 2013, the Company granted senior management and directors 163,150 shares of common stock at $0.88 per share as compensation under the Company’s 2008 Equity Incentive Plan. The shares were valued at the quoted market price on the grant date. | ||||||||||||||||||||||
On October 11, 2013, the Company granted 300,000 shares of common stock at $0.85 per share as service fee for corporate advisory services under a one year service agreement dated September 25, 2013. The shares were valued at the quoted market price on the grant date. | ||||||||||||||||||||||
On December 30, 2013, the Company granted senior management and directors 163,650 shares of common stock at $0.91 per share as compensation under the Company’s 2008 Equity Incentive Plan. The shares were valued at the quoted market price on the grant date. | ||||||||||||||||||||||
Prior to November 19, 2013, the Company held a combined 60.0% equity interest in Tianwu. 32% interest was held by General Steel (China) and 28% interest was held by Yangpu Shengtong. On November 19, 2013, the Company sold its 28% equity interest of Tianwu held by Yangpu Shengtong to Tianjin Dazhan Industry Co., Ltd., a related party through indirect common ownership, for $13.6 million (RMB 84.3 million) while retaining the 32% interest held by General Steel (China). As a result of this transaction, the Company met the criteria under ASC 810-10-40-4 to deconsolidate Tianwu at disposal date and recognized a gain in accordance with ASC 810-10-40-5. At the same time, Tianwu’s cumulative translation adjustment as of the disposal date was released to net income in accordance with ASC 830-30-40-1A. The total gain from the deconsolidation of Tianwu amounted to $1.0 million. | ||||||||||||||||||||||
The following is a reconciliation of the Company’s noncontrolling interest for the year ended December 31, 2013: | ||||||||||||||||||||||
(in thousands) | Noncontrolling interest | |||||||||||||||||||||
Total | Tianwu | Others | ||||||||||||||||||||
Balance at December 31, 2012 | $ | -172,063 | $ | 1,339 | $ | -173,402 | ||||||||||||||||
Net income (loss) attributable to noncontrolling interest | -9,609 | 2 | -9,611 | |||||||||||||||||||
Addition to special reserve | 553 | - | 553 | |||||||||||||||||||
Usage of special reserve | -393 | - | -393 | |||||||||||||||||||
Addition to Tianwu paid-in capital | 18,028 | 18,028 | - | |||||||||||||||||||
Deconsolidation of a subsidiary | -19,929 | -19,929 | - | |||||||||||||||||||
Foreign currency translation adjustments | -5,498 | 560 | -6,058 | |||||||||||||||||||
Balance at December 31, 2013 | $ | -188,911 | $ | - | $ | -188,911 | ||||||||||||||||
Retirement_plan
Retirement plan | 9 Months Ended | 12 Months Ended |
Sep. 30, 2013 | Dec. 31, 2013 | |
Compensation and Retirement Disclosure [Abstract] | ' | ' |
Pension and Other Postretirement Benefits Disclosure [Text Block] | ' | ' |
Note 23 – Retirement plan | Note 23 – Retirement plan | |
Regulations in the PRC require the Company to contribute to a defined contribution retirement plan for all employees. All the employees of the Company’s entities in China are entitled to a retirement pension amount calculated based upon their salary at their date of retirement and their length of service in accordance with a government managed pension plan. The PRC government is responsible for the pension liability to the retired staff. The Company’s entities in China are required to contribute based on the higher of 20% of the employees’ monthly base salary or 12% of the minimum social average salary of the city where the facilities are located. Employees are required to contribute 8% of their base salary to the plan. The minimum social average salary is announced by the local Social Security bureau and updated annually. Total pension expense incurred by the Company was $2.3 million, $1.7 million, $1.5 million and $1.2 million for the three months ended September 30, 2013, 2012, 2011 and 2010, respectively, and for the nine months ended September 30, 2013, 2012, 2011 and 2010 amounted to $6.4 million, $5.5 million, $4.7 million $3.4 million, respectively. Total pension expense incurred by the Company was $1.9 million, $2.0 million, $1.7 million and $1.1 million, for the three months ended June 30, 2013, 2012, 2011 and 2010, respectively, and for the six months ended June 30, 2013, 2012, 2011 and 2010 amounted to $4.1 million, $3.8 million, $3.2 million and $2.2 million, respectively. Total pension expense incurred by the Company was $2.2 million, $1.8 million and $1.5 million for the three months ended March 31, 2013, 2012 and 2011, respectively. | Regulations in the PRC require the Company to contribute to a defined contribution retirement plan for all employees. All the employees of the Company’s entities in China are entitled to a retirement pension amount calculated based upon their salary at their date of retirement and their length of service in accordance with a government managed pension plan. The PRC government is responsible for the pension liability to the retired staff. The Company’s entities in China are required to contribute based on the higher of 20% of the employees’ monthly base salary or 12% of the minimum social average salary of the city where the facilities are located. Employees are required to contribute 8% of their base salary to the plan. The minimum social average salary is announced by the local Social Security bureau and updated annually. Total pension expense incurred by the Company for the years ended December 31, 2013, 2012, 2011 and 2010 amounted to $8.5 million, $7.4 million, $7.0 million and $5.1 million, respectively. | |
Statutory_reserves
Statutory reserves | 9 Months Ended | 12 Months Ended |
Sep. 30, 2013 | Dec. 31, 2013 | |
Statutory Reserves [Abstract] | ' | ' |
Statutory Reserves [Text Block] | ' | ' |
Note 24 – Statutory reserves | Note 24 – Statutory reserves | |
The laws and regulations of the People’s Republic of China require that before a foreign -invested enterprise distributes profits to its shareholders, it must first satisfy all tax liabilities, provision for losses in previous years, and make allocations, in proportions determined at the discretion of the board of directors, to the statutory reserves. The statutory reserves include the surplus reserve funds and the enterprise fund and these statutory reserves represent restricted retained earnings. | The laws and regulations of the People’s Republic of China require that before a foreign -invested enterprise distributes profits to its shareholders, it must first satisfy all tax liabilities, provision for losses in previous years, and make allocations, in proportions determined at the discretion of the board of directors, to the statutory reserves. The statutory reserves include the surplus reserve funds and the enterprise fund and these statutory reserves represent restricted retained earnings. | |
Surplus reserve fund | Surplus reserve fund | |
The Company is required to transfer 10% of its net income, as determined in accordance with the PRC accounting rules and regulations, to a statutory surplus reserve fund until such reserve balance reaches 50% of the Company’s registered capital. | The Company is required to transfer 10% of its net income, as determined in accordance with the PRC accounting rules and regulations, to a statutory surplus reserve fund until such reserve balance reaches 50% of the Company’s registered capital. | |
The transfer to this reserve must be made before distribution of any dividend to shareholders. The surplus reserve fund is non-distributable other than during liquidation and can be used to fund previous years’ losses, if any, and may be utilized for business expansion or converted into share capital by issuing new shares to existing shareholders in proportion to their shareholding or by increasing the par value of the shares currently held by them, provided that the remaining reserve balance after such issue is not less than 25% of the registered capital. For the periods ended September 30, 2013, 2012, 2011, and 2010, June 30, 2013, 2012, 2011 and 2010, and March 31, 2013, 2012 and 2011, the Company did not make any contributions to these reserves. | The transfer to this reserve must be made before distribution of any dividend to shareholders. The surplus reserve fund is non-distributable other than during liquidation and can be used to fund previous years’ losses, if any, and may be utilized for business expansion or converted into share capital by issuing new shares to existing shareholders in proportion to their shareholding or by increasing the par value of the shares currently held by them, provided that the remaining reserve balance after such issue is not less than 25% of the registered capital. For the years ended December 31, 2013, 2012 and 2010, the Company did not make any contributions to these reserves. For the year ended December 31, 2011, the Company made contributions of $0.1 million to these reserves. | |
Special reserve | Special reserve | |
The Company is required by the PRC government to reserve safety and maintenance expense to the cost of production based on the actual quantity of mineral exploited. The amount of reserves is determined within the unit price range provided by Ministry of Finance of PRC. For the nine months ended September 30, 2013, 2012, 2011 and 2010, the Company made contributions of $0.7 million, $0.9 million, $0.3 million and $0 to these reserves, respectively and used $0.4 million, $0.9 million, $0 and $0 of safety and maintenance expense, respectively. For the six months ended June 30, 2013, 2012, 2011 and 2010, the Company made contributions of $0.5 million, $0.7 million, $0.3 million and $0 to these reserves, respectively and used $0.3 million, $0.3 million, $0 and $0 of safety and maintenance expense, respectively. For the three months ended March 31, 2013, 2012 and 2011, the Company made contributions of $0.2 million, $0.4 million and $0.1 million to these reserves, respectively and used $0.1 million, $0.2 million and $0 of safety and maintenance expense, respectively. | The Company is required by the PRC government to reserve safety and maintenance expense to the cost of production based on the actual quantity of mineral exploited. The amount of reserves is determined within the unit price range provided by Ministry of Finance of PRC. For the years ended December 31, 2013, 2012, 2011 and 2010, the Company made contributions of $1.2 million, $1.3 million, $82.0 thousand and $40.0 thousand to these reserves, respectively and used $0.8 million, $1.3 million, $0 and $0 of safety and maintenance expense, respectively. | |
Commitment_and_contingencies
Commitment and contingencies | 9 Months Ended | 12 Months Ended | ||||||||||||
Sep. 30, 2013 | Dec. 31, 2013 | |||||||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | ' | ||||||||||||
Commitments and Contingencies Disclosure [Text Block] | ' | ' | ||||||||||||
Note 25 – Commitment and contingencies | Note 25 – Commitment and contingencies | |||||||||||||
Operating Lease Commitments | Operating Lease Commitments | |||||||||||||
Total operating lease commitments for rental of offices, buildings, equipment and land use rights of the Company’s PRC subsidiaries as of September 30, 2013 is as follows: | Total operating lease commitments for rental of offices, buildings, equipment and land use rights of the Company’s PRC subsidiaries as of December 31, 2013 is as follows: | |||||||||||||
Year ending September 30, | Minimum lease payment | Year ending December 31, | Minimum lease | |||||||||||
(in thousands) | payment | |||||||||||||
(Unaudited) | (in thousands) | |||||||||||||
2014 | $ | 1,445 | 2014 | $ | 1,450 | |||||||||
2015 | 680 | 2015 | 683 | |||||||||||
2016 | 559 | 2016 | 562 | |||||||||||
2017 | 559 | 2017 | 562 | |||||||||||
2018 | 559 | 2018 | 562 | |||||||||||
Years after | 20,185 | Years after | 19,955 | |||||||||||
Total minimum payments required | $ | 23,987 | Total minimum payments required | $ | 23,774 | |||||||||
Total rental expense was $0.8 million, $0.8 million, $0.3 million and $0.07 million for the three months ended September 30, 2013, 2012, 2011 and 2010, respectively, and $2.4 million, $2.4 million, $0.9 million and $0.2 million for the nine months ended September 30, 2013, 2012, 2011 and 2010, respectively. | Total rental expense was $3.2 million, $3.3 million, $0.3 million and $0.4 million for the years ended December 31, 2013, 2012, 2011 and 2010, respectively. | |||||||||||||
Total rental expense was $0.8 million, $0.9 million, $0.3 million and $0.07 million for the three months ended June 30, 2013, 2012, 2011 and 2010, respectively, and $1.6 million, $1.6 million, $0.6 million and $0.1 million, for the six months ended June 30, 2013, 2012, 2011 and 2010, respectively | Contractual Commitments | |||||||||||||
Total rental expense was $0.8 million, $0.7 million and $0.3 million for the three months ended March 31, 2013, 2012 and 2011, respectively. | Longmen Joint Venture has $353.0 million contractual obligations related to construction projects as of December 31, 2013 estimated to be fulfilled between January and December 2014. | |||||||||||||
Contractual Commitments | Contingencies | |||||||||||||
Longmen Joint Venture has $211.6 million contractual obligations related to construction projects as of September 30, 2013 estimated to be fulfilled between November 2013 and September 2014. | As of December 31, 2013, Longmen Joint Venture provided guarantees to related parties’ and third parties’ bank loans, including lines of credit and others, amounting to $326.8 million. | |||||||||||||
Contingencies | Nature of guarantee | Guarantee | Guaranty Due Date | |||||||||||
amount | ||||||||||||||
As of September 30, 2013, Longmen Joint Venture provided guarantees to related parties’ and third parties’ bank loans, including lines of credit and others, amounting to $304.6 million. | (In thousands) | |||||||||||||
Line of credit | $ | 226,618 | Various from January 2014 to August 2015 | |||||||||||
Nature of guarantee | Guarantee | Guaranty Due Date | Three-party financing agreements | 13,096 | Various from January to July 2014 | |||||||||
amount | Confirming storage | 41,252 | Various from March to December 2014 | |||||||||||
(In thousands) | Financing by the rights of goods delivery in future | 45,836 | Various from April to October 2014 | |||||||||||
Line of credit | $ | 178,931 | Various from October 2013 to August 2015 | Total | $ | 326,802 | ||||||||
Three-party financing agreements | 42,315 | Various from October 2013 to January 2014 | ||||||||||||
Confirming storage | 19,951 | Various from December 2013 to September 2014 | Name of parties being guaranteed | Guarantee amount | Guaranty Due Date | |||||||||
Financing by the rights of goods delivery in future | 63,374 | Various from December 2013 to March 2015 | (In thousands) | |||||||||||
Total | $ | 304,571 | Long Steel Group | $ | 68,099 | Various from February 2014 to August 2015 | ||||||||
Hancheng Haiyan Coking Co., Ltd | 46,818 | Various from January to December 2014 | ||||||||||||
Name of parties being guaranteed | Guarantee | Guaranty Due Date | Long Steel Group Fuping Rolling Steel Co., Ltd | 16,820 | Various from January to June 2014 | |||||||||
amount | Yichang Zhongyi Industrial Co., Ltd | 28,909 | Jun-14 | |||||||||||
(In thousands) | Xi’an Laisheng Logistics Co., Ltd | 6,548 | May-14 | |||||||||||
Long Steel Group | $ | 74,819 | Various from October 2013 to August 2015 | Xi'an Kaiyuan Steel Sales Co., Ltd | 1,637 | Jan-14 | ||||||||
Hancheng Haiyan Coking Co., Ltd | 42,315 | Various from October 2013 to January 2014 | Shaanxi Anlin Logistics Co., Ltd | 6,548 | Apr-14 | |||||||||
Long Steel Group Fuping Rolling Steel Co., Ltd | 11,271 | Various from January to June 2014 | Shaanxi Huatai Huineng Group Co., Ltd | 24,555 | Mar-14 | |||||||||
Yichang Zhongyi Industrial Co., Ltd | 25,428 | Jun-14 | Hancheng Sanli Furnace Burden Co., Ltd. | 16,370 | Mar-15 | |||||||||
Xi’an Laisheng Logistics Co., Ltd | 4,303 | May-14 | Tianjin Dazhan Industry Co., Ltd | 45,018 | Various from January 2014 to March 2015 | |||||||||
Xi'an Kaiyuan Steel Sales Co., Ltd | 3,733 | Various from November 2013 to January 2014 | Tianjin Hengying Trading Co., Ltd | 40,925 | Various from January to October 2014 | |||||||||
Shaanxi Hongan Material Co., Ltd. | 5,379 | Various from October to December 2013 | Tianjin Qiu Steel Pipe Industry Co., Ltd | 4,911 | Apr-14 | |||||||||
Shaanxi Anlin Logistics Co., Ltd | 7,726 | Various from December 2013 to April 2014 | Jinmen Desheng Metallurty Co., Ltd | 19,644 | Aug-14 | |||||||||
Chengdu Zhongyi Steel Co., Ltd | 3,977 | Dec-13 | Total | $ | 326,802 | |||||||||
Shaanxi Huatai Huineng Group Co., Ltd | 24,450 | Mar-14 | ||||||||||||
Hancheng Sanli Furnace Burden Co., Ltd. | 16,300 | Mar-15 | As of December 31, 2013, the Company did not accrue any liability for the amounts the Group has guaranteed for third and related parties because those parties are current in their payment obligations and the Company has not experienced any losses from providing guarantees. The Company has evaluated the debt guarantees and concluded that the likelihood of having to make payments under the guarantees is remote and that the fair value of the stand-ready obligation under these commitments is not material. | |||||||||||
Tianjin Dazhan Industry Co., Ltd | 44,238 | Various from January 2014 to March 2015 | ||||||||||||
Tianjin Hengying Trading Co., Ltd | 19,637 | Various from January to July 2014 | ||||||||||||
Tianjin Qiu Steel Pipe Industry Co., Ltd | 11,410 | Apr-14 | ||||||||||||
Jinmen Desheng Metallurty Co., Ltd | 3,260 | Aug-14 | ||||||||||||
Shaanxi Baolong Industry Co., Ltd | 2,347 | Nov-13 | ||||||||||||
Shaanxi Longan Industrial Development Co., Ltd | 3,978 | Nov-13 | ||||||||||||
Total | $ | 304,571 | ||||||||||||
As of September 30, 2013, the Company did not accrue any liability for the amounts the Group has guaranteed for third and related parties because those parties are current in their payment obligations and the Company has not experienced any losses from providing guarantees. The Company has evaluated the debt guarantees and concluded that the likelihood of having to make payments under the guarantees is remote and that the fair value of the stand-ready obligation under these commitments is not material. | ||||||||||||||
Segments
Segments | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2013 | |||||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | ' | ||||||||||||||||||||||||||
Segment Reporting Disclosure [Text Block] | ' | ' | ||||||||||||||||||||||||||
Note 26 – Segments (Restated) | Note 26 – Segments (restated) | |||||||||||||||||||||||||||
The Company’s chief operating decision maker evaluates performance and determines resource allocations based on a number of factors, the primary measure being income from operations of the Group’s four regional divisions in the PRC: Longmen Joint Venture in Shaanxi province, Maoming Hengda in Guangdong province, Baotou Steel Pipe Joint Venture in Inner Mongolia province and General Steel (China) & Tianwu Joint Venture in Tianjin City. | The Company’s chief operating decision maker evaluates performance and determines resource allocations based on a number of factors, the primary measure being income from operations of the Group’s four regional divisions in the PRC: Longmen Joint Venture in Shaanxi province, Maoming Hengda in Guangdong province, Baotou Steel Pipe Joint Venture in Inner Mongolia province and General Steel (China) & Tianwu Joint Venture in Tianjin City. | |||||||||||||||||||||||||||
The Group operates in one business segment that includes four different divisions. These reportable divisions are consistent with the way the Company manages its business, each division operates under separate management groups and produces discrete financial information. The accounting principles applied at the operating division level in determining income from operations is generally the same as those applied at the consolidated financial statement level. | The Group operates in one business segment that includes four different divisions. These reportable divisions are consistent with the way the Company manages its business, each division operates under separate management groups and produces discrete financial information. The accounting principles applied at the operating division level in determining income from operations is generally the same as those applied at the consolidated financial statement level. | |||||||||||||||||||||||||||
The following represents results of division operations for three months ended September 30, 2013, 2012, 2011 and 2010: | The following represents results of division operations for the years ended December 31, 2013, 2012, 2011 and 2010: | |||||||||||||||||||||||||||
(In thousands) | Sales: | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||||||
Sales: | 2013 | 2012 | 2011 | 2010 | Longmen Joint Venture | $ | 2,450,256 | $ | 2,837,608 | $ | 3,496,551 | $ | 1,846,080 | |||||||||||||||
Longmen Joint Venture | $ | 606,444 | $ | 708,974 | $ | 986,938 | $ | 455,028 | Maoming Hengda | 3,814 | 6,502 | 9,946 | 10,011 | |||||||||||||||
Maoming Hengda | 252 | 1,134 | 3,938 | 1,960 | Baotou Steel Pipe Joint Venture | 5,585 | 6,760 | 8,036 | 12,315 | |||||||||||||||||||
Baotou Steel Pipe Joint Venture | 2,921 | 1,322 | 3,436 | 3,267 | General Steel (China) & Tianwu Joint Venture | 58,630 | 161,613 | 267,543 | 68,918 | |||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | 4,236 | 129,341 | 91,727 | 15,994 | Total sales | 2,518,285 | 3,012,483 | 3,782,076 | 1,937,324 | |||||||||||||||||||
Total sales | 613,853 | 840,771 | $ | 1,086,039 | $ | 476,249 | Interdivision sales | -54,538 | -148,890 | -218,180 | -55,184 | |||||||||||||||||
Interdivision revenue | (3,758 | -129,346 | -87,878 | -15,972 | Consolidated sales | $ | 2,463,747 | $ | 2,863,593 | $ | 3,563,896 | $ | 1,882,140 | |||||||||||||||
Consolidated sales | $ | 610,095 | $ | 711,425 | $ | 998,161 | $ | 460,277 | ||||||||||||||||||||
Gross profit (loss): | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||||||||
Gross profit | 2013 | 2012 | 2011 | 2010 | Longmen Joint Venture | $ | -56,065 | $ | 29,512 | $ | -86,308 | $ | 32,751 | |||||||||||||||
Longmen Joint Venture | $ | 8,122 | $ | -18,417 | $ | 29,400 | $ | 14,304 | Maoming Hengda | -130 | -1,350 | -392 | -2,726 | |||||||||||||||
Maoming Hengda | -57 | -761 | 31 | -828 | Baotou Steel | 229 | 69 | 491 | 562 | |||||||||||||||||||
Baotou Steel Pipe Joint Venture | 160 | 120 | 439 | 78 | General Steel (China) & Tianwu Joint Venture | 28 | 3,888 | -3,845 | 2,589 | |||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | 6 | 5,462 | 4,163 | 172 | Total gross profit (loss) | -55,938 | 32,119 | -90,054 | 33,176 | |||||||||||||||||||
Total profit | 8,231 | -13,596 | $ | 34,033 | $ | 13,726 | Interdivision gross profit | - | - | 1,840 | -1,761 | |||||||||||||||||
Interdivision gross profit | - | - | 17 | -137 | Consolidated gross profit (loss) | $ | -55,938 | $ | 32,119 | $ | -88,214 | $ | 31,415 | |||||||||||||||
Consolidated profit | $ | 8,231 | $ | -13,596 | $ | 34,050 | $ | 13,589 | ||||||||||||||||||||
Income (loss) from | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||||||||
Income (loss) from operations: | 2013 | 2012 | 2011 | 2010 | operations: | |||||||||||||||||||||||
Longmen Joint Venture | $ | 30,306 | $ | -42,611 | $ | 1,773 | $ | 6,734 | Longmen Joint Venture | $ | 45,161 | $ | -68,081 | $ | -175,104 | $ | -8,073 | |||||||||||
Maoming Hengda | -719 | -1,062 | -477 | -1,075 | Maoming Hengda | -2,811 | -19,789 | -2,568 | -5,782 | |||||||||||||||||||
Baotou Steel Pipe Joint Venture | 20 | 630 | 200 | -188 | Baotou Steel | -407 | -7 | -2,516 | -862 | |||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | -695 | 2,399 | 3,766 | -72 | General Steel (China) & Tianwu Joint Venture | -2,971 | -2,539 | -10,902 | 1,133 | |||||||||||||||||||
Total income (loss) from operations | 28,912 | -40,644 | $ | 5,262 | $ | 5,399 | Total income (loss) from operations | 38,972 | -90,416 | -191,090 | -13,584 | |||||||||||||||||
Interdivision income from operations | - | - | 17 | - | Interdivision income (loss) from operations | - | - | 1,840 | -1,762 | |||||||||||||||||||
Reconciling item (1) | -1,177 | -1,350 | -945 | -1,370 | Reconciling item (1) | -4,567 | -5,041 | -4,838 | -5,816 | |||||||||||||||||||
Consolidated income (loss) from operations | $ | 27,735 | $ | -41,994 | $ | 4,334 | $ | 4,029 | Consolidated income (loss) from operations | $ | 34,405 | $ | -95,457 | $ | -194,088 | $ | -21,162 | |||||||||||
Net loss attributable to General Steel Holdings, Inc: | 2013 | 2012 | 2011 | 2010 | Net income (loss) | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||
Longmen Joint Venture | $ | 8,284 | $ | -39,494 | $ | -14,766 | $ | -1,351 | attributable to General | |||||||||||||||||||
Maoming Hengda | (694 | -1,073 | 2,573 | -1,076 | Steel Holdings, Inc.: | |||||||||||||||||||||||
Baotou Steel Pipe Joint Venture | 16 | 403 | 163 | -128 | Longmen Joint Venture | $ | -16,457 | $ | -114,936 | $ | -161,897 | $ | -32,668 | |||||||||||||||
General Steel (China) & Tianwu Joint Venture | -2,689 | -26 | 2,437 | -424 | Maoming Hengda | -2,721 | -18,968 | 3,763 | -5,450 | |||||||||||||||||||
Total net loss attributable to General Steel Holdings, Inc. | 4,917 | -40,190 | $ | -9,593 | $ | -2,979 | Baotou Steel | 70 | -531 | -1,861 | -744 | |||||||||||||||||
Interdivision net income | - | - | -3,434 | - | General Steel (China) & Tianwu Joint Venture | -10,485 | -13,128 | -17,120 | -330 | |||||||||||||||||||
Reconciling item (1) | -1,116 | -1,408 | -803 | -805 | Total net income (loss) attributable to General Steel Holdings, Inc. | -29,593 | -147,563 | -177,115 | -39,192 | |||||||||||||||||||
Consolidated net loss attributable to General Steel Holdings, Inc. | $ | 3,801 | $ | -41,598 | $ | -13,830 | $ | -3,784 | Interdivision net income | - | - | -1,501 | -1,762 | |||||||||||||||
Reconciling item (1) | -3,423 | -5,134 | 1,429 | 10,948 | ||||||||||||||||||||||||
Depreciation and amortization: | 2013 | 2012 | 2011 | 2010 | Consolidated net loss attributable to General Steel Holdings, Inc. | $ | -33,016 | $ | -152,697 | $ | -177,187 | $ | -30,006 | |||||||||||||||
Longmen Joint Venture | $ | 21,014 | $ | 19,915 | $ | 16,979 | $ | 10,086 | ||||||||||||||||||||
Maoming Hengda | 307 | 451 | 531 | 928 | Depreciation, amortization | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||
Baotou Steel | 62 | 52 | 60 | 74 | and depletion: | |||||||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | 505 | 790 | 793 | 753 | Longmen Joint Venture | $ | 85,603 | $ | 79,048 | $ | 54,755 | $ | 34,131 | |||||||||||||||
Consolidated depreciation and amortization | $ | 21,888 | $ | 21,208 | $ | 18,363 | $ | 11,841 | Maoming Hengda | 1,237 | 1,984 | 205 | 3,411 | |||||||||||||||
Baotou Steel | 246 | 185 | 246 | 281 | ||||||||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | 1,962 | 2,714 | 3,125 | 3,330 | ||||||||||||||||||||||||
Finance/interest expenses: | 2013 | 2012 | 2011 | 2010 | Consolidated depreciation, amortization and depletion | $ | 89,048 | $ | 83,931 | $ | 58,331 | $ | 41,153 | |||||||||||||||
Longmen Joint Venture | $ | 20,591 | $ | 28,378 | $ | 25,925 | $ | 10,957 | ||||||||||||||||||||
Maoming Hengda | 1 | 35 | 217 | 85 | Finance/interest expenses: | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||
Baotou Steel | - | 127 | - | -7 | Longmen Joint Venture | $ | 83,062 | $ | 142,086 | $ | 90,325 | $ | 49,180 | |||||||||||||||
General Steel (China) & Tianwu Joint Venture | 2,249 | 2,467 | 3,539 | 682 | Maoming Hengda | 1 | 13 | 262 | 109 | |||||||||||||||||||
Less: interdivision expenses | - | - | -6 | - | Baotou Steel | - | 485 | -10 | 14 | |||||||||||||||||||
Reconciling item (1) | 1 | -3 | -1 | -1,527 | General Steel (China) & Tianwu Joint Venture | 8,812 | 10,861 | 6,655 | 1,955 | |||||||||||||||||||
Consolidated interest expenses | $ | 22,842 | $ | 31,004 | $ | 29,674 | $ | 10,190 | Interdivision interest expenses | - | - | -709 | - | |||||||||||||||
Reconciling item (1) | 3 | 298 | 4,379 | 25 | ||||||||||||||||||||||||
Capital expenditures: | 2013 | 2012 | 2011 | 2010 | Consolidated interest expenses | $ | 91,878 | $ | 153,743 | $ | 100,902 | $ | 51,283 | |||||||||||||||
Longmen Joint Venture | $ | 16,455 | $ | 3,259 | $ | 19,889 | $ | 19,605 | ||||||||||||||||||||
Maoming Hengda | - | 23 | 3,505 | 8,045 | Capital expenditures: | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||
Baotou Steel | - | 1 | 3 | 12 | Longmen Joint Venture | $ | 43,341 | $ | 27,837 | $ | 108,885 | $ | 80,718 | |||||||||||||||
General Steel (China) & Tianwu Joint Venture | - | 15 | - | 4 | Maoming Hengda | 2 | 73 | 1,978 | 8,735 | |||||||||||||||||||
Reconciling item (1) | - | - | - | - | Baotou Steel | 8 | 11 | 32 | 44 | |||||||||||||||||||
Consolidated capital expenditures | $ | 16,455 | $ | 3,298 | $ | 23,397 | $ | 27,666 | General Steel (China) & Tianwu Joint Venture | 4 | 55 | 44 | 419 | |||||||||||||||
Consolidated capital expenditures | $ | 43,355 | $ | 27,976 | $ | 110,939 | $ | 89,916 | ||||||||||||||||||||
The following represents results of division operations for nine months ended September 30, 2013, 2012, 2011 and 2010: | ||||||||||||||||||||||||||||
Total Assets as of: | December 31, | December 31, | December 31, | December 31, | ||||||||||||||||||||||||
(In thousands) | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||||||||
Sales: | 2013 | 2012 | 2011 | 2010 | Longmen Joint Venture | $ | 2,573,212 | $ | 2,513,206 | $ | 2, 937,271 | $ | 1,694,895 | |||||||||||||||
Longmen Joint Venture | $ | 1,903,933 | $ | 2,126,556 | $ | 2,752,918 | $ | 1,389,215 | Maoming Hengda | 29,211 | 29,687 | 48,350 | 47,839 | |||||||||||||||
Maoming Hengda | 3,124 | 4,003 | 6,399 | 7,839 | Baotou Steel Pipe Joint Venture | 4,448 | 5,186 | 8,093 | 31,852 | |||||||||||||||||||
Baotou Steel Pipe Joint Venture | 3,902 | 3,923 | 6,865 | 9,587 | General Steel (China) & Tianwu Joint Venture | 121,883 | 152,965 | 146,150 | 194,966 | |||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | 58,416 | 141,668 | 189,370 | 35,048 | Interdivision assets | -34,213 | -57,436 | -88,326 | -173,076 | |||||||||||||||||||
Total sales | 1,969,375 | 2,276,150 | $ | 2,955,552 | $ | 1,441,689 | Reconciling item (2) | 5,817 | 7,074 | 2,583 | 2,904 | |||||||||||||||||
Interdivision revenue | -54,338 | -136,001 | -185,196 | -26,710 | Total Assets | $ | 2,700,358 | $ | 2,650,682 | $ | 3,054,121 | $ | 1,799,380 | |||||||||||||||
Consolidated sales | $ | 1,915,037 | $ | 2,140,149 | $ | 2,770,356 | $ | 1,414,979 | ||||||||||||||||||||
-1 | Reconciling item represents the unallocated income or expenses of the Company, arising from General Steel Investment Co., Ltd, Yangpu Shengtong Investment Co., Ltd and Qiu Steel for the years ended December 31, 2013, 2012, 2011 and 2010. | |||||||||||||||||||||||||||
Gross profit | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||||||||
Longmen Joint Venture | $ | -23,704 | $ | 12,628 | $ | 56,215 | $ | 28,450 | -2 | Reconciling item represents assets held at General Steel Holdings, Inc., General Steel Investment Co., Ltd, Yangpu Shengtong Investment Co., Ltd and Qiu Steel as of December 31, 2013, 2012, 2011 and 2010. | ||||||||||||||||||
Maoming Hengda | 188 | -1,174 | -886 | -2,347 | ||||||||||||||||||||||||
Baotou Steel Pipe Joint Venture | 249 | 193 | 491 | 535 | ||||||||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | 29 | 8,431 | 4,783 | 192 | ||||||||||||||||||||||||
Total profit | -23,238 | 20,078 | $ | 60,603 | $ | 26,830 | ||||||||||||||||||||||
Interdivision gross profit | - | - | 1,836 | -131 | ||||||||||||||||||||||||
Consolidated profit | $ | -23,238 | $ | 20,078 | $ | 62,439 | $ | 26,699 | ||||||||||||||||||||
Income (loss) from operations: | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||||||||
Longmen Joint Venture | $ | 20,558 | $ | -56,932 | $ | -5,599 | $ | 1,905 | ||||||||||||||||||||
Maoming Hengda | -1,741 | -2,498 | -2,537 | -4,947 | ||||||||||||||||||||||||
Baotou Steel Pipe Joint Venture | -285 | 224 | -285 | -462 | ||||||||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | -2,293 | 4,878 | -1,867 | -546 | ||||||||||||||||||||||||
Total income (loss) from operations | 16,239 | -54,328 | $ | -10,288 | $ | -4,050 | ||||||||||||||||||||||
Interdivision income from operations | - | - | 1,836 | - | ||||||||||||||||||||||||
Reconciling item (1) | -3,504 | -4,003 | -3,695 | -4,624 | ||||||||||||||||||||||||
Consolidated income (loss) from operations | $ | 12,735 | $ | -58,331 | $ | -12,147 | $ | -8,674 | ||||||||||||||||||||
Net loss attributable to General Steel Holdings, Inc: | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||||||||
Longmen Joint Venture | $ | -18,335 | $ | -92,974 | $ | -44,654 | $ | -15,913 | ||||||||||||||||||||
Maoming Hengda | -1,681 | -2,393 | 3,770 | -4,975 | ||||||||||||||||||||||||
Baotou Steel Pipe Joint Venture | -227 | -263 | -77 | -304 | ||||||||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | -9,373 | -3,079 | -5,876 | -1,038 | ||||||||||||||||||||||||
Total net loss attributable to General Steel Holdings, Inc. | -29,616 | -98,709 | $ | -46,837 | $ | -22,230 | ||||||||||||||||||||||
Interdivision net income | - | - | -1,461 | - | ||||||||||||||||||||||||
Reconciling item (1) | -3,298 | -4,050 | 2,636 | 10,830 | ||||||||||||||||||||||||
Consolidated net loss attributable to General Steel Holdings, Inc. | $ | -32,914 | $ | -102,759 | $ | -45,662 | $ | -11,400 | ||||||||||||||||||||
Depreciation and amortization: | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||||||||
Longmen Joint Venture | $ | 62,295 | $ | 58,573 | $ | 35,983 | $ | 25,937 | ||||||||||||||||||||
Maoming Hengda | 933 | 1,447 | 1,879 | 2,756 | ||||||||||||||||||||||||
Baotou Steel | 185 | 134 | 184 | 220 | ||||||||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | 1,542 | 2,384 | 2,339 | 2,262 | ||||||||||||||||||||||||
Consolidated depreciation and amortization | $ | 64,955 | $ | 62,538 | $ | 40,385 | $ | 31,175 | ||||||||||||||||||||
Finance/interest expenses: | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||||||||
Longmen Joint Venture | $ | 60,984 | $ | 112,822 | $ | 58,046 | $ | 37,506 | ||||||||||||||||||||
Maoming Hengda | 1 | 47 | 218 | 109 | ||||||||||||||||||||||||
Baotou Steel | - | 381 | - | 13 | ||||||||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | 7,927 | 8,819 | 6,016 | 1,501 | ||||||||||||||||||||||||
Less: interdivision expenses | - | - | -707 | - | ||||||||||||||||||||||||
Reconciling item (1) | 3 | -1 | 1 | -1,512 | ||||||||||||||||||||||||
Consolidated interest expenses | $ | 68,915 | $ | 122,068 | $ | 63,574 | $ | 37,617 | ||||||||||||||||||||
Capital expenditures: | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||||||||
Longmen Joint Venture | $ | 60,461 | $ | 19,604 | $ | 50,661 | $ | 48,583 | ||||||||||||||||||||
Maoming Hengda | 2 | 38 | 3,790 | 8,281 | ||||||||||||||||||||||||
Baotou Steel | 8 | 6 | 32 | 36 | ||||||||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | 3 | 18 | 8 | 6 | ||||||||||||||||||||||||
Reconciling item (1) | - | - | 3 | - | ||||||||||||||||||||||||
Consolidated capital expenditures | $ | 60,474 | $ | 19,666 | $ | 54,494 | $ | 56,906 | ||||||||||||||||||||
The following represents results of division operations for three months ended June 30, 2013, 2012, 2011 and 2010: | ||||||||||||||||||||||||||||
Sales: | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||||||||
Longmen Joint Venture | $ | 650,741 | $ | 774,306 | $ | 1,056,675 | $ | 499,361 | ||||||||||||||||||||
Maoming Hengda | 1,349 | 889 | 1,917 | 2,006 | ||||||||||||||||||||||||
Baotou Steel Pipe Joint Venture | 972 | 2,424 | 2,815 | 5,142 | ||||||||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | 5,454 | 7,135 | 87,277 | 5,909 | ||||||||||||||||||||||||
Total sales | 658,516 | 784,754 | 1,148,684 | 512,418 | ||||||||||||||||||||||||
Interdivision revenue | -4,865 | -4,071 | -86,953 | -10,739 | ||||||||||||||||||||||||
Consolidated sales | $ | 653,651 | $ | 780,683 | $ | 1,061,731 | $ | 501,679 | ||||||||||||||||||||
Gross profit | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||||||||
Longmen Joint Venture | $ | -36,193 | $ | 25,770 | $ | 22,300 | $ | 8,120 | ||||||||||||||||||||
Maoming Hengda | 473 | -330 | -495 | -1,202 | ||||||||||||||||||||||||
Baotou Steel Pipe Joint Venture | 167 | 54 | 179 | 425 | ||||||||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | 17 | 2,550 | 1,115 | 15 | ||||||||||||||||||||||||
Total gross profit | -35,536 | 28,044 | 23,099 | 7,358 | ||||||||||||||||||||||||
Interdivision profit | - | - | 241 | 6 | ||||||||||||||||||||||||
Consolidated gross profit | $ | -35,536 | $ | 28,044 | $ | 23,340 | $ | 7,364 | ||||||||||||||||||||
Income (loss) from operations: | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||||||||
Longmen Joint Venture | $ | -44,685 | $ | 2,903 | $ | 138 | $ | -1,046 | ||||||||||||||||||||
Maoming Hengda | -225 | -734 | -1,168 | -3,275 | ||||||||||||||||||||||||
Baotou Steel Pipe Joint Venture | 55 | -240 | -64 | 43 | ||||||||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | -790 | 2,480 | -4,636 | -236 | ||||||||||||||||||||||||
Total loss from operations | -45,645 | 4,409 | -5,730 | -4,514 | ||||||||||||||||||||||||
Interdivision income from operations | - | - | 241 | - | ||||||||||||||||||||||||
Reconciling item (1) | -1,245 | -2,117 | -1,540 | -1,799 | ||||||||||||||||||||||||
Consolidated loss from operations | $ | -46,890 | $ | 2,292 | $ | -7,029 | $ | -6,313 | ||||||||||||||||||||
Net loss attributable to General Steel Holdings, Inc.: | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||||||||
Longmen Joint Venture | $ | -34,944 | $ | -23,132 | $ | -19,707 | $ | -7,472 | ||||||||||||||||||||
Maoming Hengda | -216 | -784 | 2,292 | -3,300 | ||||||||||||||||||||||||
Baotou Steel Pipe Joint Venture | 46 | -292 | - | 25 | ||||||||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | -3,528 | -75 | -6,991 | -333 | ||||||||||||||||||||||||
Total net loss attributable to General Steel Holdings, Inc. | -38,642 | -24,283 | -24,406 | -11,080 | ||||||||||||||||||||||||
Interdivision net income | - | - | 398 | - | ||||||||||||||||||||||||
Reconciling item (1) | -1,176 | -2,094 | 1,093 | 9,076 | ||||||||||||||||||||||||
Consolidated net loss attributable to General Steel Holdings, Inc. | $ | -39,818 | $ | -26,377 | $ | -22,915 | $ | -2,004 | ||||||||||||||||||||
Depreciation and amortization: | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||||||||
Longmen Joint Venture | $ | 20,850 | $ | 19,412 | $ | 11,501 | $ | 8,021 | ||||||||||||||||||||
Maoming Hengda | 315 | 492 | 758 | 899 | ||||||||||||||||||||||||
Baotou Steel | 26 | 71 | 64 | 74 | ||||||||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | 518 | 795 | 777 | 754 | ||||||||||||||||||||||||
Consolidated depreciation and amortization | $ | 21,709 | $ | 20,770 | $ | 13,100 | $ | 9,748 | ||||||||||||||||||||
Finance / interest expenses: | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||||||||
Longmen Joint Venture | $ | 18,243 | $ | 44,879 | $ | 18,391 | $ | 15,932 | ||||||||||||||||||||
Maoming Hengda | - | - | 1 | 24 | ||||||||||||||||||||||||
Baotou Steel | - | 126 | - | 20 | ||||||||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | 2,972 | 3,321 | 2,088 | 473 | ||||||||||||||||||||||||
Less: interdivision expense | - | - | -701 | - | ||||||||||||||||||||||||
Reconciling item (1) | 1 | 2 | 2 | 15 | ||||||||||||||||||||||||
Consolidated interest expenses | $ | 21,216 | $ | 48,328 | $ | 19,781 | $ | 16,464 | ||||||||||||||||||||
Capital expenditures: | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||||||||
Longmen Joint Venture | $ | 27,922 | $ | 7,903 | $ | 20,110 | $ | 22,274 | ||||||||||||||||||||
Maoming Hengda | - | 15 | 69 | 130 | ||||||||||||||||||||||||
Baotou Steel | 1 | - | 6 | 19 | ||||||||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | 2 | 2 | - | - | ||||||||||||||||||||||||
Reconciling item (1) | - | - | - | - | ||||||||||||||||||||||||
Consolidated capital expenditures | $ | 27,925 | $ | 7,920 | $ | 20,185 | $ | 22,423 | ||||||||||||||||||||
The following represents results of division operations for six months ended June 30, 2013, 2012, 2011 and 2010: | ||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||
Sales: | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||||||||
Longmen Joint Venture | $ | 1,297,489 | $ | 1,417,582 | $ | 1,765,980 | $ | 934,187 | ||||||||||||||||||||
Maoming Hengda | 2,872 | 2,869 | 2,461 | 5,880 | ||||||||||||||||||||||||
Baotou Steel Pipe Joint Venture | 981 | 2,601 | 3,429 | 6,320 | ||||||||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | 54,180 | 12,327 | 97,643 | 19,054 | ||||||||||||||||||||||||
Total sales | 1,355,522 | 1,435,379 | 1,869,513 | 965,441 | ||||||||||||||||||||||||
Interdivision revenue | -50,580 | -6,655 | -97,318 | -10,739 | ||||||||||||||||||||||||
Consolidated sales | $ | 1,304,942 | $ | 1,428,724 | $ | 1,772,195 | $ | 954,702 | ||||||||||||||||||||
Gross profit | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||||||||
Longmen Joint Venture | $ | -31,826 | $ | 31,045 | $ | 26,818 | $ | 14,146 | ||||||||||||||||||||
Maoming Hengda | 245 | -413 | -917 | -1,519 | ||||||||||||||||||||||||
Baotou Steel Pipe Joint Venture | 89 | 73 | 52 | 457 | ||||||||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | 23 | 2,969 | 620 | 20 | ||||||||||||||||||||||||
Total gross profit | -31,469 | 33,674 | 26,573 | 13,104 | ||||||||||||||||||||||||
Interdivision profit | - | - | 1,816 | 6 | ||||||||||||||||||||||||
Consolidated gross profit | $ | -31,469 | $ | 33,674 | $ | 28,389 | $ | 13,110 | ||||||||||||||||||||
Income (loss) from operations: | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||||||||
Longmen Joint Venture | $ | -9,748 | $ | -14,321 | $ | -7,370 | $ | -4,828 | ||||||||||||||||||||
Maoming Hengda | -1,022 | -1,436 | -2,060 | -3,872 | ||||||||||||||||||||||||
Baotou Steel Pipe Joint Venture | -305 | -406 | -485 | -274 | ||||||||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | -1,598 | 2,479 | -5,633 | -475 | ||||||||||||||||||||||||
Total loss from operations | -12,673 | -13,684 | -15,548 | $ | -9,449 | |||||||||||||||||||||||
Interdivision income from operations | - | - | 1,816 | - | ||||||||||||||||||||||||
Reconciling item (1) | -2,326 | -2,653 | -2,749 | -3,254 | ||||||||||||||||||||||||
Consolidated loss from operations | $ | -14,999 | $ | -16,337 | $ | -16,481 | $ | -12,703 | ||||||||||||||||||||
Net loss attributable to General Steel Holdings, Inc.: | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||||||||
Longmen Joint Venture | $ | -26,619 | $ | -53,480 | $ | -29,885 | $ | -14,562 | ||||||||||||||||||||
Maoming Hengda | -987 | -1,320 | 1,197 | -3,899 | ||||||||||||||||||||||||
Baotou Steel Pipe Joint Venture | -243 | -666 | -240 | -176 | ||||||||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | -6,684 | -3,053 | -8,313 | -614 | ||||||||||||||||||||||||
Total net loss attributable to General Steel Holdings, Inc. | -34,533 | -58,519 | -37,241 | -19,251 | ||||||||||||||||||||||||
Interdivision net income | - | - | 1,973 | - | ||||||||||||||||||||||||
Reconciling item (1) | -2,182 | -2,642 | 3,436 | 11,635 | ||||||||||||||||||||||||
Consolidated net loss attributable to General Steel Holdings, Inc. | $ | -36,715 | $ | -61,161 | $ | -31,832 | $ | -7,616 | ||||||||||||||||||||
Depreciation and amortization: | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||||||||
Longmen Joint Venture | $ | 41,281 | $ | 38,658 | $ | 19,004 | $ | 15,851 | ||||||||||||||||||||
Maoming Hengda | 626 | 996 | 1,348 | 1,828 | ||||||||||||||||||||||||
Baotou Steel | 123 | 82 | 124 | 146 | ||||||||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | 1,037 | 1,593 | 1,546 | 1,509 | ||||||||||||||||||||||||
Consolidated depreciation and amortization | $ | 43,067 | $ | 41,329 | $ | 22,022 | $ | 19,334 | ||||||||||||||||||||
Finance / interest expenses: | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||||||||
Longmen Joint Venture | $ | 40,393 | $ | 84,444 | $ | 32,121 | $ | 26,549 | ||||||||||||||||||||
Maoming Hengda | - | 12 | 1 | 24 | ||||||||||||||||||||||||
Baotou Steel | - | 254 | - | 20 | ||||||||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | 5,678 | 6,352 | 2,477 | 819 | ||||||||||||||||||||||||
Less: interdivision expense | - | - | -701 | - | ||||||||||||||||||||||||
Reconciling item (1) | 2 | 2 | 2 | 15 | ||||||||||||||||||||||||
Consolidated interest expenses | $ | 46,073 | $ | 91,064 | $ | 33,900 | $ | 27,427 | ||||||||||||||||||||
Capital expenditures: | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||||||||
Longmen Joint Venture | $ | 44,006 | $ | 16,345 | $ | 30,772 | $ | 28,979 | ||||||||||||||||||||
Maoming Hengda | 2 | 15 | 285 | 235 | ||||||||||||||||||||||||
Baotou Steel | 8 | 5 | 29 | 24 | ||||||||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | 3 | 3 | 8 | 2 | ||||||||||||||||||||||||
Reconciling item (1) | - | - | 3 | - | ||||||||||||||||||||||||
Consolidated capital expenditures | $ | 44,019 | $ | 16,368 | $ | 31,097 | $ | 29,240 | ||||||||||||||||||||
The following represents results of division operations for three months ended March 31, 2013, 2012 and 2011: | ||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||
Sales: | 2013 | 2012 | 2011 | |||||||||||||||||||||||||
Longmen Joint Venture | $ | 646,748 | $ | 643,276 | $ | 709,305 | ||||||||||||||||||||||
Maoming Hengda | 1,523 | 1,980 | 544 | |||||||||||||||||||||||||
Baotou Steel Pipe Joint Venture | 9 | 177 | 614 | |||||||||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | 48,726 | 5,192 | 10,366 | |||||||||||||||||||||||||
Total sales | 697,006 | 650,625 | 720,829 | |||||||||||||||||||||||||
Interdivision sales | -45,715 | -2,584 | -10,365 | |||||||||||||||||||||||||
Consolidated sales | $ | 651,291 | $ | 648,041 | $ | 710,464 | ||||||||||||||||||||||
Gross profit: | 2013 | 2012 | 2011 | |||||||||||||||||||||||||
Longmen Joint Venture | $ | 4,367 | $ | 5,275 | $ | 4,518 | ||||||||||||||||||||||
Maoming Hengda | -228 | -83 | -422 | |||||||||||||||||||||||||
Baotou Steel | -78 | 19 | -127 | |||||||||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | 6 | 419 | -494 | |||||||||||||||||||||||||
Total gross profit | 4,067 | 5,630 | 3,474 | |||||||||||||||||||||||||
Interdivision gross profit | - | - | 1,575 | |||||||||||||||||||||||||
Consolidated gross profit | $ | 4,067 | $ | 5,630 | $ | 5,049 | ||||||||||||||||||||||
Income (loss) from operations: | 2013 | 2012 | 2011 | |||||||||||||||||||||||||
Longmen Joint Venture | $ | 34,937 | $ | -17,224 | $ | -7,508 | ||||||||||||||||||||||
Maoming Hengda | -797 | -702 | -892 | |||||||||||||||||||||||||
Baotou Steel | -361 | -166 | -421 | |||||||||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | -808 | -1 | -997 | |||||||||||||||||||||||||
Total loss from operations | 32,971 | -18,093 | -9,818 | |||||||||||||||||||||||||
Interdivision income (loss) from operations | - | - | 1,575 | |||||||||||||||||||||||||
Reconciling item (1) | -1,080 | -536 | -1,209 | |||||||||||||||||||||||||
Consolidated income (loss) from operations | $ | 31,891 | $ | -18,629 | $ | -9,452 | ||||||||||||||||||||||
Net income (loss) attributable to General Steel Holdings, Inc.: | 2013 | 2012 | 2011 | |||||||||||||||||||||||||
Longmen Joint Venture | $ | 8,325 | $ | -30,348 | $ | -10,178 | ||||||||||||||||||||||
Maoming Hengda | -771 | -536 | -1,095 | |||||||||||||||||||||||||
Baotou Steel | -289 | -374 | -240 | |||||||||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | -3,156 | -2,978 | -1,322 | |||||||||||||||||||||||||
Total net loss attributable to General Steel Holdings, Inc. | 4,109 | -34,236 | -12,835 | |||||||||||||||||||||||||
Interdivision net income | - | - | 1,575 | |||||||||||||||||||||||||
Reconciling item (1) | -1,006 | -548 | 2,343 | |||||||||||||||||||||||||
Consolidated net income (loss) attributable to General Steel Holdings, Inc. | $ | 3,103 | $ | -34,784 | $ | -8,917 | ||||||||||||||||||||||
Depreciation, amortization and depletion: | 2013 | 2012 | 2011 | |||||||||||||||||||||||||
Longmen Joint Venture | $ | 20,431 | $ | 19,246 | $ | 7,503 | ||||||||||||||||||||||
Maoming Hengda | 311 | 504 | 590 | |||||||||||||||||||||||||
Baotou Steel | 97 | 11 | 60 | |||||||||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | 519 | 798 | 769 | |||||||||||||||||||||||||
Consolidated depreciation, amortization and depletion | $ | 21,358 | $ | 20,559 | $ | 8,922 | ||||||||||||||||||||||
Finance/interest expenses: | 2013 | 2012 | 2011 | |||||||||||||||||||||||||
Longmen Joint Venture | $ | 22,150 | $ | 39,565 | $ | 13,730 | ||||||||||||||||||||||
Maoming Hengda | - | 12 | - | |||||||||||||||||||||||||
Baotou Steel | - | 128 | - | |||||||||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | 2,706 | 3,031 | 389 | |||||||||||||||||||||||||
Reconciling item (1) | 1 | - | - | |||||||||||||||||||||||||
Consolidated interest expenses | $ | 24,857 | $ | 42,736 | $ | 14,119 | ||||||||||||||||||||||
Capital expenditures: | 2013 | 2012 | 2011 | |||||||||||||||||||||||||
Longmen Joint Venture | $ | 16,084 | $ | 10,723 | $ | 10,662 | ||||||||||||||||||||||
Maoming Hengda | 2 | - | 216 | |||||||||||||||||||||||||
Baotou Steel | 7 | 5 | 23 | |||||||||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | 1 | 1 | 8 | |||||||||||||||||||||||||
Reconciling item (1) | - | - | 3 | |||||||||||||||||||||||||
Consolidated capital expenditures | $ | 16,094 | $ | 10,729 | $ | 10,912 | ||||||||||||||||||||||
The following represents total assets by division operations for as of September 30, 2013, June 30, 2013, March 31, 2013, December 31, 2012, September 30, 2012, June 30, 2012, March 31, 2012, December 31, 2011, September 30, 2011, June 30, 2011 and December 31, 2010: | ||||||||||||||||||||||||||||
Total Assets as of: | September 30, 2013 | June 30, 2013 | March 31, 2013 | December 31, 2012 | ||||||||||||||||||||||||
Longmen Joint Venture | $ | 2,537,952 | $ | 2,371,719 | $ | 2,369,631 | $ | 2,513,206 | ||||||||||||||||||||
Maoming Hengda | 29,340 | 29,459 | 29,762 | 29,687 | ||||||||||||||||||||||||
Baotou Steel Pipe Joint Venture | 5,116 | 4,855 | 4,318 | 5,186 | ||||||||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | 178,844 | 88,192 | 71,308 | 152,965 | ||||||||||||||||||||||||
Interdivision assets | -84,880 | -46,877 | -43,797 | -57,436 | ||||||||||||||||||||||||
Reconciling item (2) | 5,654 | 7,266 | 9,376 | 7,074 | ||||||||||||||||||||||||
Total Assets | $ | 2,672,026 | $ | 2,454,614 | $ | 2,440,598 | $ | 2,650,682 | ||||||||||||||||||||
Total Assets as of: | September 30, 2012 | June 30, 2012 | March 31, 2012 | December 31, 2011 | ||||||||||||||||||||||||
Longmen Joint Venture | $ | 2,434,666 | $ | 2,625,990 | $ | 3,083,013 | $ | 2,937,271 | ||||||||||||||||||||
Maoming Hengda | 46,008 | 46,373 | 47,787 | 48,350 | ||||||||||||||||||||||||
Baotou Steel Pipe Joint Venture | 7,658 | 6,230 | 8,044 | 8,093 | ||||||||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | 161,640 | 163,032 | 197,443 | 146,150 | ||||||||||||||||||||||||
Interdivision assets | -52,640 | -88,292 | -78,892 | -88,326 | ||||||||||||||||||||||||
Reconciling item (2) | 11,232 | 7,785 | 9,430 | 2,583 | ||||||||||||||||||||||||
Total Assets | $ | 2,608,564 | $ | 2,761,118 | $ | 3,266,825 | $ | 3,054,121 | ||||||||||||||||||||
Total Assets as of: | September 30, 2011 | June 30, 2011 | December 31, 2010 | |||||||||||||||||||||||||
Longmen Joint Venture | $ | 2,724,198 | $ | 2,398,501 | $ | 1,694,895 | ||||||||||||||||||||||
Maoming Hengda | 51,708 | 52,055 | 47,839 | |||||||||||||||||||||||||
Baotou Steel Pipe Joint Venture | 9,512 | 9,190 | 31,852 | |||||||||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | 273,186 | 217,307 | 194,966 | |||||||||||||||||||||||||
Less: interdivision assets | -173,330 | -147,058 | -173,076 | |||||||||||||||||||||||||
Reconciling item (2) | 579 | 1,027 | 2,904 | |||||||||||||||||||||||||
Consolidated Assets | $ | 2,885,853 | $ | 2, 531,022 | $ | 1,799,380 | ||||||||||||||||||||||
-1 | Reconciling item represents the unallocated income or expenses of the Company, arising from General Steel Investment Co., Ltd, Yangpu Shengtong Investment Co., Ltd and Qiu Steel for the three and nine months ended September 30, 2013 and 2012. | |||||||||||||||||||||||||||
-2 | Reconciling item represents assets held at General Steel Holdings, Inc., General Steel Investment Co., Ltd, Yangpu Shengtong Investment Co., Ltd and Qiu Steel as of September 30, 2013, June 30, 2013, March 31, 2013, December 31, 2012, September 30, 2012, June 30, 2012, March 31, 2012, December 31, 2011, September 30, 2011, June 30, 2011 and December 31, 2010. | |||||||||||||||||||||||||||
Subsequent_events
Subsequent events | 12 Months Ended |
Dec. 31, 2013 | |
Subsequent Events [Abstract] | ' |
Subsequent Events [Text Block] | ' |
Note 27 – Subsequent events | |
On February 3, 2014, the Company granted 80,000 shares of common stock at $1.01 per share as service fees for investor relations consulting services under two service agreements dated January 14, 2014. The shares were valued at the quoted market price on the grant date. | |
Schedule_Of_Condensed_Financia
Schedule Of Condensed Financial Information of Parent Company | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Condensed Financial Information Of Parent Company Only Disclosure [Abstract] | ' | |||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | ' | |||||||||||||
SCHEDULE 1 - CONDENSED PARENT COMPANY BALANCE SHEETS | ||||||||||||||
AS OF DECEMBER 31, 2013, 2012, 2011 AND 2010 | ||||||||||||||
(In thousands) | ||||||||||||||
2013 | 2012 | 2011 | 2010 | |||||||||||
ASSETS | ||||||||||||||
CURRENT ASSETS: | ||||||||||||||
Cash | $ | 11 | $ | 88 | $ | 48 | $ | 47 | ||||||
Restricted cash | - | - | 4 | 1,130 | ||||||||||
Other receivables | 39 | 19 | 1 | 3 | ||||||||||
Prepaid expense | 301 | 45 | 60 | 205 | ||||||||||
TOTAL CURRENT ASSETS | 351 | 152 | 113 | 1,385 | ||||||||||
OTHER ASSETS: | ||||||||||||||
Intercompany receivable | 82,987 | 83,320 | 85,106 | 84,941 | ||||||||||
TOTAL OTHER ASSETS | 82,987 | 83,320 | 85,106 | 84,941 | ||||||||||
TOTAL ASSETS | $ | 83,338 | $ | 83,472 | $ | 85,219 | $ | 86,326 | ||||||
LIABILITIES AND DEFICIENCY | ||||||||||||||
CURRENT LIABILITIES: | ||||||||||||||
Other payables and accrued liabilities | $ | 6 | $ | 7 | $ | 7 | $ | 8 | ||||||
TOTAL CURRENT LIABILITIES | 6 | 7 | 7 | 8 | ||||||||||
OTHER LIABILITIES: | ||||||||||||||
Loss in excess of investment in subsidiaries | 388,418 | 347,411 | 192,493 | 11,192 | ||||||||||
Derivative liabilities - warrants | - | - | 10 | 5,573 | ||||||||||
TOTAL OTHER LIABILITIES | 388,418 | 347,411 | 192,503 | 16,765 | ||||||||||
TOTAL LIABILITIES | 388,424 | 347,418 | 192,510 | 16,773 | ||||||||||
COMMITMENTS AND CONTINGENCIES | ||||||||||||||
DEFICIENCY: | ||||||||||||||
Preferred stock, $0.001 par value, 50,000,000 shares authorized, 3,092,899 shares issued and outstanding as of December 31, 2013, 2012, 2011 and 2010 | 3 | 3 | 3 | 3 | ||||||||||
Common stock, $0.001 par value, 200,000,000 shares authorized, 58,234,688, 57,269,838, 56,601,988 and 54,678,083 shares issued, 55,762,382, 54,797,532, 55,511,010 and 54,522,973 shares outstanding as of December 31, 2013, 2012, 2011 and 2010, respectively | 58 | 57 | 56 | 55 | ||||||||||
Treasury stock, at cost, 2,472,306, 2,472,306, 1,090,978 and 316,760 shares as of December 31, 2013, 2012, 2011 and 2010, respectively | -4,199 | -4,199 | -2,795 | -871 | ||||||||||
Paid-in-capital | 106,878 | 105,714 | 107,940 | 104,970 | ||||||||||
Statutory reserves | 6,243 | 6,076 | 6,388 | 6,202 | ||||||||||
Accumulated deficits | -414,798 | -381,782 | -229,083 | -51,793 | ||||||||||
Accumulated other comprehensive income | 729 | 10,185 | 10,200 | 10,987 | ||||||||||
TOTAL GENERAL STEEL HOLDINGS, INC. DEFICIENCY | -305,086 | -263,946 | -107,291 | 69,553 | ||||||||||
TOTAL LIABILITIES AND DEFICIENCY | $ | 83,338 | $ | 83,472 | $ | 85,219 | $ | 86,326 | ||||||
The accompanying notes are an integral part of these condensed financial statements. | ||||||||||||||
SCHEDULE 1 - CONDENSED PARENT COMPANY STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS | ||||||||||||||
FOR THE YEARS ENDED DECEMBER 31, 2013, 2012, 2011 AND 2010 | ||||||||||||||
(In thousands) | ||||||||||||||
2013 | 2012 | 2011 | 2010 | |||||||||||
OPERATING EXPENSES | ||||||||||||||
General and administrative expenses | $ | -1,324 | $ | -1,260 | $ | -2,149 | $ | -3,057 | ||||||
Total operating expenses | -1,324 | -1,260 | -2,149 | -3,057 | ||||||||||
OTHER INCOME | ||||||||||||||
Finance/interest (expense) income | - | - | -1 | 1,714 | ||||||||||
Change in fair value of derivative liabilities - warrants | 1 | 9 | 5,563 | 15,055 | ||||||||||
Total other income, net | 1 | 9 | 5,562 | 16,769 | ||||||||||
EQUITY LOSS OF SUBSIDIARIES | -31,693 | -151,446 | -180,600 | -43,718 | ||||||||||
NET LOSS | -33,016 | -152,697 | -177,187 | -30,006 | ||||||||||
FOREIGN CURRENCY TRANSLATION ADJUSTMENTS | -8,927 | -802 | -787 | 2,869 | ||||||||||
COMPREHENSIVE LOSS | $ | -41,943 | $ | -153,499 | $ | -177,974 | $ | -27,137 | ||||||
The accompanying notes are an integral part of these condensed financial statements. | ||||||||||||||
SCHEDULE 1 - CONDENSED PARENT COMPANY STATEMENTS OF CASH FLOWS | ||||||||||||||
FOR THE YEARS ENDED DECEMBER 31, 2013, 2012, 2011 AND 2010 | ||||||||||||||
(In thousands) | ||||||||||||||
2013 | 2012 | 2011 | 2010 | |||||||||||
CASH FLOWS FROM OPERATING ACTIVITIES: | ||||||||||||||
Net loss | $ | -33,016 | $ | -152,697 | $ | -177,187 | $ | -30,006 | ||||||
Adjustments to reconcile net loss to cash provided by (used in) operating activities: | ||||||||||||||
Change in fair value of derivative instruments - warrants | -1 | -9 | -5,563 | -15,055 | ||||||||||
Stock issued for services and compensation | 1,165 | 919 | 1,530 | 2,479 | ||||||||||
Make whole shares interest expense on notes conversion | - | - | - | 1,130 | ||||||||||
Amortization of deferred note issuance cost and discount on convertible notes | - | - | - | 17 | ||||||||||
Loss from subsidiaries | 31,693 | 151,446 | 180,600 | 43,718 | ||||||||||
Changes in operating assets and liabilities | ||||||||||||||
Other receivables | -20 | -18 | 1 | -3 | ||||||||||
Prepaid expense | -257 | 15 | 141 | 349 | ||||||||||
Other payables and accrued liabilities | - | -1 | -1 | -2,483 | ||||||||||
Net cash used in operating activities | -436 | -345 | -479 | 146 | ||||||||||
CASH FLOWS FROM INVESTING ACTIVITIES: | ||||||||||||||
Restricted cash | - | 4 | 1,126 | -1,130 | ||||||||||
Loan repayment from (payment to) subsidiaries | 334 | 1,785 | -165 | -524 | ||||||||||
Net cash provided by investing activities | 334 | 1,789 | 961 | -1,654 | ||||||||||
CASH FLOWS FINANCING ACTIVITIES: | ||||||||||||||
Payments made for treasury stock acquired | - | -1,404 | -1,923 | -870 | ||||||||||
Borrowings from subsidiaries | 25 | - | 1,442 | 2,404 | ||||||||||
Net cash provided by (used in) financing activities | 25 | -1,404 | -481 | 1,534 | ||||||||||
(DECREASE) INCREASE IN CASH | -77 | 40 | 1 | 26 | ||||||||||
CASH, beginning of year | 88 | 48 | 47 | 21 | ||||||||||
CASH, end of year | $ | 11 | $ | 88 | $ | 48 | $ | 47 | ||||||
Non-cash transactions of investing and financing activities: | ||||||||||||||
Deconsolidation of a subsidiary as a reduction to paid-in-capital | $ | - | $ | 3,143 | $ | - | $ | - | ||||||
Share issuance for intercompany's debt settlement | $ | - | $ | - | $ | 1,442 | $ | 2,404 | ||||||
The accompanying notes are an integral part of these condensed financial statements. | ||||||||||||||
CONDENSED NOTES TO SCHEDULE 1 | ||||||||||||||
1 | Basis of presentation | |||||||||||||
Certain information and footnote disclosures normally included in financial statements prepared in conformity with generally accepted accounting principles have been condensed or omitted. The Company’s investment in subsidiaries is stated at cost plus equity in undistributed earnings of subsidiaries. | ||||||||||||||
Certain prior year amounts have been reclassified to conform to the current year presentation. These reclassifications have no effect on the accompanying condensed parent company statements of operations and cash flows. | ||||||||||||||
2 | Restricted net assets | |||||||||||||
Schedule I of Article 5-04 of Regulation S-X requires the condensed financial information of registrant shall be filed when the restricted net assets of consolidated subsidiaries exceed 25 percent of consolidated net assets as of the end of the most recently completed fiscal year. For purposes of the above test, restricted net assets of consolidated subsidiaries shall mean that amount of the registrant’s proportionate share of net assets of consolidated subsidiaries (after intercompany eliminations) which as of the end of the most recent fiscal year may not be transferred to the parent company by subsidiaries in the form of loans, advances or cash dividends without the consent of a third party (i.e., lender, regulatory agency, foreign government, etc.). | ||||||||||||||
The condensed parent company financial statements have been prepared in accordance with Rule 12-04, Schedule I of Regulation S-X as the restricted net assets of the subsidiaries of General Steel Holdings, Inc. exceed 25% of the consolidated net assets of General Steel Holdings, Inc. The ability of our Chinese operating affiliates to pay dividends may be restricted due to the foreign exchange control policies and availability of cash balances of the Chinese operating subsidiaries. Because a significant portion of our operations and revenues are conducted and generated in China, a significant portion of our revenues being earned and currency received are denominated in Renminbi (RMB). RMB is subject to the exchange control regulation in China, and, as a result, we may be unable to distribute any dividends outside of China due to PRC exchange control regulations that restrict our ability to convert RMB into US Dollars. | ||||||||||||||
3 | Derivative instruments - warrants | |||||||||||||
The Company had 3,900,871 outstanding warrants in connection with the $40 million convertible notes issued in 2007, which expired on May 13, 2013, and 2,777,778 warrants in connection with a registered direct offering in 2009, which expired on June 24, 2012. The aforementioned warrants met the definition of a derivative instrument in the accounting standards and were recorded at their fair value on each reporting date. The change in the value of the derivative liabilities is charged against or credited to income each period. | ||||||||||||||
Refer to Note 13 of the Notes to the Consolidated Financial Statements for the convertible notes and derivative liabilities. | ||||||||||||||
4 | Equity | |||||||||||||
Preferred Stock | ||||||||||||||
On May 18, 2007, the Company entered into a Purchase Agreement with Victory New Holdings Limited (“Victory New”), a British Virgin Islands registered company under the control of the Company’s Chairman, CEO and majority shareholder, Zuosheng Yu (aka Henry Yu), to acquire Victory New’s 30% interest in General Steel (China ). The Company agreed to issue to Victory New an aggregate of 3,092,899 shares of its Series A Preferred Stock with a fair value of $8,374,000. These shares of Series A Preferred Stock carry a voting power of 30% of the combined voting power of the Company’s common and preferred stock while outstanding. The holders of preferred stock are entitled to receive noncumulative dividends, when and if declared by the board of directors. Dividends are not mandatory and shall not accrue. Preferred shares are non-redeemable. | ||||||||||||||
2010 Equity Transactions | ||||||||||||||
The Company granted senior management and directors 733,300 shares of common stock as compensation in 2010. The shares were valued at the quoted market price on the grant date. The Company recorded compensation expense of $2.2 million for the year ended December 31, 2010. | ||||||||||||||
On June 7, 2010, the Company issued 928,163 shares of common stock to one of Maoming Hengda’s creditors to settle certain short-term loans. | ||||||||||||||
On August 4, 2010, $3.5 million of the Notes were converted to 1,208,791 shares of common stock. According to the Notes agreement, the Company incurred make-whole amount of $0.7 million and accrued interest expense of $0.2 million settled in shares on conversion and 350,885 shares of common stock were issued. | ||||||||||||||
On December 21, 2010, the Company’s Board of Directors authorized to repurchase up to an aggregate of 1,000,000 shares of the Company’s common stock as part of a share repurchase program (the “Share Repurchase Program”). The Share Repurchase Program does not have an expiration date and these repurchases may be made from time to time in the open market or in privately negotiated transactions in accordance with applicable laws. As of December 31, 2010, the Company has repurchased 316,760 shares for a total cost of $0.9 million. | ||||||||||||||
2011 Equity Transactions | ||||||||||||||
On March 31, 2011, the Company granted senior management and directors 240,734 shares of common stock at $2.40 per share, as compensation. The shares were valued at the quoted market price on the grant date. The Company recorded compensation expense of $0.6 million. | ||||||||||||||
On June 1, 2011, the Company announced an increase of additional 1,000,000 shares of common stock may be purchased under the Share Repurchase Program launched in December 2010, bringing the total authorized shares of its common stock available for purchase to 2,000,000. During the year ended December 31, 2011, the Company has repurchased 774,218 shares with $1.9 million pursuant to the Share Repurchase Program. The Company had a total of 1,090,978 shares of treasury stock as of December 31, 2011. | ||||||||||||||
On June 16, 2011, the Company and Maoming Hengda entered into a Debt Repayment Agreement with Guangzhou Hengda and its sole shareholder Ms. Ding Yumei whereby the Company issued 974,571 shares of its common stock to Ms. Ding Yumei, the designee and sole shareholder of Guangzhou Hengda, to repay loan balance of $4.8 million due to Guangzhou Hengda. | ||||||||||||||
On June 28, 2011, the Company granted senior management and directors 191,150 shares of common stock at $1.44 per share, as compensation. The shares were valued at the quoted market price on the grant date. The Company recorded compensation expense of $0.3 million. | ||||||||||||||
On September 26, 2011, the Company granted senior management and directors 189,650 shares of common stock at $1.18 per share, as compensation. The shares were valued at the quoted market price on the grant date. The Company recorded compensation expense of $0.2 million. | ||||||||||||||
On December 28, 2011, the Company granted senior management and directors 166,150 shares of common stock at $1.04 per share, as compensation. The shares were valued at the quoted market price on the grant date. The Company recorded compensation expense of $0.2 million. | ||||||||||||||
2012 Equity Transactions | ||||||||||||||
On March 1, 2012, Longmen Joint Venture sold its 22.76% equity interest of Tongxing to two individuals, who are the representatives from Long Steel Group. As of March 1, 2012, Tongxing had a carrying value of net assets of $40.5 million which were included in the consolidated net assets of the Company and a noncontrolling interest in Tongxing of $32.5 million. The Company retained the land use right associated with the Tongxing property adjacent to the Longmen Joint Venture facility, which had a carrying value of $3.6 million immediately prior to the transaction and relinquished its controlling interest in the remaining net assets (primarily operating assets). In connection with the transaction, the Company also settled with a payable in cash of $0.3 million and transferred the dividend receivable of $0.9 million from Tongxing to the two individuals. These arrangements meet the criteria of ASC 810-10-40-6b and 6d, deconsolidation of a Subsidiary with multiple arrangements treated as a single transaction. As the land use rights held in Tongxing have been included as part of the Company’s consolidated assets, this transaction was considered as a change in the Company’s ownership interest in the land use right similar to a change in a parent company’s ownership interest in a subsidiary in accordance with ASC 810-10-45-23 and therefore the carrying value of the land use right was not stepped up to fair value. The net impact of these transactions resulted in a reduction of $3.1 million paid-in capital. | ||||||||||||||
The following is a reconciliation of the Company’s noncontrolling interest for the year ended December 31, 2012: | ||||||||||||||
(in thousands) | Noncontrolling interest | |||||||||||||
Total | Tongxing | Others | ||||||||||||
Balance at December 31, 2011 | $ | -56,189 | $ | 32,934 | $ | -89,123 | ||||||||
Net income (loss) attributable to noncontrolling interest | -79,241 | 341 | -79,582 | |||||||||||
Addition to special reserve | 605 | - | 605 | |||||||||||
Usage of special reserve | -566 | - | -566 | |||||||||||
Deconsolidation of Tongxing | -35,943 | -33,654 | -2,289 | |||||||||||
Foreign currency translation adjustments | -729 | 379 | -1,108 | |||||||||||
Balance at December 31, 2012 | $ | -172,063 | $ | - | $ | -172,063 | ||||||||
On March 26, 2012, the Company granted senior management and directors 165,400 shares of common stock at $0.75 per share, as compensation under the Company’s 2008 Equity Incentive Plan. The shares were valued at the quoted market price on the grant date. The Company recorded compensation expense of $0.1 million. | ||||||||||||||
On March 27, 2012, we launched another share repurchase program to repurchase up to an aggregate of 2,000,000 shares of our common stock. Together with the previous share repurchase program launched in December 2010 and this newly announced Share Repurchase Program, it brought the total authorized shares of our common stock available for purchase to 4,000,000. During the year ended December 31, 2012, the Company has repurchased 1,381,328 shares with $1.4 million pursuant to the Share Repurchase Program. The Company had a total of 2,472,306 shares of treasury stock as of December 31, 2012. | ||||||||||||||
On June 28, 2012, the Company granted senior management and directors 165,400 shares of common stock at $0.80 per share, as compensation under the Company’s 2008 Equity Incentive Plan. The shares were valued at the quoted market price on the grant date. The Company recorded compensation expense of $0.1 million. | ||||||||||||||
On September 27, 2012, the Company granted senior management and directors 167,900 shares of common stock at $1.29 per share, as compensation under the Company’s 2008 Equity Incentive Plan. The shares were valued at the quoted market price on the grant date. The Company recorded compensation expense of $0.2 million. | ||||||||||||||
On December 28, 2012, the Company granted senior management and directors 169,150 shares of common stock at $1.00 per share, as compensation under the Company’s 2008 Equity Incentive Plan. The shares were valued at the quoted market price on the grant date. The Company recorded compensation expense of $0.2 million. | ||||||||||||||
2013 Equity Transactions | ||||||||||||||
On March 28, 2013, the Company granted senior management and directors 174,900 shares of common stock at $1.01 per share, as compensation under the Company’s 2008 Equity Incentive Plan. The shares were valued at the quoted market price on the grant date. | ||||||||||||||
On June 27, 2013, the Company granted senior management and directors 163,150 shares of common stock at $1.02 per share, as compensation under the Company’s 2008 Equity Incentive Plan. The shares were valued at the quoted market price on the grant date. | ||||||||||||||
On August 16, 2013, an additional $45.1 million (or RMB 280 million) was contributed to Tianwu Joint Venture with $27.0 million (or RMB 168 million) contributed by the Company and $18.0 million (or RMB 112 million) contributed by Tianjin Material and Equipment Group Corporation (“TME Group”). The Company’s controlling interest of Tianwu Joint Venture remains at 60% after the capital contribution. | ||||||||||||||
On September 28, 2013, the Company granted senior management and directors 163,150 shares of common stock at $0.88 per share as compensation under the Company’s 2008 Equity Incentive Plan. The shares were valued at the quoted market price on the grant date. | ||||||||||||||
On October 11, 2013, the Company granted 300,000 shares of common stock at $0.85 per share as service fee for corporate advisory services under a one year service agreement dated September 25, 2013. The shares were valued at the quoted market price on the grant date. | ||||||||||||||
On December 30, 2013, the Company granted senior management and directors 163,650 shares of common stock at $0.91 per share as compensation under the Company’s 2008 Equity Incentive Plan. The shares were valued at the quoted market price on the grant date. | ||||||||||||||
Prior to November 19, 2013, the Company held a combined 60.0% equity interest in Tianwu. 32% interest was held by General Steel (China) and 28% interest was held by Yangpu Shengtong. On November 19, 2013, the Company sold its 28% equity interest of Tianwu held by Yangpu Shengtong to Tianjin Dazhan Industry Co., Ltd., a related party through indirect common ownership, for $13.6 million (RMB 84.3 million) while retaining the 32% interest held by General Steel (China). As a result of this transaction, the Company met the criteria under ASC 810-10-40-4 to deconsolidate Tianwu at disposal date and recognized a gain in accordance with ASC 810-10-40-5. At the same time, Tianwu’s cumulative translation adjustment as of the disposal date was released to net income in accordance with ASC 830-30-40-1A. The total gain from the deconsolidation of Tianwu amounted to $1.0 million. | ||||||||||||||
The following is a reconciliation of the Company’s noncontrolling interest for the year ended December 31, 2013: | ||||||||||||||
(in thousands) | Noncontrolling interest | |||||||||||||
Total | Tianwu | Others | ||||||||||||
Balance at December 31, 2012 | $ | -172,063 | $ | 1,339 | $ | -173,402 | ||||||||
Net income (loss) attributable to noncontrolling interest | -9,609 | 2 | -9,611 | |||||||||||
Addition to special reserve | 553 | - | 553 | |||||||||||
Usage of special reserve | -393 | - | -393 | |||||||||||
Addition to Tianwu paid-in capital | 18,028 | 18,028 | - | |||||||||||
Deconsolidation of a subsidiary | -19,929 | -19,929 | - | |||||||||||
Foreign currency translation adjustments | -5,498 | 560 | -6,058 | |||||||||||
Balance at December 31, 2013 | $ | -188,911 | $ | - | $ | -188,911 | ||||||||
Summary_of_significant_account1
Summary of significant accounting policies (Policies) | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||
Accounting Policies [Abstract] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||
Basis of Accounting, Policy [Policy Text Block] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||
(a) | Basis of presentation | (a) | Basis of presentation | |||||||||||||||||||||||||||||||||||||||||||
The unaudited condensed consolidated financial statements of the Company reflect the activities of the following major directly owned subsidiaries: | The consolidated financial statements of the Company reflect the activities of the following major directly owned subsidiaries: | |||||||||||||||||||||||||||||||||||||||||||||
Subsidiary | Percentage | Percentage | ||||||||||||||||||||||||||||||||||||||||||||
of Ownership | Subsidiary | of Ownership | ||||||||||||||||||||||||||||||||||||||||||||
General Steel Investment Co., Ltd. | British Virgin Islands | 100 | % | General Steel Investment Co., Ltd. | British Virgin Islands | 100 | % | |||||||||||||||||||||||||||||||||||||||
General Steel (China) Co., Ltd. (“General Steel (China)”) | PRC | 100 | % | General Steel (China) Co., Ltd. (“General Steel (China)”) | PRC | 100 | % | |||||||||||||||||||||||||||||||||||||||
Baotou Steel – General Steel Special Steel Pipe Joint Venture Co., Ltd. | PRC | 80 | % | Baotou Steel – General Steel Special Steel Pipe Joint Venture Co., Ltd. | PRC | 80 | % | |||||||||||||||||||||||||||||||||||||||
Yangpu Shengtong Investment Co., Ltd. | PRC | 99.1 | % | Yangpu Shengtong Investment Co., Ltd. (“Yangpu Shengtong”) | PRC | 99.1 | % | |||||||||||||||||||||||||||||||||||||||
Tianjin Qiu Steel Investment Co., Ltd. (“Qiu Steel”) | PRC | 98.7 | % | Tianjin Qiu Steel Investment Co., Ltd. (“Qiu Steel”) | PRC | 98.7 | % | |||||||||||||||||||||||||||||||||||||||
Longmen Joint Venture | PRC | VIE/60.0 | % | Longmen Joint Venture | PRC | VIE/60.0 | % | |||||||||||||||||||||||||||||||||||||||
Maoming Hengda Steel Company, Ltd. (“Maoming Hengda”) | PRC | 99 | % | Maoming Hengda Steel Company, Ltd. (“Maoming Hengda”) | PRC | 99 | % | |||||||||||||||||||||||||||||||||||||||
Tianwu General Steel Material Trading Co., Ltd (“Tianwu Joint Venture”) | PRC | 60 | % | |||||||||||||||||||||||||||||||||||||||||||
Tianwu | ||||||||||||||||||||||||||||||||||||||||||||||
Prior to November 19, 2013, the Company held a 60.0% equity interest in Tianwu General Steel Material Trading Co., Ltd. (“Tianwu”). 32% interest was held by General Steel (China) and 28% interest was held by Yangpu Shengtong. On November 19, 2013, the Company sold its 28% equity interest of Tianwu held by Yangpu Shengtong to Tianjin Dazhan Industry Co., Ltd., a related party through indirect common ownership, for $13.6 million (RMB 84.3 million) while retaining 32% interest held by General Steel (China). Tianwu is in the process of registering the ownership change with the local State Administration for Industry and Commerce (“SAIC”) office. As a result of this transaction, the Company met the criteria under ASC 810-10-40-4 to deconsolidate Tianwu at disposal date and recognized a gain in accordance with ASC 810-10-40-5. See Note 18 – Other income (expense) under the section “Gain on deconsolidation of a subsidiary” for details. At the same time, General Steel (China)’s remaining 32% interest is accounted for as an investment in unconsolidated subsidiaries using the equity method. See Note 3(t) - Investments in unconsolidated entities for details. | ||||||||||||||||||||||||||||||||||||||||||||||
Consolidation, Policy [Policy Text Block] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||
(b) | Principles of consolidation – subsidiaries | (b) | Principles of consolidation – subsidiaries | |||||||||||||||||||||||||||||||||||||||||||
The accompanying unaudited condensed consolidated financial statements include the financial statements of the Company, its subsidiaries, its variable interest entity (“VIE”) for which the Company is the ultimate primary beneficiary, and the VIE’s subsidiaries. | The accompanying consolidated financial statements include the financial statements of the Company, its subsidiaries, its variable interest entity (“VIE”) for which the Company is the ultimate primary beneficiary, and the VIE’s subsidiaries. | |||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries are those entities in which the Company, directly or indirectly, controls more than one half of the voting power; or has the power to govern the financial and operating policies, to appoint or remove the majority of the members of the board of directors, or to cast a majority of votes at the meeting of directors. | Subsidiaries are those entities in which the Company, directly or indirectly, controls more than one half of the voting power; or has the power to govern the financial and operating policies, to appoint or remove the majority of the members of the board of directors, or to cast a majority of votes at the meeting of directors. | |||||||||||||||||||||||||||||||||||||||||||||
A VIE is an entity in which the Company, or its subsidiary, through contractual arrangements, bears the risks of, and enjoys the rewards normally associated with, ownership of the entity, and therefore the Company or its subsidiary is the primary beneficiary of the entity. | A VIE is an entity in which the Company, or its subsidiary, through contractual arrangements, bears the risks of, and enjoys the rewards normally associated with ownership of the entity, and therefore the Company or its subsidiary is the primary beneficiary of the entity. | |||||||||||||||||||||||||||||||||||||||||||||
All significant inter-company transactions and balances have been eliminated upon consolidation. | All significant inter-company transactions and balances have been eliminated upon consolidation. | |||||||||||||||||||||||||||||||||||||||||||||
Consolidation, Variable Interest Entity, Policy [Policy Text Block] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||
(c) | Consolidation of VIE (restated) | (c) | Consolidation of VIE (restated) | |||||||||||||||||||||||||||||||||||||||||||
Prior to entering into the Unified Management Agreement on April 29, 2011, Longmen Joint Venture had been consolidated as the Company’s 60% direct owned subsidiary. Upon entering into the Unified Management Agreement on April 29, 2011, Longmen Joint Venture was re-evaluated by the Company to determine if Longmen Joint Venture is a VIE and if the Company is the primary beneficiary. | Prior to entering into the Unified Management Agreement on April 29, 2011, Longmen Joint Venture had been consolidated as the Company’s 60% direct owned subsidiary. Upon entering into the Unified Management Agreement on April 29, 2011, Longmen Joint Venture was re-evaluated by the Company to determine if Longmen Joint Venture is a VIE and if the Company is the primary beneficiary. | |||||||||||||||||||||||||||||||||||||||||||||
Based on projected profits in this entity and future operating plans, Longmen Joint Venture ’s equity at risk is considered insufficient to finance its activities and therefore Longmen Joint Venture is considered to be a VIE. | Based on projected profits in this entity and future operating plans, Longmen Joint Venture ’s equity at risk is considered insufficient to finance its activities and therefore Longmen Joint Venture is considered to be a VIE. | |||||||||||||||||||||||||||||||||||||||||||||
The Company would be considered the primary beneficiary of the VIE if it has both of the following characteristics: | The Company would be considered the primary beneficiary of the VIE if it has both of the following characteristics: | |||||||||||||||||||||||||||||||||||||||||||||
a. | The power to direct the activities of the VIE that most significantly impact the VIE’s economic performance; and | a. | The power to direct the activities of the VIE that most significantly impact the VIE’s economic performance; and | |||||||||||||||||||||||||||||||||||||||||||
b. | The obligation to absorb losses of the VIE that could potentially be significant to the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE. | b. | The obligation to absorb losses of the VIE that could potentially be significant to the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE. | |||||||||||||||||||||||||||||||||||||||||||
A Supervisory Committee was formed during the negotiation of the Unified Management Agreement. Given there is both a Supervisory Committee and a Board with respect to Longmen Joint Venture , the powers (rights and roles) of both bodies were considered to determine which party has the power to direct the activities of Longmen Joint Venture , and by extension, whether the Company continues to have the power to direct Longmen Joint Venture ’s activities after this Supervisory Committee was formed and the significant investment in plant and equipment by owners of the Longmen Joint Venture partner. The Supervisory Committee, in which the Company holds 2 out of 4 seats, requires a ¾ majority vote, while the Board, which the Company holds 4 out of 7 seats, requires a simple majority vote. As the Supervisory Committee’s role is limited to supervising and monitoring management of Longmen Joint Venture and in the event there is any disagreement between the Board and the Supervisory Committee, the Board prevails, the Supervisory Committee is considered subordinate to the Board. Thus, the Board of Directors of Longmen Joint Venture continues to be the controlling decision-making body with respect to Longmen Joint Venture. The Company, which controls 60% of the voting rights of the Board of Directors, has control over the operations of Longmen Joint Venture and as such, has the power to direct the activities of the VIE that most significantly impact Longmen Joint Venture ’s economic performance. | A Supervisory Committee was formed during the negotiation of the Unified Management Agreement. Given there is both a Supervisory Committee and a Board with respect to Longmen Joint Venture , the powers (rights and roles) of both bodies were considered to determine which party has the power to direct the activities of Longmen Joint Venture , and by extension, whether the Company continues to have the power to direct Longmen Joint Venture ’s activities after this Supervisory Committee was formed and the significant investment in plant and equipment by owners of the Longmen Joint Venture partner. The Supervisory Committee, in which the Company holds 2 out of 4 seats, requires a ¾ majority vote, while the Board, which the Company holds 4 out of 7 seats, requires a simple majority vote. As the Supervisory Committee’s role is limited to supervising and monitoring management of Longmen Joint Venture and in the event there is any disagreement between the Board and the Supervisory Committee, the Board prevails, the Supervisory Committee is considered subordinate to the Board. Thus, the Board of Directors of Longmen Joint Venture continues to be the controlling decision-making body with respect to Longmen Joint Venture. The Company, which controls 60% of the voting rights of the Board of Directors, has control over the operations of Longmen Joint Venture and as such, has the power to direct the activities of the VIE that most significantly impact Longmen Joint Venture ’s economic performance. | |||||||||||||||||||||||||||||||||||||||||||||
In connection with the Unified Management Agreement, the Company, Shaanxi Coal and Shaanxi Steel may provide such support on a discretionary basis or as needed in the future. See Note 3 item (d) Liquidity. | In connection with the Unified Management Agreement, the Company, Shaanxi Coal and Shaanxi Steel may provide such support on a discretionary basis or as needed in the future. See Note 3 item (d) Liquidity. | |||||||||||||||||||||||||||||||||||||||||||||
The Company has the obligation to absorb losses and the rights to receive benefits based on the profit allocation as stipulated by the Unified Management Agreement that are significant to the VIE. As both conditions are met, the Company is the primary beneficiary of Longmen Joint Venture and therefore, continues to consolidate Longmen Joint Venture as a VIE. | The Company has the obligation to absorb losses and the rights to receive benefits based on the profit allocation as stipulated by the Unified Management Agreement that are significant to the VIE. As both conditions are met, the Company is the primary beneficiary of Longmen Joint Venture and therefore, continues to consolidate Longmen Joint Venture as a VIE. | |||||||||||||||||||||||||||||||||||||||||||||
The Company believes that the Unified Management Agreement between Longmen Joint Venture and Shaanxi Coal is in compliance with PRC law and is legally enforceable. The Board of Directors of Longmen Joint Venture continues to be the controlling decision-making body with respect to Longmen Joint Venture. The Company, which controls 60% of the voting rights of the Board of Directors, has control over the operations of Longmen Joint Venture and as such, has the power to direct the activities of the VIE. However, PRC law and/or uncertainties in the PRC legal system could limit the Company’s ability to enforce the Unified Management Agreement, which in turn, may lead to reconsideration of the VIE assessment and the potential for a different conclusion. If the Unified Management Agreement cannot be enforced, the Company would not consolidate Longmen Joint Venture as a VIE. However, the current PRC legal system has not limited the Company’s ability to enforce the Unified Management Agreement nor does the Company believe it is likely to do so in the future. The Company makes ongoing assessment to determine whether Longmen Joint Venture is a VIE. | The Company believes that the Unified Management Agreement between Longmen Joint Venture and Shaanxi Coal is in compliance with PRC law and is legally enforceable. The Board of Directors of Longmen Joint Venture continues to be the controlling decision-making body with respect to Longmen Joint Venture. The Company, which controls 60% of the voting rights of the Board of Directors, has control over the operations of Longmen Joint Venture and as such, has the power to direct the activities of the VIE. However, PRC law and/or uncertainties in the PRC legal system could limit the Company’s ability to enforce the Unified Management Agreement, which in turn, may lead to reconsideration of the VIE assessment and the potential for a different conclusion. If the Unified Management Agreement cannot be enforced, the Company would not consolidate Longmen Joint Venture as a VIE. However, the current PRC legal system has not limited the Company’s ability to enforce the Unified Management Agreement nor does the Company believe it is likely to do so in the future. The Company makes ongoing assessment to determine whether Longmen Joint Venture is a VIE. | |||||||||||||||||||||||||||||||||||||||||||||
The carrying amount of the VIE and its subsidiaries’ consolidated assets and liabilities are as follows: | The carrying amount of the VIE and its subsidiaries’ consolidated assets and liabilities are as follows: | |||||||||||||||||||||||||||||||||||||||||||||
September 30, 2013 | June 30, 2013 | March 31, 2013 | December 31, 2012 | December 31, 2013 | December 31, 2012 | December 31, 2011 | December 31, 2010 | |||||||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||||||||||||||||||||
Current assets | $ | 1,253,672 | $ | 1,129,402 | $ | 1,129,118 | $ | 1,285,967 | Current assets | $ | 1,282,054 | $ | 1,285,967 | $ | 1,674,171 | $ | 1,087,108 | |||||||||||||||||||||||||||||
Plant and equipment, net | 1,239,805 | 1,203,026 | 1,160,089 | 1,154,811 | Plant and equipment, net | 1,262,144 | 1,154,811 | 1,217,264 | 553,688 | |||||||||||||||||||||||||||||||||||||
Other noncurrent assets | 44,475 | 39,291 | 80,424 | 72,428 | Other noncurrent assets | 29,014 | 72,428 | 45,836 | 54,099 | |||||||||||||||||||||||||||||||||||||
Total assets | 2,537,952 | 2,371,719 | 2,369,631 | 2,513,206 | Total assets | 2,573,212 | 2,513,206 | 2,937,271 | 1,694,895 | |||||||||||||||||||||||||||||||||||||
Total liabilities | -3,006,938 | -2,852,083 | -2,784,151 | -2,943,761 | Total liabilities | -3,040,879 | -2,943,761 | -3,131,823 | -1,612,925 | |||||||||||||||||||||||||||||||||||||
Net liabilities | $ | -468,986 | $ | -480,364 | $ | -415,520 | $ | -430,555 | Net liabilities | $ | -467,667 | $ | -430,555 | $ | -194,552 | $ | 81,970 | |||||||||||||||||||||||||||||
September 30, 2012 | June 30, 2012 | March 31, 2012 | December 31, 2011 | VIE and its subsidiaries’ liabilities consist of the following: | ||||||||||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||||||||||||||||||||||||
Current assets | $ | 1,244,486 | $ | 1,409,756 | $ | 1,857,257 | $ | 1,674,171 | December 31, | December 31, | December 31, | December 31, | ||||||||||||||||||||||||||||||||||
Plant and equipment, net | 1,160,515 | 1,178,383 | 1,189,687 | 1,217,264 | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||||||||||||||||||||||
Other noncurrent assets | 29,665 | 37,851 | 36,069 | 45,836 | (in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||||||||
Total assets | 2,434,666 | 2,625,990 | 3,083,013 | 2,937,271 | Current liabilities: | |||||||||||||||||||||||||||||||||||||||||
Total liabilities | -2,827,446 | -2,952,712 | -3,370,233 | -3,132,766 | Short term notes payable | $ | 988,364 | $ | 971,117 | $ | 1,105,570 | $ | 447,992 | |||||||||||||||||||||||||||||||||
Net liabilities | $ | -392,780 | $ | -326,722 | $ | -287,220 | $ | -195,495 | Accounts payable | 393,816 | 324,563 | 401,158 | 230,753 | |||||||||||||||||||||||||||||||||
Accounts payable - related parties | 235,116 | 177,160 | 81,403 | 56,742 | ||||||||||||||||||||||||||||||||||||||||||
September 30, 2011 | June 30, 2011 | December 31, 2010 | Short term loans - bank | 267,688 | 114,935 | 209,234 | 260,977 | |||||||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | Short term loans - others | 55,844 | 141,290 | 240,684 | 113,328 | |||||||||||||||||||||||||||||||||||||||
Current assets | $ | 1,508,221 | $ | 1,203,128 | $ | 1,087,108 | Short term loans - related parties | 125,236 | 35,839 | 15,710 | 14,548 | |||||||||||||||||||||||||||||||||||
Plant and equipment, net | 1,172,982 | 1,150,732 | 553,688 | Current maturities of long-term loans – related party | 56,614 | 54,885 | - | - | ||||||||||||||||||||||||||||||||||||||
Other noncurrent assets | 42,995 | 44,641 | 54,099 | Other payables and accrued liabilities | 37,028 | 29,769 | 31,249 | 27,932 | ||||||||||||||||||||||||||||||||||||||
Total assets | 2,724,198 | 2,398,501 | 1,694,895 | Other payables - related parties | 88,914 | 64,941 | 20,677 | 2,132 | ||||||||||||||||||||||||||||||||||||||
Total liabilities | -2,720,490 | -2,369,035 | -1,612,925 | Customer deposits | 87,661 | 109,120 | 84,767 | 129,832 | ||||||||||||||||||||||||||||||||||||||
Net liabilities | $ | 3,708 | $ | 29,466 | $ | 81,970 | Customer deposits - related parties | 18,359 | 21,998 | 66,932 | 53,624 | |||||||||||||||||||||||||||||||||||
Deposit due to sales representatives | 24,343 | 33,870 | 22,890 | 52,079 | ||||||||||||||||||||||||||||||||||||||||||
VIE and its subsidiaries’ liabilities consist of the following: | Deposit due to sales representatives – related parties | 1,997 | 1,238 | - | - | |||||||||||||||||||||||||||||||||||||||||
Taxes payable | 3,357 | 15,339 | 5,386 | 5,159 | ||||||||||||||||||||||||||||||||||||||||||
September 30, 2013 | June 30, 2013 | March 31, 2013 | December 31, 2012 | Deferred lease income | 2,187 | 2,120 | 2,099 | 1,971 | ||||||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | Capital lease obligations, current | 4,321 | - | 25,607 | - | ||||||||||||||||||||||||||||||||||||||
Current liabilities: | Intercompany payable to be eliminated | 21,420 | 30,476 | 66,021 | 69,216 | |||||||||||||||||||||||||||||||||||||||||
Short term notes payable | $ | 950,498 | $ | 792,234 | $ | 785,296 | $ | 971,117 | Total current liabilities | 2,412,265 | 2,128,660 | 2,379,387 | 1,466,285 | |||||||||||||||||||||||||||||||||
Accounts payable | 466,631 | 395,962 | 386,434 | 324,563 | Non-current liabilities: | |||||||||||||||||||||||||||||||||||||||||
Accounts payable - related parties | 171,759 | 171,806 | 154,146 | 177,160 | Long term loans - related parties | 16,043 | 38,088 | 92,035 | 91,020 | |||||||||||||||||||||||||||||||||||||
Short term loans - bank | 215,955 | 174,252 | 84,753 | 114,935 | Long-term other payable – related party | - | 43,008 | - | - | |||||||||||||||||||||||||||||||||||||
Short term loans - others | 123,974 | 145,086 | 141,956 | 141,290 | Deferred lease income - noncurrent | 75,257 | 75,079 | 76,425 | 55,620 | |||||||||||||||||||||||||||||||||||||
Short term loans - related parties | 42,613 | 68,879 | 97,766 | 35,839 | Capital lease obligations, noncurrent | 375,019 | 330,099 | 280,743 | - | |||||||||||||||||||||||||||||||||||||
Current maturities of long-term loans – related party | 56,372 | 56,026 | 55,196 | 54,885 | Profit sharing liability at fair value | 162,295 | 328,827 | 303,233 | - | |||||||||||||||||||||||||||||||||||||
Other payables and accrued liabilities | 43,978 | 41,372 | 38,490 | 29,769 | Total non-current liabilities | 628,614 | 815,101 | 752,436 | 146,640 | |||||||||||||||||||||||||||||||||||||
Other payables - related parties | 96,901 | 91,623 | 67,261 | 64,941 | Total liabilities of consolidated VIE | $ | 3,040,879 | $ | 2,943,761 | $ | 3,131,823 | $ | 1,612,925 | |||||||||||||||||||||||||||||||||
Customer deposits | 94,767 | 121,736 | 104,328 | 109,120 | ||||||||||||||||||||||||||||||||||||||||||
Customer deposits - related parties | 14,512 | 7,798 | 12,649 | 21,998 | For the year ended | For the year ended | For the year ended | For the year ended | ||||||||||||||||||||||||||||||||||||||
Deposit due to sales representatives | 28,184 | 30,800 | 40,484 | 33,870 | December 31, 2013 | December 31, 2012 | December 31, 2011 | December 31, 2010 | ||||||||||||||||||||||||||||||||||||||
Deposit due to sales representatives – related parties | 1,809 | 1,798 | 1,772 | 1,238 | (in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||||||||
Taxes payable | 8,258 | 9,050 | 11,106 | 15,339 | Sales | $ | 2,450,256 | $ | 2,837,608 | $ | 3,496,551 | $ | 1,846,080 | |||||||||||||||||||||||||||||||||
Deferred lease income | 2,178 | 2,164 | 2,132 | 2,120 | Gross (loss) profit | $ | -56,065 | $ | 29,512 | $ | -86,308 | $ | 32,751 | |||||||||||||||||||||||||||||||||
Intercompany payable to be eliminated | - | 17,320 | 21,576 | 30,476 | Income (loss) from operations | $ | 45,161 | $ | -68,081 | $ | -175,104 | $ | -8,073 | |||||||||||||||||||||||||||||||||
Total current liabilities | 2,318,416 | 2,127,906 | 2,005,345 | 2,128,660 | Net loss attributable to controlling interest | $ | -16,457 | $ | -114,936 | $ | -161,897 | $ | -32,668 | |||||||||||||||||||||||||||||||||
Non-current liabilities: | ||||||||||||||||||||||||||||||||||||||||||||||
Long term loans - related parties | 15,974 | 21,148 | 38,304 | 38,088 | Longmen Joint Venture has two 100% owned subsidiaries, Yuxin Trading Co., Ltd. (“Yuxin”) and Yuteng Trading Co., Ltd. (“Yuteng”). Prior to March 1, 2012, Longmen Joint Venture had three consolidated subsidiaries, Hualong Fire Retardant Material Co., Ltd. (“Hualong”), Hancheng Tongxing Metallurgy Co., Ltd. (“Tongxing”) and Beijing Huatianyulong International Steel Trading Co., Ltd. (“Huatianyulong”), in which Longmen Joint Venture did not hold a controlling equity interest. On March 1, 2012, Longmen Joint Venture sold its equity interest in Tongxing, and, as of March 31, 2012, Longmen Joint Venture has two consolidated subsidiaries, Hualong and Huatianyulong, in which it does not hold a controlling interest. Hualong and Huatianyulong are separate legal entities which were established in the PRC as limited liability companies and subsequently invested in by Longmen Joint Venture in June 2007 and July 2008, respectively. However, these two entities do not meet the definition of variable interest entities. Further consideration was given to whether consolidation was appropriate under the voting interest model, specifically where the power of control may exist with a lesser percentage of ownership (i.e. less than 50%), for example, by contract, lease, agreement with other stockholders or by court decree. | |||||||||||||||||||||||||||||||||||||||||
Long-term other payable – related party | - | - | 43,252 | 43,008 | ||||||||||||||||||||||||||||||||||||||||||
Deferred lease income | 75,480 | 75,558 | 74,971 | 75,079 | Hualong | |||||||||||||||||||||||||||||||||||||||||
Capital lease obligations, noncurrent | 354,576 | 347,290 | 337,075 | 330,099 | ||||||||||||||||||||||||||||||||||||||||||
Profit sharing liability at fair value | 241,090 | 278,788 | 283,831 | 328,827 | Longmen Joint Venture, the single largest shareholder, holds a 36.0% equity interest in Hualong. The other two shareholders, who own 34.67% and 29.33% respectively, assigned their voting rights to Longmen Joint Venture in writing at the time of the acquisition of Hualong. The voting rights have been assigned through the date Hualong ceases its business operations or the other two shareholders sell their interest in Hualong. Hualong’s main business is to supply refractory. The assets, liabilities and the operating results of Hualong are immaterial to the Company’s consolidated financial statements as for and during the years ended December 31, 2013, 2012, 2011 and 2010. | |||||||||||||||||||||||||||||||||||||||||
Other noncurrent liabilities | 1,402 | 1,393 | 1,373 | - | ||||||||||||||||||||||||||||||||||||||||||
Total non-current liabilities | 688,522 | 724,177 | 778,806 | 815,101 | Tongxing | |||||||||||||||||||||||||||||||||||||||||
Total liabilities of consolidated VIE | $ | 3,006,938 | $ | 2,852,083 | $ | 2,784,151 | $ | 2,943,761 | ||||||||||||||||||||||||||||||||||||||
Prior to March 1, 2012, Longmen Joint Venture held a 22.76% equity interest in Tongxing while hundreds of employees of Longmen Joint Venture owned the remaining 77.24%. Each individual employee shareholder comprising the remaining 77.24% assigned its voting rights to Longmen Joint Venture in writing at the time of the acquisition of Tongxing. The voting rights assigned were effective until Tongxing ceased its business operations or Longmen Joint Venture liquidated its equity interest of Tongxing, whichever came first. | ||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2012 | June 30, 2012 | March 31, 2012 | December 31, 2011 | On March 1, 2012, Longmen Joint Venture sold its 22.76% equity interest of Tongxing to two individuals, who are the representatives from Long Steel Group. As of March 1, 2012, Tongxing had a carrying value of net assets of $40.5 million which were included in the consolidated net assets of the Company and a noncontrolling interest in Tongxing of $32.5 million. The Company retained the land use right associated with the Tongxing property adjacent to the Longmen Joint Venture facility, which had a carrying value of $3.6 million immediately prior to the transaction and relinquished its controlling interest in the remaining net assets (primarily operating assets). In connection with the transaction, the Company also settled with a payable in cash of $0.3 million and transferred the dividend receivable of $0.9 million from Tongxing to the two individuals. These arrangements meet the criteria of ASC 810-10-40-6b and 6d, deconsolidation of a Subsidiary with multiple arrangements treated as a single transaction. As the land use rights held in Tongxing have been included as part of the Company’s consolidated assets, this transaction was considered as a change in the Company’s ownership interest in the land use right similar to a change in a parent company’s ownership interest in a subsidiary in accordance with ASC 810-10-45-23 and therefore the carrying value of the land use right was not stepped up to fair value. The net impact of these transactions resulted in a reduction of $3.1 million paid-in capital on March 1, 2012. | ||||||||||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||||||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||||||||||||||||||||||||||||
Short term notes payable | $ | 855,105 | $ | 897,982 | $ | 1,227,564 | $ | 1,105,570 | Huatianyulong | |||||||||||||||||||||||||||||||||||||
Accounts payable | 296,300 | 353,215 | 253,936 | 401,158 | ||||||||||||||||||||||||||||||||||||||||||
Accounts payable - related parties | 117,601 | 116,479 | 156,738 | 81,403 | Longmen Joint Venture holds a 50.0% equity interest in Huatianyulong and the other unrelated shareholder holds the remaining 50.0%. The other shareholder assigned its voting rights to Longmen Joint Venture in writing at the time of acquisition of Huatianyulong. The voting rights have been assigned through the date Huatianyulong ceases its business operation or the other unrelated shareholder sells its interest in Huatianyulong. Huatianyulong mainly sells imported iron ore. The assets, liabilities and the operating results of Huatianyulong are immaterial to the Company’s consolidated financial statements as for and during the years ended December 31, 2013, 2012, 2011 and 2010. | |||||||||||||||||||||||||||||||||||||||||
Short term loans - bank | 102,895 | 160,162 | 277,136 | 209,234 | ||||||||||||||||||||||||||||||||||||||||||
Short term loans - others | 206,702 | 234,099 | 293,686 | 240,684 | The Company has determined that it is appropriate for Longmen Joint Venture to consolidate Hualong and Huatianyulong with appropriate recognition in the Company’s financial statements of the non-controlling interests in each entity, beginning on the acquisition dates as these were also the effective dates of the agreements with other stockholders granting a majority voting rights in each entity, and thereby, the power of control, to Longmen Joint Venture. The Company also has determined that it is appropriate for Longmen Joint Venture to consolidate Tongxing’s net income from the beginning of the acquisition date to March 1, 2012, the date on which Longmen Joint Venture relinquished its equity interest and majority voting rights in Tongxing, and thereby its power of control of Tongxing. | |||||||||||||||||||||||||||||||||||||||||
Short term loans - related parties | 45,506 | 15,892 | 31,682 | 15,710 | ||||||||||||||||||||||||||||||||||||||||||
Current maturities of long-term loans – related party | 49,997 | - | - | |||||||||||||||||||||||||||||||||||||||||||
Other payables and accrued liabilities | 34,379 | 35,140 | 25,819 | 31,249 | ||||||||||||||||||||||||||||||||||||||||||
Other payables - related parties | 105,402 | 120,104 | 85,053 | 20,677 | ||||||||||||||||||||||||||||||||||||||||||
Customer deposits | 80,219 | 88,172 | 75,495 | 84,767 | ||||||||||||||||||||||||||||||||||||||||||
Customer deposits - related parties | 83,233 | 39,134 | 49,483 | 66,932 | ||||||||||||||||||||||||||||||||||||||||||
Deposit due to sales representatives | 34,987 | 30,602 | 33,534 | 22,890 | ||||||||||||||||||||||||||||||||||||||||||
Deposit due to sales representatives – related parties | 1,235 | 1,236 | 1,236 | 943 | ||||||||||||||||||||||||||||||||||||||||||
Taxes payable | 5,472 | 5,583 | 4,478 | 5,386 | ||||||||||||||||||||||||||||||||||||||||||
Deferred lease income - current | 2,115 | 2,117 | 2,116 | 2,099 | ||||||||||||||||||||||||||||||||||||||||||
Intercompany payable to be eliminated | 41,582 | 47,276 | 57,518 | 66,021 | ||||||||||||||||||||||||||||||||||||||||||
Total current liabilities | 2,062,730 | 2,147,193 | 2,575,474 | 2,354,723 | ||||||||||||||||||||||||||||||||||||||||||
Non-current liabilities: | ||||||||||||||||||||||||||||||||||||||||||||||
Long term loans - related parties | 42,741 | 92,856 | 92,797 | 92,035 | ||||||||||||||||||||||||||||||||||||||||||
Deferred lease income - noncurrent | 75,418 | 76,043 | 76,524 | 76,425 | ||||||||||||||||||||||||||||||||||||||||||
Capital lease obligations | 324,171 | 319,446 | 314,080 | 306,350 | ||||||||||||||||||||||||||||||||||||||||||
Profit sharing liability | 322,386 | 317,174 | 311,358 | 303,233 | ||||||||||||||||||||||||||||||||||||||||||
Total non-current liabilities | 764,716 | 805,519 | 794,759 | 778,043 | ||||||||||||||||||||||||||||||||||||||||||
Total liabilities of consolidated VIE | $ | 2,827,446 | $ | 2,952,712 | $ | 3,370,233 | $ | 3,132,766 | ||||||||||||||||||||||||||||||||||||||
September 30, 2011 | June 30, 2011 | December 31, 2010 | ||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||||||||||||||||||||||||||||
Short term notes payable | $ | 548,671 | $ | 321,782 | $ | 447,992 | ||||||||||||||||||||||||||||||||||||||||
Accounts payable | 339,163 | 292,834 | 230,753 | |||||||||||||||||||||||||||||||||||||||||||
Accounts payable - related parties | 62,958 | 102,771 | 56,742 | |||||||||||||||||||||||||||||||||||||||||||
Short term loans - bank | 369,225 | 277,053 | 260,977 | |||||||||||||||||||||||||||||||||||||||||||
Short term loans - others | 221,249 | 84,018 | 113,328 | |||||||||||||||||||||||||||||||||||||||||||
Short term loans - related parties | 15,650 | 15,637 | 14,548 | |||||||||||||||||||||||||||||||||||||||||||
Other payables and accrued liabilities | 27,693 | 27,545 | 27,932 | |||||||||||||||||||||||||||||||||||||||||||
Other payables - related parties | 5,937 | 9,368 | 2,132 | |||||||||||||||||||||||||||||||||||||||||||
Customer deposits | 190,440 | 287,882 | 129,832 | |||||||||||||||||||||||||||||||||||||||||||
Customer deposits - related parties | 53,045 | 64,482 | 53,624 | |||||||||||||||||||||||||||||||||||||||||||
Deposit due to sales representatives | 21,488 | 23,660 | 52,079 | |||||||||||||||||||||||||||||||||||||||||||
Taxes payable | 10,604 | 11,188 | 5,159 | |||||||||||||||||||||||||||||||||||||||||||
Deferred lease income | 2,091 | 2,067 | 1,971 | |||||||||||||||||||||||||||||||||||||||||||
Capital lease obligations, current | 18,505 | 11,552 | - | |||||||||||||||||||||||||||||||||||||||||||
Intercompany payable to be eliminated | 71,485 | 58,582 | 69,216 | |||||||||||||||||||||||||||||||||||||||||||
Total current liabilities | 1,958,204 | 1,590,421 | 1,466,285 | |||||||||||||||||||||||||||||||||||||||||||
Non-current liabilities: | ||||||||||||||||||||||||||||||||||||||||||||||
Long term loans - related parties | 107,695 | 134,566 | 91,020 | |||||||||||||||||||||||||||||||||||||||||||
Deferred lease income - noncurrent | 76,358 | 76,282 | 55,620 | |||||||||||||||||||||||||||||||||||||||||||
Capital lease obligations, noncurrent | 281,510 | 282,895 | - | |||||||||||||||||||||||||||||||||||||||||||
Profit sharing liability at fair value | 296,723 | 284,871 | - | |||||||||||||||||||||||||||||||||||||||||||
Total non-current liabilities | 762,286 | 778,614 | 146,640 | |||||||||||||||||||||||||||||||||||||||||||
Total liabilities of consolidated VIE | $ | 2,720,490 | $ | 2,369,035 | $ | 1,612,925 | ||||||||||||||||||||||||||||||||||||||||
VIE and its subsidiaries’ statements of operations are as follows: | ||||||||||||||||||||||||||||||||||||||||||||||
Three months ended | Three months ended | |||||||||||||||||||||||||||||||||||||||||||||
September 30, 2013 | September 30, 2012 | |||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | |||||||||||||||||||||||||||||||||||||||||||||
Sales | $ | 606,444 | $ | 708,974 | ||||||||||||||||||||||||||||||||||||||||||
Gross profit (loss) | $ | 8,122 | $ | -18,417 | ||||||||||||||||||||||||||||||||||||||||||
Income (loss) from operations | $ | 30,306 | $ | -42,611 | ||||||||||||||||||||||||||||||||||||||||||
Net income (loss) attributable to controlling interest | $ | 8,284 | $ | -39,494 | ||||||||||||||||||||||||||||||||||||||||||
Three months ended | Three months ended | |||||||||||||||||||||||||||||||||||||||||||||
September 30, 2011 | September 30, 2010 | |||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | |||||||||||||||||||||||||||||||||||||||||||||
Sales | $ | 986,938 | $ | 455,028 | ||||||||||||||||||||||||||||||||||||||||||
Gross profit (loss) | $ | 29,400 | $ | 14,304 | ||||||||||||||||||||||||||||||||||||||||||
Income (loss) from operations | $ | 1,773 | $ | 6,734 | ||||||||||||||||||||||||||||||||||||||||||
Net income (loss) attributable to controlling interest | $ | -14,766 | $ | -1,351 | ||||||||||||||||||||||||||||||||||||||||||
Nine months ended | Nine months ended | |||||||||||||||||||||||||||||||||||||||||||||
September 30, 2013 | September 30, 2012 | |||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | |||||||||||||||||||||||||||||||||||||||||||||
Sales | $ | 1,903,933 | $ | 2,126,556 | ||||||||||||||||||||||||||||||||||||||||||
Gross profit (loss) | $ | -23,704 | $ | 12,628 | ||||||||||||||||||||||||||||||||||||||||||
Income (loss) from operations | $ | 20,558 | $ | -56,932 | ||||||||||||||||||||||||||||||||||||||||||
Net loss attributable to controlling interest | $ | -18,335 | $ | -92,974 | ||||||||||||||||||||||||||||||||||||||||||
Nine months ended | Nine months ended | |||||||||||||||||||||||||||||||||||||||||||||
September 30, 2011 | September 30, 2010 | |||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | |||||||||||||||||||||||||||||||||||||||||||||
Sales | $ | 2,752,918 | $ | 1,389,215 | ||||||||||||||||||||||||||||||||||||||||||
Gross profit (loss) | $ | 56,215 | $ | 28,450 | ||||||||||||||||||||||||||||||||||||||||||
Income (loss) from operations | $ | -5,599 | $ | 1,905 | ||||||||||||||||||||||||||||||||||||||||||
Net loss attributable to controlling interest | $ | -44,654 | $ | -15,913 | ||||||||||||||||||||||||||||||||||||||||||
Three months ended | Three months ended | |||||||||||||||||||||||||||||||||||||||||||||
June 30, 2013 | June 30, 2012 | |||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | |||||||||||||||||||||||||||||||||||||||||||||
Sales | $ | 650,741 | $ | 774,306 | ||||||||||||||||||||||||||||||||||||||||||
Gross profit (loss) | $ | -36,193 | $ | 25,770 | ||||||||||||||||||||||||||||||||||||||||||
Income (loss) from operations | $ | -44,685 | $ | 2,903 | ||||||||||||||||||||||||||||||||||||||||||
Net loss attributable to controlling interest | $ | -34,944 | $ | -23,132 | ||||||||||||||||||||||||||||||||||||||||||
Three months ended | Three months ended | |||||||||||||||||||||||||||||||||||||||||||||
June 30, 2011 | June 30, 2010 | |||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | |||||||||||||||||||||||||||||||||||||||||||||
Sales | $ | 1,056,675 | $ | 499,361 | ||||||||||||||||||||||||||||||||||||||||||
Gross profit (loss) | $ | 22,300 | $ | 8,120 | ||||||||||||||||||||||||||||||||||||||||||
Income (loss) from operations | $ | 138 | $ | -1,046 | ||||||||||||||||||||||||||||||||||||||||||
Net loss attributable to controlling interest | $ | -19,707 | $ | -7,472 | ||||||||||||||||||||||||||||||||||||||||||
Six months ended | Six months ended | |||||||||||||||||||||||||||||||||||||||||||||
June 30, 2013 | June 30, 2012 | |||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | |||||||||||||||||||||||||||||||||||||||||||||
Sales | $ | 1,297,489 | $ | 1,417,582 | ||||||||||||||||||||||||||||||||||||||||||
Gross profit (loss) | $ | -31,826 | $ | 31,045 | ||||||||||||||||||||||||||||||||||||||||||
Loss from operations | $ | -9,748 | $ | -14,321 | ||||||||||||||||||||||||||||||||||||||||||
Net loss attributable to controlling interest | $ | -26,619 | $ | -53,480 | ||||||||||||||||||||||||||||||||||||||||||
Six months ended | Six months ended | |||||||||||||||||||||||||||||||||||||||||||||
June 30, 2011 | June 30, 2010 | |||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | |||||||||||||||||||||||||||||||||||||||||||||
Sales | $ | 1,765,980 | $ | 934,187 | ||||||||||||||||||||||||||||||||||||||||||
Gross profit (loss) | $ | 26,818 | $ | 14,146 | ||||||||||||||||||||||||||||||||||||||||||
Loss from operations | $ | -7,370 | $ | -4,828 | ||||||||||||||||||||||||||||||||||||||||||
Net loss attributable to controlling interest | $ | -29,885 | $ | -14,562 | ||||||||||||||||||||||||||||||||||||||||||
Three months ended | Three months ended | Three months ended | ||||||||||||||||||||||||||||||||||||||||||||
March 31, 2013 | March, 2012 | March, 2011 | ||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||||||||||||||
Sales | $ | 646,748 | $ | 643,276 | $ | 709,305 | ||||||||||||||||||||||||||||||||||||||||
Gross profit | $ | 4,367 | $ | 5,275 | $ | 4,518 | ||||||||||||||||||||||||||||||||||||||||
Income (loss) from operations | $ | 34,937 | $ | -17,224 | $ | -7,508 | ||||||||||||||||||||||||||||||||||||||||
Net income (loss) attributable to controlling interest | $ | 8,325 | $ | -30,348 | $ | -10,178 | ||||||||||||||||||||||||||||||||||||||||
Longmen Joint Venture has two 100% owned subsidiaries, Yuxin Trading Co., Ltd. (“Yuxin”) and Yuteng Trading Co., Ltd. (“Yuteng”). Prior to March 1, 2012, Longmen Joint Venture had three consolidated subsidiaries, Hualong Fire Retardant Material Co., Ltd. (“Hualong”), Hancheng Tongxing Metallurgy Co., Ltd. (“Tongxing”) and Beijing Huatianyulong International Steel Trading Co., Ltd. (“Huatianyulong”), in which Longmen Joint Venture did not hold a controlling interest. On March 1, 2012, Longmen Joint Venture sold its equity interest in Tongxing, and, as of March 31, 2012, Longmen Joint Venture has two consolidated subsidiaries, Hualong and Huatianyulong, in which it does not hold a controlling interest. Hualong and Huatianyulong are separate legal entities which were established in the PRC as limited liability companies and subsequently acquired by Longmen Joint Venture in June 2007 and July 2008, respectively. Prior to and subsequent to their acquisition by Longmen Joint Venture, these two entities have been operating as self-sustaining integrated sets of activities and assets conducted and managed for the purpose of providing a return to shareholders consisting of all the inputs, processes and outputs of a business. However, these two entities do not meet the definition of variable interest entities. Further consideration was given to whether consolidation was appropriate under the voting interest model, specifically where the power of control may exist with a lesser percentage of ownership (i.e. less than 50%), for example, by contract, lease, agreement with other stockholders or by court decree. | ||||||||||||||||||||||||||||||||||||||||||||||
Hualong | ||||||||||||||||||||||||||||||||||||||||||||||
Longmen Joint Venture, the single largest shareholder, holds a 36.0% equity interest in Hualong. The other two shareholders, who own 34.67% and 29.33% respectively, assigned their voting rights to Longmen Joint Venture in writing at the time of the acquisition of Hualong. The voting rights have been assigned through the date Hualong ceases its business operations or the other two shareholders sell their interest in Hualong. Hualong’s main business is to supply refractory. The assets, liabilities and the operating results of Hualong are immaterial to the Company’s condensed consolidated financial statements as of September 30, 2013, June 30, 2013, March 31, 2013, December 31, 2012, September 30, 2012, June 30, 2012, March 31, 2012, December 31, 2011, September 30, 2011, June 30, 2011 and December 31, 2010, for the three and nine months ended September 30, 2013, 2012, 2011 and 2010, three and six months ended June 30, 2013, 2012, 2011 and 2010, and three months ended March 31, 2013, 2012 and 2011, respectively. | ||||||||||||||||||||||||||||||||||||||||||||||
Tongxing | ||||||||||||||||||||||||||||||||||||||||||||||
Prior to March 1, 2012, Longmen Joint Venture held a 22.76% equity interest in Tongxing while hundreds of employees of Longmen Joint Venture owned the remaining 77.24%. Each individual employee shareholder comprising the remaining 77.24% assigned its voting rights to Longmen Joint Venture in writing at the time of the acquisition of Tongxing. The voting rights assigned were effective until Tongxing ceased its business operations or Longmen Joint Venture liquidated its equity interest of Tongxing, whichever came first. The assets, liabilities and the operating results of Tongxing were immaterial to the Company’s consolidated financial statements as of December 31, 2011, September 30, 2011, June 30, 2011 and December 31, 2010, for the three and nine months ended September 30, 2011 and 2010, for the three and six months ended June 30, 2011 and 2010, and for the three months ended March 31, 2011, respectively. | ||||||||||||||||||||||||||||||||||||||||||||||
On March 1, 2012, Longmen Joint Venture sold its 22.76% equity interest of Tongxing to two individuals, who are the representatives from Long Steel Group. As of March 1, 2012, Tongxing had a carrying value of net assets of $40.5 million which were included in the consolidated net assets of the Company and a noncontrolling interest in Tongxing of $32.5 million. The Company retained the land use right associated with the Tongxing property adjacent to the Longmen Joint Venture facility, which had a carrying value of $3.6 million immediately prior to the transaction and relinquished its controlling interest in the remaining net assets (primarily operating assets). In connection with the transaction, the Company also settled with a payable in cash of $0.3 million and transferred the dividend receivable of $0.9 million from Tongxing to the two individuals. These arrangements meet the criteria of ASC 810-10-40-6b and 6d, deconsolidation of a Subsidiary with multiple arrangements treated as a single transaction. As the land use rights held in Tongxing have been included as part of the Company’s consolidated assets, this transaction was considered as a change in the Company’s ownership interest in the land use right similar to a change in a parent company’s ownership interest in a subsidiary in accordance with ASC 810-10-45-23 and therefore the carrying value of the land use right was not stepped up to fair value. The net impact of these transactions resulted in a reduction of $3.1 million paid-in capital on March 1, 2012. | ||||||||||||||||||||||||||||||||||||||||||||||
Huatianyulong | ||||||||||||||||||||||||||||||||||||||||||||||
Longmen Joint Venture holds a 50.0% equity interest in Huatianyulong and the other unrelated shareholder holds the remaining 50.0%. The other shareholder assigned its voting rights to Longmen Joint Venture in writing at the time of acquisition of Huatianyulong. The voting rights have been assigned through the date Huatianyulong ceases its business operation or the other unrelated shareholder sells its interest in Huatianyulong. Huatianyulong mainly sells imported iron ore. The assets, liabilities and the operating results of Hualong are immaterial to the Company’s consolidated financial statements as of September 30, 2013, June 30, 2013, March 31, 2013, December 31, 2012, September 30, 2012, June 30, 2012, March 31, 2012, December 31, 2011, September 30, 2011, June 30, 2011 and December 31, 2010, for the three and nine months ended September 30, 2013, 2012, 2011 and 2010, three and six months ended June 30, 2013, 2012, 2011 and 2010, and three months ended March 31, 2013, 2012 and 2011, respectively. | ||||||||||||||||||||||||||||||||||||||||||||||
The Company has determined that it is appropriate for Longmen Joint Venture to consolidate Hualong and Huatianyulong with appropriate recognition in the Company’s financial statements of the non-controlling interests in each entity, beginning on the acquisition dates as these were also the effective dates of the agreements with other stockholders granting a majority voting rights in each entity, and thereby, the power of control, to Longmen Joint Venture. The Company also has determined that it is appropriate for Longmen Joint Venture to consolidate Tongxing’s net income from the beginning of the acquisition date to March 1, 2012, the date on which Longmen Joint Venture relinquished its equity interest and majority voting rights in Tongxing, and thereby its power of control of Tongxing. | ||||||||||||||||||||||||||||||||||||||||||||||
Liquidity Disclosure [Policy Text Block] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||
(d) | (d) | Liquidity | ||||||||||||||||||||||||||||||||||||||||||||
Liquidity | ||||||||||||||||||||||||||||||||||||||||||||||
The Company’s accounts have been prepared in accordance with U.S. GAAP on a going concern basis. The going concern basis assumes that assets are realized and liabilities are extinguished in the ordinary course of business at amounts disclosed in the financial statements. The Company’s ability to continue as a going concern depends upon aligning its sources of funding (debt and equity) with the expenditure requirements of the Company and repayment of the short-term debt facilities as and when they fall due. | ||||||||||||||||||||||||||||||||||||||||||||||
The Company’s accounts have been prepared in accordance with U.S. GAAP on a going concern basis. The going concern basis assumes that assets are realized and liabilities are extinguished in the ordinary course of business at amounts disclosed in the financial statements. The Company’s ability to continue as a going concern depends upon aligning its sources of funding (debt and equity) with the expenditure requirements of the Company and repayment of the short-term debt facilities as and when they fall due. | ||||||||||||||||||||||||||||||||||||||||||||||
The steel business is capital intensive and as a normal industry practice in PRC, the Company is highly leveraged. Debt financing in the form of short term bank loans, loans from related parties, financing sales, bank acceptance notes, and capital leases have been utilized to finance the working capital requirements and the capital expenditures of the Company. As a result, the Company’s debt to equity ratio as of December 31, 2013, 2012, 2011 and 2010 were (6.5), (7.1), (19.7) and 13.8, respectively. As of December 31, 2013, the Company’s current liabilities exceed current assets (excluding non-cash item) by $1.2 billion. | ||||||||||||||||||||||||||||||||||||||||||||||
The steel business is capital intensive and as a normal industry practice in PRC, the Company is highly leveraged. Debt financing in the form of short term bank loans, loans from related parties, financing sales, bank acceptance notes, and capital leases have been utilized to finance the working capital requirements and the capital expenditures of the Company. As a result, the Company’s debt to equity ratio as of September 30, 2013, June 30, 2013, March 31, 2013, December 31, 2012, September 30, 2012, June 30, 2012, March 31, 2012, December 31, 2011, September 30, 2011, June 30, 2011 and December 31, 2010 were (6.6), (5.9), (6.7), (7.1), (8.1), (10.1), (13.6), (19.8), 56.1, 33.0 and 13.8, respectively. As of September 30, 2013, the Company’s current liabilities exceed current assets (excluding non-cash item) by $1.1 billion. | ||||||||||||||||||||||||||||||||||||||||||||||
Longmen Joint Venture, as the most important entity of the Company, accounted for majority of total sales of the Company. As such, the majority of the Company’s working capital needs come from Longmen Joint Venture. The Company’s ability to continue as a going concern depends heavily on Longmen Joint Venture’s operations. Longmen Joint Venture has obtained different types of financial supports, which are listed below by category: | ||||||||||||||||||||||||||||||||||||||||||||||
Longmen Joint Venture, as the most important entity of the Company, accounted for majority of total sales of the Company. As such, the majority of the Company’s working capital needs come from Longmen Joint Venture. The Company’s ability to continue as a going concern depends heavily on Longmen Joint Venture’s operations. Longmen Joint Venture has obtained different types of financial supports, which are listed below by category: | ||||||||||||||||||||||||||||||||||||||||||||||
Line of credit | ||||||||||||||||||||||||||||||||||||||||||||||
Line of credit | ||||||||||||||||||||||||||||||||||||||||||||||
The Company received lines of credit from the listed major banks totaling $230.7 million with expiration dates ranging from March 23, 2015 to July 17, 2015. | ||||||||||||||||||||||||||||||||||||||||||||||
The Company received lines of credit from the listed major banks totaling $110.8 million with expiration dates ranging from September 27, 2014 to October 26, 2014. | ||||||||||||||||||||||||||||||||||||||||||||||
Banks | Amount of | Repayment Date | ||||||||||||||||||||||||||||||||||||||||||||
Banks | Amount of | Repayment Date | Line of Credit | |||||||||||||||||||||||||||||||||||||||||||
Line of Credit | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||
(in millions) | Bank of Chongqing | 49.1 | 23-Mar-15 | |||||||||||||||||||||||||||||||||||||||||||
Bank of China | 6.5 | August 25, 2014 to October 26, 2014 | Industrial Bank Co., Ltd. | 49.1 | 5-May-15 | |||||||||||||||||||||||||||||||||||||||||
China Everbright Bank | 48.9 | 8-Oct-14 | China Merchant Bank | 49.1 | 19-May-15 | |||||||||||||||||||||||||||||||||||||||||
Bank of Xi’an | 32.6 | 9-Oct-14 | China CITIC Bank | 32.7 | 16-Jun-15 | |||||||||||||||||||||||||||||||||||||||||
Bank of Jinzhou | 22.8 | September 27, 2014* | Bank of Communication | 18 | 17-Jul-15 | |||||||||||||||||||||||||||||||||||||||||
Total | $ | 110.8 | Bank of Jinzhou | 32.7 | 23-Mar-15 | |||||||||||||||||||||||||||||||||||||||||
Total | $ | 230.7 | ||||||||||||||||||||||||||||||||||||||||||||
* Management expects the line of credit will be extended after September 27, 2014. | ||||||||||||||||||||||||||||||||||||||||||||||
As of the date of this report, the Company utilized $182.5 million of these lines of credit. | ||||||||||||||||||||||||||||||||||||||||||||||
As of the date of this report, the Company utilized $61.9 million of these lines of credit. | ||||||||||||||||||||||||||||||||||||||||||||||
Vendor financing | ||||||||||||||||||||||||||||||||||||||||||||||
Vendor financing | ||||||||||||||||||||||||||||||||||||||||||||||
Longmen Joint Venture signed additional vendor financing agreements, which will provide liquidity to the Company in a total amount of $818.5 million with the following companies: | ||||||||||||||||||||||||||||||||||||||||||||||
Longmen Joint Venture signed additional vendor financing agreements, which will provide liquidity to the Company in a total amount of $815.0 million with the following companies: | ||||||||||||||||||||||||||||||||||||||||||||||
Company | Financing period covered | Financing Amount | ||||||||||||||||||||||||||||||||||||||||||||
Company | Financing period covered | Financing Amount | (in millions) | |||||||||||||||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||||||||||||||||
Company A – related party | July 1, 2013 – June 30, 2015 | $ | 163.7 | |||||||||||||||||||||||||||||||||||||||||||
Company A – related party | January 6, 2013 – January 5, 2015 | $ | 163 | Company B – third party | January 22, 2014 – January 22, 2017 | 163.7 | ||||||||||||||||||||||||||||||||||||||||
Company B – third party | January 6, 2013 – November 7, 2015 | 163 | Company C – third party | October 1, 2013 – March 31, 2015 | 491.1 | |||||||||||||||||||||||||||||||||||||||||
Company C – third party | October 1, 2013 – March 31, 2015 | 489 | Total | $ | 818.5 | |||||||||||||||||||||||||||||||||||||||||
Total | $ | 815 | ||||||||||||||||||||||||||||||||||||||||||||
Company A, a related party company and Company B, a third party company, are both Longmen Joint Venture’s major coke suppliers. They have been doing business with Longmen Joint Venture for years. On January 6, 2013, Company A signed a two-year agreement with Longmen Joint Venture to finance its coke purchase up to $81.9 million. On July 1, 2013, Company A agreed to increase the financing amount to $163.7 million and extend the financing period to June 30, 2015. Company B Signed a two-year agreement with Longmen Joint Venture on November 7, 2013 to finance its coke purchase up to $163.7 million and agreed to extend the financing period for another three years effective on January 22, 2014. According to the above signed agreements, both Company A and B will not demand any cash payments during their respective financing periods. As of the date of this report, our payables to Company A and Company B were approximately $54.4 million and $51.8 million, respectively. | ||||||||||||||||||||||||||||||||||||||||||||||
Company A, a related party company and Company B, a third party company, are both Longmen Joint Venture’s major coke suppliers. They have been doing business with Longmen Joint Venture for years. Each company has signed a two-year agreement with Longmen Joint Venture which was effective on January 6, 2013 to finance Longmen Joint Venture for its coke purchase for a two-year period. Company B signed an additional two-year agreement with Longmen Joint Venture effective on November 7, 2013. According to the above signed agreement, both Company A and B will not demand any cash payments for next two years. As of the date of this report, our payables to Company A and Company B were approximately $64.3 million and $51.9 million, respectively. | ||||||||||||||||||||||||||||||||||||||||||||||
Company C is a Fortune 500 Company. On June 28, 2013, Company C signed an agreement with Longmen Joint Venture to finance Longmen Joint Venture’s purchase of iron ore for an amount up to $491.1 million to commence on October 1, 2013 and end on March 31, 2015. Subject to the terms of the agreement, Longmen Joint Venture is subject to a penalty of 0.05% of the daily outstanding balance owed to Company C in an event of late payment. As of the date of this report, our payable to Company C is approximately $2.0 million. | ||||||||||||||||||||||||||||||||||||||||||||||
As a critical business stakeholder to the Company’s Tianwu Joint Venture, Company C is a Fortune 500 Company. In October 2012, Company C signed a one year agreement with Longmen Joint Venture to finance Longmen Joint Venture’s purchase of iron ore for an amount up to $158.3 million to commence on October 1, 2012. In June 2013, Company C signed another one year agreement with Longmen Joint Venture to finance Longmen Joint Venture’s purchase of iron ore for an amount up to $318.4 million to commence on October 1, 2013. According to the agreement, Company C agrees to provide an amount not less than $318.4 million in iron ore to Longmen Joint Venture. Subject to the terms of the agreement, Longmen Joint Venture is subject to a penalty of 0.05% of the daily outstanding balance owed to Company C in an event of late payment. The agreement also helps secure Company C’s iron ore sales to Longmen Joint Venture. On June 28, 2013, Company C agreed to increase the finance amount limit to $489.0 million and extended the financing period to March 31, 2015. As of the date of this report, our payable to Company C is approximately $1.2 million. | ||||||||||||||||||||||||||||||||||||||||||||||
Other financing | ||||||||||||||||||||||||||||||||||||||||||||||
Financing sales | ||||||||||||||||||||||||||||||||||||||||||||||
On February 20, 2014 and March 5, 2014, Longmen Joint Venture signed a payment extension agreement with each company listed below. In total, Longmen Joint Venture can get $217.7 million in financial support from two-year and three-year balancing payment extensions granted by the following five companies: | ||||||||||||||||||||||||||||||||||||||||||||||
As part of our working capital management, Longmen Joint Venture has entered into an additional financing sales agreement with a third party company, Company D and two 100% owned subsidiaries of Longmen Joint Venture, named Yuxin Trading Co., Ltd. (“Yuxin”) and Yuteng Trading Co., Ltd. (“Yuteng”) (“financing sales”) to provide liquidity to the Company in the total amount of $81.5 million. See Note 10 for financing sales details. | ||||||||||||||||||||||||||||||||||||||||||||||
Company | Financing period covered | Financing Amount | ||||||||||||||||||||||||||||||||||||||||||||
Based on the contract terms, from December 31, 2012 until the earlier of the expiration date of the contract or December 31, 2013, the advance payment balance from Company D cannot be less than $81.5 million. The contract has been extended to December 31, 2014. The remaining financing sales balance can be paid by installment based on Longmen Joint Venture’s goods delivery volume. As of the date of this report, our payable to Company D is approximately $24.5 million. | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||
Other financing | Company D – related party | February 20, 2014 – February 20, 2017 | $ | 32.7 | ||||||||||||||||||||||||||||||||||||||||||
Company E – related party | February 20, 2014 – February 20, 2017 | 37.7 | ||||||||||||||||||||||||||||||||||||||||||||
On January 7, 2013, November 6, 2013 and November 7, 2013, Longmen Joint Venture signed a payment extension agreement with each company listed below. In total, Longmen Joint Venture can get $77.4 million in financial support from a two-year balancing payment extension granted by the following five companies: | Company F – related party | February 20, 2014 – February 20, 2017 | 32.7 | |||||||||||||||||||||||||||||||||||||||||||
Company G – related party | March 5, 2014 – March 5, 2016 | 57.3 | ||||||||||||||||||||||||||||||||||||||||||||
Company | Financing period covered | Financing Amount | Company H – related party | March 5, 2014 – March 5, 2016 | 57.3 | |||||||||||||||||||||||||||||||||||||||||
(in millions) | Total | $ | 217.7 | |||||||||||||||||||||||||||||||||||||||||||
Company E – related party | January 7, 2013 – January 6, 2015 | $ | 16.3 | According to the contract terms, Company D, Company E, Company F, Company G and Company H have agreed to grant payment extensions in the amounts of $32.7 million, $37.7 million, $32.7 million, $57.3 million and $57.3 million respectively. As of the date of this report, our payables to Company D, Company E, Company F, Company G and Company H are approximately $16.4 million, $26.6 million, $17.1 million, $49.1 million and $49.9, respectively. | ||||||||||||||||||||||||||||||||||||||||||
Company F – related party | January 7, 2013 – January 6, 2015 | 21.2 | ||||||||||||||||||||||||||||||||||||||||||||
Company G – related party | January 7, 2013 – January 6, 2015 | 7.3 | Amount due to sales representatives | |||||||||||||||||||||||||||||||||||||||||||
Company H – related party | November 7, 2013 – November 7, 2015 | 16.3 | ||||||||||||||||||||||||||||||||||||||||||||
Company I – related party | November 6, 2013 – November 6, 2015 | 16.3 | Longmen Joint Venture entered into agreements with various entities to act as the Company’s exclusive sales agents in specified geographic areas. These exclusive sales agents must meet certain criteria and are required to deposit a certain amount of money with the Company. In return, the sales agents receive exclusive sales rights in a specified area and discounted prices on products they order. These deposits bear no interest and are required to be returned to the sales agent once the agreement is terminated. As of December 31, 2013, Longmen Joint Venture has collected a total amount of $26.3 million. Historically, this amount is quite stable and we do not expect a big fluctuation in this amount for the next twelve months from December 31, 2013 onwards. | |||||||||||||||||||||||||||||||||||||||||||
Total | $ | 77.4 | ||||||||||||||||||||||||||||||||||||||||||||
With the financial support from the banks and the companies above, management is of the opinion that the Company has sufficient funds to meet its future operations, working capital requirements and debt obligations until the end of December 31, 2014. The detailed breakdown of Longmen Joint Venture’s estimated cash flows items are listed below. | ||||||||||||||||||||||||||||||||||||||||||||||
According to the contract terms, Company E, Company F, Company G, Company H and Company I have agreed to grant a two year payment extension in the amounts of $16.3 million, $21.2 million, $7.3 million, $16.3 million and $16.3 million respectively. As of the date of this report, our payables to Company E, Company F, Company G, Company H and Company I are approximately $17.9 million, $14.0 million, $18.9 million, $7.5 million and $0, respectively. | ||||||||||||||||||||||||||||||||||||||||||||||
Cash inflow (outflow) | ||||||||||||||||||||||||||||||||||||||||||||||
Amount due to sales representatives | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||
For the twelve months | ||||||||||||||||||||||||||||||||||||||||||||||
Longmen Joint Venture entered into agreements with various entities to act as the Company’s exclusive sales agents in specified geographic areas. These exclusive sales agents must meet certain criteria and are required to deposit a certain amount of money with the Company. In return, the sales agents receive exclusive sales rights in a specified area and discounted prices on products they order. These deposits bear no interest and are required to be returned to the sales agent once the agreement is terminated. As of September 30, 2013, Longmen Joint Venture has collected a total amount of $30.0 million. Historically, this amount is quite stable and we do not expect a big fluctuation in this amount for the next twelve months from September 30, 2013 onwards. | ended December 31, | |||||||||||||||||||||||||||||||||||||||||||||
2014 | ||||||||||||||||||||||||||||||||||||||||||||||
With the financial support from the banks and the companies above, management is of the opinion that the Company has sufficient funds to meet its future operations, working capital requirements and debt obligations until the end of September 30, 2014. The detailed breakdown of Longmen Joint Venture’s estimated cash flows items are listed below. | Current liabilities over current assets (excluding non-cash items) as of December 31, 2013 | $ | -1,179.20 | |||||||||||||||||||||||||||||||||||||||||||
Projected cash financing and outflows: | ||||||||||||||||||||||||||||||||||||||||||||||
Cash provided by line of credit from banks | 230.7 | |||||||||||||||||||||||||||||||||||||||||||||
Cash inflow (outflow) | Cash provided by vendor financing | 818.5 | ||||||||||||||||||||||||||||||||||||||||||||
(in millions) | Cash provided by other financing | 217.7 | ||||||||||||||||||||||||||||||||||||||||||||
For the twelve months ended | Cash provided by sales representatives | 26.3 | ||||||||||||||||||||||||||||||||||||||||||||
September 30, 2014 | Cash projected to be used in operations in the twelve months ended December 31, 2014 | -35.4 | ||||||||||||||||||||||||||||||||||||||||||||
Current liabilities over current assets (excluding non-cash items) as of September 30, 2013 (unaudited) | $ | -1,072.00 | Cash projected to be used for financing cost in the twelve months ended December 31, 2014 | -55.2 | ||||||||||||||||||||||||||||||||||||||||||
Projected cash financing and outflows: | Net projected change in cash for the twelve months ended December 31, 2014 | $ | 23.4 | |||||||||||||||||||||||||||||||||||||||||||
Cash provided by line of credit from banks | 110.8 | |||||||||||||||||||||||||||||||||||||||||||||
Cash provided by vendor financing | 815 | As a result, the consolidated financial statements for the year ended December 31, 2013 have been prepared on a going concern basis. | ||||||||||||||||||||||||||||||||||||||||||||
Cash provided by financing sales | 81.5 | |||||||||||||||||||||||||||||||||||||||||||||
Cash provided by other financing | 77.4 | |||||||||||||||||||||||||||||||||||||||||||||
Cash provided by sales representatives | 30 | |||||||||||||||||||||||||||||||||||||||||||||
Cash projected to be used in operations in the twelve months ended September 30, 2014 | -28.6 | |||||||||||||||||||||||||||||||||||||||||||||
Net projected change in cash for the twelve months ended September 30, 2014 | $ | 14.1 | ||||||||||||||||||||||||||||||||||||||||||||
As a result, the unaudited condensed consolidated financial statements for the period ended September 30, 2013 have been prepared on a going concern basis. | ||||||||||||||||||||||||||||||||||||||||||||||
Use of Estimates, Policy [Policy Text Block] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||
(e) | Use of estimates | (e) | Use of estimates | |||||||||||||||||||||||||||||||||||||||||||
The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the accompanying unaudited condensed consolidated financial statements and footnotes. Significant accounting estimates reflected in the Company’s unaudited condensed consolidated financial statements include the fair value of the profit sharing liability, the useful lives of and impairment for property, plant and equipment, and potential losses on uncollectible receivables, allowance for inventory valuation, the interest rate used in the financing sales, the fair value of the assets recorded under capital lease and the present value of the net minimum lease payments of the capital lease. Actual results could differ from these estimates. | The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the accompanying consolidated financial statements and footnotes. Significant accounting estimates reflected in the Company’s consolidated financial statements include the fair value of the profit sharing liability, the useful lives of and impairment for property, plant and equipment, and potential losses on uncollectible receivables, allowance for inventory valuation, the interest rate used in the financing sales, the fair value of the assets recorded under capital lease and the present value of the net minimum lease payments of the capital lease. Actual results could differ from these estimates. | |||||||||||||||||||||||||||||||||||||||||||||
Concentration Risk, Credit Risk, Policy [Policy Text Block] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||
(f) | Concentration of risks and uncertainties | (f) | Concentration of risks and uncertainties | |||||||||||||||||||||||||||||||||||||||||||
The Company’s operations are carried out in the PRC. Accordingly, the Company’s business, financial condition and results of operations may be influenced by the political, economic and legal environment in the PRC, and by the general state of the PRC’s economy. The Company’s operations in the PRC are subject to specific considerations and significant risks not typically associated with companies in North America and Western Europe. The Company’s results may be adversely affected by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, currency conversion and remittance abroad, and rates and methods of taxation, among other things. | The Company’s operations are carried out in the PRC. Accordingly, the Company’s business, financial condition and results of operations may be influenced by the political, economic and legal environment in the PRC, and by the general state of the PRC’s economy. The Company’s operations in the PRC are subject to specific considerations and significant risks not typically associated with companies in North America and Western Europe. The Company’s results may be adversely affected by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, currency conversion and remittance abroad, and rates and methods of taxation, among other things. | |||||||||||||||||||||||||||||||||||||||||||||
The Company has significant exposure to the fluctuation of raw materials and energy prices as part of its normal operations. As of September 30, 2013, June 30, 2013, March 31, 2013, December 31, 2012, September 30, 2012, June 30, 2012, March 31, 2012, December 31, 2011, September 30, 2011, June 30, 2011 and December 31, 2010, the Company does not have any open commodity contracts to mitigate such risks. | The Company has significant exposure to the fluctuation of raw materials and energy prices as part of its normal operations. As of December 31, 2013, 2012, 2011 and 2010, the Company does not have any open commodity contracts to mitigate such risks. | |||||||||||||||||||||||||||||||||||||||||||||
Cash includes demand deposits in accounts maintained with banks within the PRC, Hong Kong and the United States. Total cash (including restricted cash balances) in these banks on September 30, 2013, June 30, 2013, March 31, 2013, December 31, 2012, September 30, 2012, June 30, 2012, March 31, 2012, December 31, 2011, September 30, 2011, June 30, 2011 and December 31, 2010 amounted to $467.9 million, $448.5 million, $336.0 million, $369.9 million, $519.9 million, $465.8 million, $540.0 million, $518.2 million, $282.4 million, $261.8 million and $263.1 million, including $3.1 million, $9.5 million, $9.5 million and $2.3 million that were deposited in Shaanxi Coal and Chemical Industry Group Financial Co., Ltd., a related party as of September 30, 2013, June 30, 2013, March 31, 2013 and December 31, 2012, respectively. As of September 30, 2013, $0.2 million cash in the bank was covered by insurance. The Company has not experienced any losses in other bank accounts and believes it is not exposed to any risks on its cash in bank accounts. | Cash includes demand deposits in accounts maintained with banks within the PRC, Hong Kong and the United States. Total cash (including restricted cash balances) in these banks on December 31, 2013, 2012, 2011 and 2010 amounted to $431.3 million, $369.9 million, $518.2 million and $263.1 million, including $2.0 million, $2.3 million, $0 and $0 that were deposited in Shaanxi Coal and Chemical Industry Group Financial Co., Ltd., a related party, respectively. As of December 31, 2013, $0.1 million cash in the bank was covered by insurance. The Company has not experienced any losses in other bank accounts and believes it is not exposed to any risks on its cash in bank accounts. | |||||||||||||||||||||||||||||||||||||||||||||
The Company’s five major customers are all distributors and collectively represented approximately 25.5% and 23.4% of the Company’s total sales for the three and nine months ended September 30, 2013, respectively. The Company had five major customers, which represented approximately 27.2% and 34.1% of the Company’s total sales for the three months and nine months ended September 30, 2012, respectively. The Company’s five major customers are all distributors and collectively represented approximately 20.4% and 30.7% of the Company’s total sales for the three months and nine months ended September 30, 2011, respectively. The company had five major customers, which represented approximately 29.2% and 28.5% of the company’s total sales for the three and nine months ended September 30, 2010, respectively. The Company's five major customers are all distributors and collectively represented approximately 27.8% and 23.3% of the Company's total sales for the three and six months ended June 30, 2013, respectively. The Company had five major customers, which represented approximately 34.7% and 36.8% of the Company's total sales for the three months and six months ended June 30, 2012, respectively. The Company had five major customers, which represented approximately 40.6% and 36.5% of the Company’s total sales for the three and six months ended June 30, 2011, respectively. The Company had five major customers, which represented approximately 24.5% and 27.3% of the Company’s total sales for the three months and six months ended June 30, 2010, respectively. The Company’s five major customers are all distributors and collectively represented approximately 20.4%, 45.0% and 32.3% of the Company’s total sales for the three months ended March 31, 2013, 2012 and 2011, respectively. These five major customers accounted for 15.9%, 0%, 0%, 47.8%, 32.0%, 76.3%, 48.9%, 27.2%, 15.6%, 0% and 0% of total accounts receivable, including related parties, as of September 30, 2013, June 30, 2013, March 31, 2013, December 31, 2012, September 30, 2012, June 30, 2012, March 31, 2012, December 31, 2011, September 30, 2011, June 30, 2011 and December 31, 2010, respectively. One of the five major customers accounted for more than 10% of total accounts receivable as of September 30, 2013, December 31, 2012, September 30, 2012, March 31, 2012, December 31, 2011, September 30, 2011, June 30, 2011 and December 31, 2010, respectively. Two of the five major customers accounted for more than 10% of total accounts receivable as of June 30, 2012. None of the five major customers accounted for more than 10% of total accounts receivable as of June 30, 2013 and March 31 2013 | The Company’s five major customers are all distributors and collectively represented approximately 22.1%, 26.7%, 27.1% and 28.6% of the Company’s total sales for the years ended December 31, 2013, 2012, 2011 and 2010, respectively. None of the five major customers accounted for more than 10% of total sales for the year ended December 31, 2013, 2012, 2011 and 2010, respectively. These five major customers accounted for 0%, 47.8%, 27.2% and 0% of total accounts receivable, including related parties, as of December 31, 2013, 2012, 2011 and 2010, respectively. None of the five major customers accounted for more than 10% of total accounts receivable as of December 31, 2013. One of the five major customers accounted for more than 10% of total accounts receivable as of December 31, 2012, 2011 and 2010. | |||||||||||||||||||||||||||||||||||||||||||||
For the three and nine months ended September 30, 2013, the Company purchased approximately 15.3% and 29.3% of its raw materials from five major suppliers, respectively. None of the five major suppliers individually accounted for more than 10% of the total purchases for the three and nine months ended September 30, 2013. The purchases from the five major suppliers represent approximately 25.4% and 39.6% of the Company’s total purchases for the three months and nine months ended September 30, 2012, respectively. For the three months and nine months ended September 30, 2011, the Company purchased approximately 49.0% and 44.8% of its raw materials from five major suppliers, respectively. Two of the five major suppliers individually accounted for more than 10% of the total purchase for the three and nine months ended September 30, 2011. The purchase from the five major suppliers represents approximately 40.2% and 45.6% of the company’s total purchase for the three months and nine months ended September 30, 2010, respectively, of which two of the five vendors account individually more than 10% of the total purchase. Two of the five major suppliers individually accounted for more than 10% of the total purchases for the nine months ended September 30, 2012. For the three and six months ended June 30, 2013, the Company purchased approximately 45.0% and 38.4% of its raw materials from five major suppliers, respectively. Two of the five major suppliers individually accounted for more than 10% of the total purchases for the three months ended June 30, 2013 and one of the five major suppliers individually accounted for more than 10% of the total purchases for the six months ended June 30, 2013. The purchases from the five major suppliers represent approximately 37.9% and 48.3% of the Company's total purchases for the three months and six months ended June 30, 2012, respectively. Two of the five major suppliers individually accounted for more than 10% of the total purchases for the six months ended June 30, 2012. The purchases from the five major suppliers represent approximately 29.6% and 41.6% of the Company’s total purchases for the three months and six months ended June 30, 2011, respectively. Two of the five major suppliers individually accounted for more than 10% of the total purchases for the six months ended June 30, 2011. The purchases from the five major suppliers represent approximately 47.2% and 48.5% of the company’s total purchases for the three months and six months ended June 30, 2010, respectively. For the three months ended March 31, 2013, 2012 and 2011, the Company purchased approximately 32.6%, 65.3% and 60.3% of its raw materials from five major suppliers, respectively. These five vendors accounted for 28.9%, 32.7%, 30.2%, 33.8%, 26.8%, 16.7%, 26.0%, 16.9%, 9.8%, 26.5% and 23.1% of total accounts payable, including related parties, as of September 30, 2013, June 30, 2013, March 31, 2013, December 31, 2013, September 30, 2012, June 30, 2012, March 31, 2012, December 31, 2012, September 30, 2011, June 30, 2011 and December 31, 2010, respectively. None of the five major suppliers individually accounted for more than 10% of total accounts payable as September 30, 2013, June 30, 2013, September 30, 2012, June 30, 2012, December 31, 2011, September 30, 2011, December 31, 2010 and one of the five major suppliers individually accounted for more than 10% of total accounts payable as March 31, 2013, December 31, 2012, March 31, 2012. | For the years ended December 31, 2013, 2012, 2011 and 2010, the Company purchased approximately 40.2%, 38.9%, 48.6% and 48.0% of its raw materials from five major suppliers, respectively. One of the five major suppliers individually accounted for more than 10% of the total purchases for the year ended December 31, 2013 and none of the five major suppliers individually accounted for more than 10% of the total purchases for the year ended December 31, 2012, 2011 and 2010. These five vendors accounted for 29.1%, 33.8%, 16.9%, and 28.3% of total accounts payable, including related parties, as of December 31, 2013, 2012, 2011 and 2010, respectively. None of the five major suppliers individually accounted for more than 10% of total accounts payable as December 31, 2013, 2011 and 2010 while one of the five major suppliers individually accounted for more than 10% of total accounts payable as December 31, 2012. | |||||||||||||||||||||||||||||||||||||||||||||
Revenue Recognition, Policy [Policy Text Block] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||
(g) | Revenue recognition | |||||||||||||||||||||||||||||||||||||||||||||
Sales is recognized at the date of shipment to customers when a formal arrangement exists, the price is fixed or determinable, the delivery is completed, the Company has no other significant obligations and collectability is reasonably assured. Payments received before all of the relevant criteria for revenue recognition are recorded as customer deposits. Sales represent the invoiced value of goods, net of value-added tax (VAT). All of the Company’s products sold in the PRC are subject to a Chinese value-added tax at a rate of 13% or 17% of the gross sales price. This VAT may be offset by VAT paid by the Company on raw materials and other materials included in the cost of producing the finished product. | ||||||||||||||||||||||||||||||||||||||||||||||
Foreign Currency Transactions and Translations Policy [Policy Text Block] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||
(g) | Foreign currency translation and other comprehensive income | (h) | Foreign currency translation and other comprehensive income | |||||||||||||||||||||||||||||||||||||||||||
The reporting currency of the Company is the U.S. dollar. The Company’s subsidiaries in China use the local currency, Renminbi (RMB), as their functional currency. Assets and liabilities are translated at the unified exchange rate as quoted by the People’s Bank of China at the end of the period. The statement of operations accounts are translated at the average translation rates and the equity accounts are translated at historical rates. Translation adjustments resulting from this process are included in accumulated other comprehensive income in the statement of equity. Transaction gains and losses that arise from exchange rate fluctuations on transactions denominated in a currency other than the functional currency are included in the results of operations as incurred. | The reporting currency of the Company is the U.S. dollar. The Company’s subsidiaries and VIE in China use the local currency, Renminbi (RMB), as their functional currency. Assets and liabilities are translated at the unified exchange rate as quoted by the People’s Bank of China at the end of the period. The statement of operations accounts are translated at the average translation rates and the equity accounts are translated at historical rates. Translation adjustments resulting from this process are included in accumulated other comprehensive income in the statement of equity. Transaction gains and losses that arise from exchange rate fluctuations on transactions denominated in a currency other than the functional currency are included in the results of operations as incurred. | |||||||||||||||||||||||||||||||||||||||||||||
Translation adjustments included in accumulated other comprehensive income amounted to $2.5 million, $4.2 million, $8.6 million, $10.2 million, $10.0 million, $10.0 million, $8.8 million, $10.2 million, $13.1 million, $11.2 million and $11.0 million as of September 30, 2013, June 30, 2013, March 31, 2013, December 31, 2012, September 30, 2012, June 30, 2012, March 31, 2012, December 31, 2011, September 30, 2011, June 30, 2011 and December 31, 2010, respectively. The balance sheet amounts, with the exception of equity at September 30, 2013, June 30, 2013, March 31, 2013, December 31, 2012, September 30, 2012, June 30, 2012, March 31, 2012, December 31, 2011, September 30, 2011, June 30, 2011 and December 31, 2010 were translated at 6.13 RMB, 6.17 RMB, 6.27 RMB, 6.30 RMB, 6.32 RMB, 6.31 RMB, 6.31 RMB, 6.37 RMB, 6.39 RMB, 6.46 RMB and 6.59 RMB to $1.00, respectively. The equity accounts were stated at their historical rate. The average translation rates applied to statement of operations accounts for the three months ended September 30, 2013, 2012, 2011 and 2010 were 6.16 RMB, 6.33 RMB, 6.41 RMB and 6.77 RMB, respectively. The average translation rates applied to statement of operations accounts for the nine months ended September 30, 2013, 2012, 2011 and 2010 were 6.21 RMB, 6.31 RMB, 6.49 RMB and 6.80 RMB, respectively. The average translation rates applied to statement of operations accounts for the three months ended June 30, 2013, 2012, 2011 and 2010 6.20 RMB, 6.32 RMB, 6.51 RMB and 6.84 RMB, respectively. The average translation rates applied to statement of operations accounts for the six months ended June 30, 2013, 2012, 2011 and 2010 were 6.24 RMB, 6.30 RMB, 6.55 RMB and 6.82 RMB, respectively. The average translation rates applied to statement of operations accounts for the three months ended March 30, 2013, 2012 and 2011 were 6.28 RMB, 6.30 RMB and 6.59 RMB, respectively. Cash flows are also translated at average translation rates for the periods, therefore, amounts reported on the statement of cash flows will not necessarily agree with changes in the corresponding balances on the consolidated balance sheet. | Translation adjustments included in accumulated other comprehensive income amounted to $0.7 million, $10.2 million, $10.2 million and $11.0 million as of December 31, 2013, 2012, 2011 and 2010, respectively. The balance sheet amounts, with the exception of equity at December 31, 2013, 2012, 2011 and 2010 were translated at 6.11 RMB, 6.30 RMB, 6.37 RMB and 6.59 RMB to $1.00, respectively. The equity accounts were stated at their historical rate. The average translation rates applied to statement of operations accounts for the years ended December 31, 2013, 2012, 2011 and 2010 were 6.19 RMB, 6.30 RMB, 6.47 RMB and 6.76 RMB, respectively. Cash flows are also translated at average translation rates for the periods, therefore, amounts reported on the statement of cash flows will not necessarily agree with changes in the corresponding balances on the consolidated balance sheet. | |||||||||||||||||||||||||||||||||||||||||||||
The PRC government imposes significant exchange restrictions on fund transfers out of the PRC that are not related to business operations. These restrictions have not had a material impact on the Company because it has not engaged in any significant transactions that are subject to the restrictions. | The PRC government imposes significant exchange restrictions on fund transfers out of the PRC that are not related to business operations. These restrictions have not had a material impact on the Company because it has not engaged in any significant transactions that are subject to the restrictions. | |||||||||||||||||||||||||||||||||||||||||||||
Fair Value of Financial Instruments, Policy [Policy Text Block] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||
(h) | (i) | Financial instruments (restated) | ||||||||||||||||||||||||||||||||||||||||||||
Financial instruments (restated) | ||||||||||||||||||||||||||||||||||||||||||||||
The accounting standards regarding fair value of financial instruments and related fair value measurements defines financial instruments and requires disclosure of the fair value of financial instruments held by the Company. The Company considers the carrying amount of cash, short term investment, accounts receivable, other receivables, accounts payable and accrued liabilities, to approximate their fair values because of the short period of time between the origination of such instruments and their expected realization. For short term loans and notes payable, the Company concluded the carrying values are a reasonable estimate of fair values because of the short period of time between the origination and repayment and as their stated interest rates approximate current rates available. The carrying value of the long term loans-related party approximates its fair value as of the reporting date as their stated interest rates approximate current rates available. | ||||||||||||||||||||||||||||||||||||||||||||||
The accounting standards regarding fair value of financial instruments and related fair value measurements defines financial instruments and requires disclosure of the fair value of financial instruments held by the Company. The Company considers the carrying amount of cash, short term investment, accounts receivable, other receivables, accounts payable and accrued liabilities, to approximate their fair values because of the short period of time between the origination of such instruments and their expected realization. For short term loans and notes payable, the Company concluded the carrying values are a reasonable estimate of fair values because of the short period of time between the origination and repayment and as their stated interest rates approximate current rates available. The carrying value of the long term loans-related party approximates its fair value as of the reporting date as their stated interest rates approximate current rates available. | ||||||||||||||||||||||||||||||||||||||||||||||
The accounting standards define fair value, establish a three-level valuation hierarchy for disclosures of fair value measurement and enhance disclosure requirements for fair value measures. The three levels are defined as follow: | ||||||||||||||||||||||||||||||||||||||||||||||
The accounting standards define fair value, establish a three-level valuation hierarchy for disclosures of fair value measurement and enhance disclosure requirements for fair value measures. The three levels are defined as follow: | ||||||||||||||||||||||||||||||||||||||||||||||
· | Level 1 inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. | |||||||||||||||||||||||||||||||||||||||||||||
· | Level 1 inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. | · | Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the assets or liability, either directly or indirectly, for substantially the full term of the financial instruments. | |||||||||||||||||||||||||||||||||||||||||||
· | Level 3 inputs to the valuation methodology are unobservable and significant to the fair value. | |||||||||||||||||||||||||||||||||||||||||||||
· | Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the assets or liability, either directly or indirectly, for substantially the full term of the financial instruments. | |||||||||||||||||||||||||||||||||||||||||||||
The Company analyzes all financial instruments with features of both liabilities and equity, pursuant to which previously issued by the Company warrants were required to be recorded as a liability at fair value and marked to market each reporting period. The warrants were accounted for as derivative liabilities and recorded at their fair value, with the change in fair value charged or credited to income each period. The warrants expired unexercised on May 13, 2013. Prior to their expiration, the fair value of the warrants was estimated using a binomial lattice model, using level 3 inputs. See Note 13 – “Convertible notes and derivative liabilities” for the variables used in the Cox Rubenstein Binomial model. | ||||||||||||||||||||||||||||||||||||||||||||||
· | Level 3 inputs to the valuation methodology are unobservable and significant to the fair value. | |||||||||||||||||||||||||||||||||||||||||||||
Payments related to the capital lease of the Asset Pool consist of two components: (1) a fixed monthly payment of $2.3 million (RMB 14.6 million), based on Shaanxi Steel’s cost to construct the assets, to be paid for the 20 year term of the Unified Management Agreement; and (2) 40% of any remaining pre-tax profits from the Asset Pool, which includes Longmen Joint Venture and the constructed iron and steel making facilities. The aforementioned profit sharing component meets the definition of a derivative instrument under ASC 815-10-15-83 and, accordingly, the profit sharing liability is accounted for separately as a derivative liability. It was recognized initially at its estimated fair value at inception. The estimated fair value is adjusted each reporting period, with changes in the estimated fair value of the profit sharing liability charged or credited to income each period. | ||||||||||||||||||||||||||||||||||||||||||||||
The Company analyzes all financial instruments with features of both liabilities and equity, pursuant to which the Company’s warrants were required to be recorded as a liability at fair value and marked to market each reporting period. The warrants were accounted for as derivative liabilities and recorded at their fair value, with the change in fair value charged or credited to income each period. The warrants expired unexercised on May 13, 2013. Prior to their expiration, the fair value of the warrants was estimated using a binomial lattice model, using level 3 inputs. See Note 13 – “Convertible notes and derivative liabilities” for the variables used in the Cox Rubenstein Binomial model. | ||||||||||||||||||||||||||||||||||||||||||||||
The Company determines the fair value of the profit sharing liability using Level 3 inputs by considering the present value of Longmen Joint Venture’s projected profits/losses, discounted based on our average borrowing rate, which is currently 7.3%. | ||||||||||||||||||||||||||||||||||||||||||||||
Payments related to the capital lease of the Asset Pool consist of two components: (1) a fixed monthly payment of $2.3 million (RMB 14.6 million), based on Shaanxi Steel’s cost to construct the assets, to be paid for the 20 year term of the Unified Management Agreement; and (2) 40% of any remaining pre-tax profits from the Asset Pool, which includes Longmen Joint Venture and the constructed iron and steel making facilities. The aforementioned profit sharing component meets the definition of a derivative instrument under ASC 815-10-15-83 and, accordingly, the profit sharing liability is accounted for separately as a derivative liability. It was recognized initially at its estimated fair value at inception. The estimated fair value is adjusted each reporting period, with changes in the estimated fair value of the profit sharing liability charged or credited to income each period. | ||||||||||||||||||||||||||||||||||||||||||||||
The fair value of the profit sharing liability will change each period as a result of (a) any changes in our estimate of Longmen Joint Venture’s projected profits/losses over the remaining term of the Agreement, (b) any change in the discount rate used, based on changes in our current or expected borrowing rate, (c) the change in fair value related to the passage of time and change in the number of future periods over which the present value of future cash flows is estimated and (d) any difference between the previously estimated operating results for the current period and actual results. | ||||||||||||||||||||||||||||||||||||||||||||||
The Company determines the fair value of the profit sharing liability using Level 3 inputs by considering the present value of Longmen Joint Venture’s projected profits/losses, discounted based on our average borrowing rate, which is currently 7.3%. | ||||||||||||||||||||||||||||||||||||||||||||||
Each period, the Company considers whether the discount rate based on the Company’s average borrowing rate should be adjusted based upon the current and expected future financial condition of the Company. To date, the Company has not considered any adjustment to be necessary based upon, but not limited to, the following assumptions: | ||||||||||||||||||||||||||||||||||||||||||||||
The fair value of the profit sharing liability will change each period as a result of (a) any changes in our estimate of Longmen Joint Venture’s projected profits/losses over the remaining term of the Agreement, (b) any change in the discount rate used, based on changes in our current or expected borrowing rate, (c) interest expense each period, reflecting the reversal of a portion of the present value discount and (d) any difference between the previously estimated operating results for the current period and actual results. | ||||||||||||||||||||||||||||||||||||||||||||||
· | because the joint venture partner of Longmen Joint Venture is a state-owned enterprise with an excellent credit history, PRC banks grant similar credit treatment to Longmen Joint Venture in terms of credit availability | |||||||||||||||||||||||||||||||||||||||||||||
Each period, the Company considers whether the discount rate based on the Company’s average borrowing rate should be adjusted based upon the current and expected future financial condition of the Company. To date, the Company has not considered any adjustment to be necessary based upon, but not limited to, the following assumptions: | · | the current average borrowing rate of enterprises in the steel industry in the PRC is similar to this borrowing rate | ||||||||||||||||||||||||||||||||||||||||||||
· | because the joint venture partner of Longmen Joint Venture is a state-owned enterprise with an excellent credit history, PRC banks grant similar credit treatment to Longmen Joint Venture in terms of credit availability | · | the current new/renewal borrowing rates of the Company’s bank loans are similar to prior periods | |||||||||||||||||||||||||||||||||||||||||||
· | the current average borrowing rate of enterprises in the steel industry in the PRC is similar to this borrowing rate | |||||||||||||||||||||||||||||||||||||||||||||
· | the current new/renewal borrowing rates of the Company’s bank loans are similar to prior periods | · | the People’s Bank of China has not recently adjusted any borrowing rate | |||||||||||||||||||||||||||||||||||||||||||
· | the People’s Bank of China has not recently adjusted any borrowing rate | |||||||||||||||||||||||||||||||||||||||||||||
· | PRC bank interest rates are not industry specific. The downtrend in the steel industry did not materially impact the bank borrowing rates for steel companies | · | PRC bank interest rates are not industry specific. The downtrend in the steel industry did not materially impact the bank borrowing rates for steel companies | |||||||||||||||||||||||||||||||||||||||||||
· | the bank interest rates are assessed by each individual bank and governed by the Chinese banking regulatory bodies. Reports from credit rating research firms are not commonly used by PRC banks | |||||||||||||||||||||||||||||||||||||||||||||
· | the bank interest rates are assessed by each individual bank and governed by the Chinese banking regulatory bodies. Reports from credit rating research firms are not commonly used by PRC banks | |||||||||||||||||||||||||||||||||||||||||||||
The projected profits/losses in Longmen Joint Venture were based upon, but not limited to, the following assumptions: | ||||||||||||||||||||||||||||||||||||||||||||||
The projected profits/losses in Longmen Joint Venture were based upon, but not limited to, the following assumptions: | ||||||||||||||||||||||||||||||||||||||||||||||
· | projected selling units and growth in the steel market | |||||||||||||||||||||||||||||||||||||||||||||
· | projected unit selling price in the steel market | · | projected selling units and growth in the steel market | |||||||||||||||||||||||||||||||||||||||||||
· | projected unit purchase cost in the coal and iron ore markets | |||||||||||||||||||||||||||||||||||||||||||||
· | selling and general and administrative expenses to be in line with the growth in the steel market | · | projected unit selling price in the steel market | |||||||||||||||||||||||||||||||||||||||||||
· | projected bank borrowings | |||||||||||||||||||||||||||||||||||||||||||||
· | interest rate index | · | projected unit purchase cost in the coal and iron ore markets | |||||||||||||||||||||||||||||||||||||||||||
· | gross national product index | |||||||||||||||||||||||||||||||||||||||||||||
· | industry index | · | selling and general and administrative expenses to be in line with the growth in the steel market | |||||||||||||||||||||||||||||||||||||||||||
· | government policy | |||||||||||||||||||||||||||||||||||||||||||||
· | projected bank borrowings | |||||||||||||||||||||||||||||||||||||||||||||
The above assumptions were reviewed by the Company at September 30, 2013 and the Company changed those assumptions compared with the assumptions used at December 31, 2012 because of the changes in market conditions in the PRC. Since the Company had the most updated information from the banks, GDP report and the operating results from the three and nine months ended September 30, 2013, all of the above information indicated the downward trend in the steel manufacturing industry in the coming years. As a result, the Company re-measured the fair value of the 40% profit sharing liability as of the period ended September 30, 2013 and recorded a gain on change in fair value of profit sharing liability of $39.2 million and $95.4 million for the three and nine months ended September 30, 2013, respectively. | ||||||||||||||||||||||||||||||||||||||||||||||
· | interest rate index | |||||||||||||||||||||||||||||||||||||||||||||
The estimated fair value of the profit sharing liability at September 30, 2013 is $241.1 million. Changes in any of the assumptions used to estimate the fair value of the profit sharing liability will change the liability accordingly. If we were to reduce the projected bank borrowing rate by 1.0% and other factors remained unchanged, our profit sharing liability as of September 30, 2013 would have been $254.9 million and we would reduce the gain from the change in the fair value of the profit sharing liabilities by $13.8 million. If we were to reduce the projected selling units and growth in the steel market rate by 1.0% and other factors remained unchanged, our profit sharing liability as of September 30, 2013 would have been $214.3 million and we would increase the gain from the change in the fair value of profit sharing liabilities by $26.8 million. | ||||||||||||||||||||||||||||||||||||||||||||||
· | gross national product index | |||||||||||||||||||||||||||||||||||||||||||||
The following table sets forth by level within the fair value hierarchy, the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis as of September 30, 2013: | ||||||||||||||||||||||||||||||||||||||||||||||
· | industry index | |||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | Carrying Value as | Fair Value Measurements at September 30, | ||||||||||||||||||||||||||||||||||||||||||||
of September 30, | 2013 | · | government policy | |||||||||||||||||||||||||||||||||||||||||||
2013 | Using Fair Value Hierarchy | |||||||||||||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | The above assumptions were reviewed by the Company at December 31, 2013 and the Company changed those assumptions compared with the assumptions used at December 31, 2012 and 2011 because of the changes in market conditions in the PRC. Since the Company had the most updated information from the banks, GDP report, government policies, and the operating results from the year ended December 31, 2013, all of the above information indicated the downward trend in the steel manufacturing industry in the coming years. As a result, the Company re-measured the fair value of the 40% profit sharing liability as of the period ended December 31, 2013 and recorded a gain on change in fair value of profit sharing liability of $ $174.6 million for the year ended December 31, 2013. | |||||||||||||||||||||||||||||||||||||||||||
Profit sharing liability | $ | 241,090 | $ | - | $ | - | $ | 241,090 | ||||||||||||||||||||||||||||||||||||||
Total | $ | 241,090 | $ | - | $ | - | $ | 241,090 | The estimated fair value of the profit sharing liability at December 31, 2013 is $162.3 million. Changes in any of the assumptions used to estimate the fair value of the profit sharing liability will change the liability accordingly. If we were to reduce the projected bank borrowing rate used to discount the liability to a present value by 1.0% and other factors remained unchanged, our profit sharing liability as of December 31, 2013 would have been $186.0 million and we would reduce the gain from the change in the fair value of the profit sharing liabilities by $23.7 million. If we were to reduce the projected selling units and growth in the steel market rate by 1.0% and other factors remained unchanged, our profit sharing liability as of December 31, 2013 would have been $159.8 million and we would reduce the loss from the change in the fair value of profit sharing liabilities by $2.5 million. | |||||||||||||||||||||||||||||||||||||
The following table sets forth by level within the fair value hierarchy, the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis as of June 30, 2013: | The following table sets forth by level within the fair value hierarchy, the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis as of December 31, 2013: | |||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | Carrying Value as | Fair Value Measurements at June 30, 2013 | Carrying Value as | Fair Value Measurements at December 31, | ||||||||||||||||||||||||||||||||||||||||||
of June 30, 2013 | Using Fair Value Hierarchy | of December 31, | 2013 | |||||||||||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | (in thousands) | 2013 | Using Fair Value Hierarchy | |||||||||||||||||||||||||||||||||||||||||
Profit sharing liability | $ | 278,788 | $ | - | $ | - | $ | 278,788 | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||||||||||||||
Total | $ | 278,788 | $ | - | $ | - | $ | 278,788 | Profit sharing liability | $ | 162,295 | $ | - | $ | - | $ | 162,295 | |||||||||||||||||||||||||||||
Total | $ | 162,295 | $ | - | $ | - | $ | 162,295 | ||||||||||||||||||||||||||||||||||||||
The following table sets forth by level within the fair value hierarchy, the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis as of March 31, 2013: | ||||||||||||||||||||||||||||||||||||||||||||||
The following table sets forth by level within the fair value hierarchy the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis as of December 31, 2012: | ||||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | Carrying Value as | Fair Value Measurements at March 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||
of March 31, 2013 | Using Fair Value Hierarchy | (in thousands) | Carrying Value as | Fair Value Measurements at December 31, | ||||||||||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | of December 31, | 2012 | ||||||||||||||||||||||||||||||||||||||||||
Profit sharing liability | $ | 283,831 | $ | - | $ | - | $ | 283,831 | 2012 | Using Fair Value Hierarchy | ||||||||||||||||||||||||||||||||||||
Total | $ | 283,831 | $ | - | $ | - | $ | 283,831 | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||||||||||||||
Derivative liabilities - warrants | $ | 1 | $ | - | $ | - | $ | 1 | ||||||||||||||||||||||||||||||||||||||
The following table sets forth by level within the fair value hierarchy the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis as of December 31, 2012: | Profit sharing liability | 328,827 | - | - | 328,827 | |||||||||||||||||||||||||||||||||||||||||
Total | $ | 328,828 | $ | - | $ | - | $ | 328,828 | ||||||||||||||||||||||||||||||||||||||
(in thousands) | Carrying Value as | Fair Value Measurements at December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||
of December 31, | Using Fair Value Hierarchy | The following table sets forth by level within the fair value hierarchy the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis as of December 31, 2011: | ||||||||||||||||||||||||||||||||||||||||||||
2012 | ||||||||||||||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | (in thousands) | Carrying Value as | Fair Value Measurements at December 31, | |||||||||||||||||||||||||||||||||||||||||
Derivative liabilities | $ | 1 | $ | - | $ | - | $ | 1 | of December 31, | 2011 | ||||||||||||||||||||||||||||||||||||
Profit sharing liability | 328,827 | - | - | 328,827 | 2011 | Using Fair Value Hierarchy | ||||||||||||||||||||||||||||||||||||||||
Total | $ | 328,828 | $ | - | $ | - | $ | 328,828 | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||||||||||||||
Derivative liabilities - warrants | $ | 10 | $ | - | $ | - | $ | 10 | ||||||||||||||||||||||||||||||||||||||
The following table sets forth by level within the fair value hierarchy, the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis as of September 30, 2012: | Profit sharing liability | 303,233 | - | - | 303,233 | |||||||||||||||||||||||||||||||||||||||||
Total | $ | 303,243 | $ | - | $ | - | $ | 303,243 | ||||||||||||||||||||||||||||||||||||||
(in thousands) | Carrying Value as | Fair Value Measurements at September 30, 2012 | ||||||||||||||||||||||||||||||||||||||||||||
of September 30, | Using Fair Value Hierarchy | The following table sets forth by level within the fair value hierarchy the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis as of December 31, 2010: | ||||||||||||||||||||||||||||||||||||||||||||
2012 | ||||||||||||||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | (in thousands) | Carrying Value as | Fair Value Measurements at December 31, | |||||||||||||||||||||||||||||||||||||||||
Derivative liabilities | $ | 58 | $ | - | $ | - | $ | 58 | of December 31, | 2010 | ||||||||||||||||||||||||||||||||||||
Profit sharing liability | 322,386 | - | - | 322,386 | 2010 | Using Fair Value Hierarchy | ||||||||||||||||||||||||||||||||||||||||
Total | $ | 322,444 | $ | - | $ | - | $ | 322,444 | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||||||||||||||
Derivative liabilities - warrants | $ | 5,573 | $ | - | $ | - | $ | 5,573 | ||||||||||||||||||||||||||||||||||||||
The following table sets forth by level within the fair value hierarchy, the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis as of June 30, 2012: | ||||||||||||||||||||||||||||||||||||||||||||||
The following is a reconciliation of the beginning and ending balance of the assets and liabilities measured at fair value on a recurring basis for the years ended December 31, 2013, 2012, 2011 and 2010: | ||||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | Carrying Value as | Fair Value Measurements at June 30, 2012 | ||||||||||||||||||||||||||||||||||||||||||||
of June 30, 2012 | Using Fair Value Hierarchy | December 31, | December 31, | December 31, | December 31, | |||||||||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||||||||||||||||||||||||
Derivative liabilities | $ | 3 | $ | - | $ | - | $ | 3 | (in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||||
Profit sharing liability | 317,174 | - | - | 317,174 | Beginning balance | $ | 328,828 | $ | 303,243 | $ | 5,573 | $ | 24,390 | |||||||||||||||||||||||||||||||||
Total | $ | 317,177 | $ | - | $ | - | $ | 317,177 | Initial measurement and recognition of the 40% profit sharing liability on April 29, 2011 | - | - | 280,857 | - | |||||||||||||||||||||||||||||||||
Change in fair value of profit sharing liability: | ||||||||||||||||||||||||||||||||||||||||||||||
Change in estimate of future operating profits | -174,821 | - | - | - | ||||||||||||||||||||||||||||||||||||||||||
The following table sets forth by level within the fair value hierarchy, the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis as of March 31, 2012: | Change in discount rate | - | - | - | ||||||||||||||||||||||||||||||||||||||||||
Change in the number of future periods over which the present value of future cash | 16,872 | 22,499 | 14,047 | - | ||||||||||||||||||||||||||||||||||||||||||
(in thousands) | Carrying Value as | Fair Value Measurements at March 31, 2012 | Difference between the previously estimated operating results for the current period and actual results | -16,620 | - | - | - | |||||||||||||||||||||||||||||||||||||||
of March 31, 2012 | Using Fair Value Hierarchy | Current period interest expense accreted | - | - | - | 389 | ||||||||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Current period payments made for principal and stated interest | - | - | - | -217 | |||||||||||||||||||||||||||||||||||||||
Derivative liabilities | $ | 23 | $ | - | $ | - | $ | 23 | Current period note converted carrying value | - | - | - | -3,934 | |||||||||||||||||||||||||||||||||
Profit sharing liability | 311,358 | - | - | 311,358 | Change in derivative liabilities - warrants | 1 | 9 | -5,563 | -15,055 | |||||||||||||||||||||||||||||||||||||
Total | $ | 311,381 | $ | - | $ | - | $ | 311,381 | Exchange rate effect | 8,035 | 3,077 | 8,329 | - | |||||||||||||||||||||||||||||||||
Ending balance | $ | 162,295 | $ | 328,828 | $ | 303,243 | $ | 5,573 | ||||||||||||||||||||||||||||||||||||||
The following table sets forth by level within the fair value hierarchy the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis as of December 31, 2011: | ||||||||||||||||||||||||||||||||||||||||||||||
Except for the derivative liabilities and profit sharing liability, the Company did not identify any other assets or liabilities that are required to be presented on the balance sheet at fair value in accordance with the accounting standard. | ||||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | Carrying Value as | Fair Value Measurements at December 31, 2011 | ||||||||||||||||||||||||||||||||||||||||||||
of December 31, | Using Fair Value Hierarchy | |||||||||||||||||||||||||||||||||||||||||||||
2011 | ||||||||||||||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||||||||||||||||||||||
Derivative liabilities | $ | 10 | $ | - | $ | - | $ | 10 | ||||||||||||||||||||||||||||||||||||||
Profit sharing liability | 303,233 | - | - | 303,233 | ||||||||||||||||||||||||||||||||||||||||||
Total | $ | 303,243 | $ | - | $ | - | $ | 303,243 | ||||||||||||||||||||||||||||||||||||||
The following table sets forth by level within the fair value hierarchy, the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis as of September 30, 2011: | ||||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | Carrying Value | Fair Value Measurements at September 30, 2011 | ||||||||||||||||||||||||||||||||||||||||||||
as of | Using Fair Value Hierarchy | |||||||||||||||||||||||||||||||||||||||||||||
September 30, | ||||||||||||||||||||||||||||||||||||||||||||||
2011 | ||||||||||||||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||||||||||||||||||||||
Derivative liabilities | $ | 48 | $ | - | $ | - | $ | 48 | ||||||||||||||||||||||||||||||||||||||
Profit sharing liability | 296,723 | - | - | 296,723 | ||||||||||||||||||||||||||||||||||||||||||
Total | $ | 296,771 | $ | - | $ | - | $ | 296,771 | ||||||||||||||||||||||||||||||||||||||
The following table sets forth by level within the fair value hierarchy, the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis as of June 30, 2011: | ||||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | Carrying Value | Fair Value Measurements at June 30, 2011 | ||||||||||||||||||||||||||||||||||||||||||||
as of | Using Fair Value Hierarchy | |||||||||||||||||||||||||||||||||||||||||||||
June 30, 2011 | ||||||||||||||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||||||||||||||||||||||
Derivative liabilities | $ | 182 | $ | - | $ | - | $ | 182 | ||||||||||||||||||||||||||||||||||||||
Profit sharing liability | 284,871 | - | - | 284,871 | ||||||||||||||||||||||||||||||||||||||||||
Total | $ | 285,053 | $ | - | $ | - | $ | 285,053 | ||||||||||||||||||||||||||||||||||||||
The following table sets forth by level within the fair value hierarchy the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis as of December 31, 2010: | ||||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | Carrying Value as | Fair Value Measurements at December 31, 2010 | ||||||||||||||||||||||||||||||||||||||||||||
of December 31, | Using Fair Value Hierarchy | |||||||||||||||||||||||||||||||||||||||||||||
2010 | ||||||||||||||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||||||||||||||||||||||
Derivative liabilities | $ | 5,573 | $ | - | 5,573 | |||||||||||||||||||||||||||||||||||||||||
The following is a reconciliation of the beginning and ending balance of the assets and liabilities measured at fair value on a recurring basis for the following periods: | ||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2013 | June 30, 2013 | March 31, 2013 | December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 328,828 | $ | 328,828 | $ | 328,828 | $ | 303,243 | ||||||||||||||||||||||||||||||||||||||
Change in fair value of profit sharing liability: | ||||||||||||||||||||||||||||||||||||||||||||||
Change in estimate of future operating profits | -99,170 | -63,537 | -51,892 | - | ||||||||||||||||||||||||||||||||||||||||||
Change in discount rate | - | - | - | - | ||||||||||||||||||||||||||||||||||||||||||
Change in the number of future periods over which the present value of future cash flows is estimated | 12,440 | 9,779 | 5,113 | 22,499 | ||||||||||||||||||||||||||||||||||||||||||
Difference between the previously estimated operating results for the current period and actual results | -8,707 | -2,515 | - | - | ||||||||||||||||||||||||||||||||||||||||||
Change of derivative liabilities charged to earnings | 1 | 1 | -1 | 9 | ||||||||||||||||||||||||||||||||||||||||||
Exchange rate effect | 7,698 | 6,232 | 1,783 | 3,077 | ||||||||||||||||||||||||||||||||||||||||||
Ending balance | $ | 241,090 | $ | 278,788 | $ | 283,831 | $ | 328,828 | ||||||||||||||||||||||||||||||||||||||
September 30, 2012 | June 30, 2012 | March 31, 2012 | December 31, 2011 | |||||||||||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 303,243 | $ | 303,243 | $ | 303,243 | $ | 5,573 | ||||||||||||||||||||||||||||||||||||||
Initial measurement and recognition of the 40% profit sharing liability on April 29, 2011 | - | - | - | 280,857 | ||||||||||||||||||||||||||||||||||||||||||
Change in fair value of profit sharing liability: | ||||||||||||||||||||||||||||||||||||||||||||||
Change in estimate of future operating profits | - | - | - | - | ||||||||||||||||||||||||||||||||||||||||||
Change in discount rate | - | - | - | - | ||||||||||||||||||||||||||||||||||||||||||
Change in the number of future periods over which the present value of future cash flows is estimated | 16,860 | 11,250 | 5,630 | 14,047 | ||||||||||||||||||||||||||||||||||||||||||
Difference between the previously estimated operating results for the current period and actual results | - | - | - | - | ||||||||||||||||||||||||||||||||||||||||||
Change of derivative liabilities charged to earnings | 48 | -7 | 13 | -5,563 | ||||||||||||||||||||||||||||||||||||||||||
Exchange rate effect | 2,293 | 2,691 | 2,495 | 8,329 | ||||||||||||||||||||||||||||||||||||||||||
Ending balance | $ | 322,444 | $ | 317,177 | $ | 311,381 | $ | 303,243 | ||||||||||||||||||||||||||||||||||||||
September 30, 2011 | June 30, 2011 | December 31, 2010 | ||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 5,573 | $ | 5,573 | $ | 24,390 | ||||||||||||||||||||||||||||||||||||||||
Initial measurement and recognition of the 40% profit sharing liability on April 29, 2011 | 280,857 | 280,857 | - | |||||||||||||||||||||||||||||||||||||||||||
Change in fair value of profit sharing liability: | ||||||||||||||||||||||||||||||||||||||||||||||
Change in estimate of future operating profits | - | - | - | |||||||||||||||||||||||||||||||||||||||||||
Change in discount rate | - | - | - | |||||||||||||||||||||||||||||||||||||||||||
Change in the number of future periods over which the present value of future cash flows is estimated | 8,743 | 3,336 | - | |||||||||||||||||||||||||||||||||||||||||||
Difference between the previously estimated operating results for the current period and actual results | - | - | - | |||||||||||||||||||||||||||||||||||||||||||
Current period interest expense accreted | - | - | 389 | |||||||||||||||||||||||||||||||||||||||||||
Current period payments made for principal and stated interest | - | - | -217 | |||||||||||||||||||||||||||||||||||||||||||
Current period note converted carrying value | - | - | -3,934 | |||||||||||||||||||||||||||||||||||||||||||
Change of derivative liabilities charged to earnings | -5,526 | -5,391 | -15,055 | |||||||||||||||||||||||||||||||||||||||||||
Exchange rate effect | 7,124 | 678 | ||||||||||||||||||||||||||||||||||||||||||||
Ending balance | $ | 296,771 | $ | 285,053 | $ | 5,573 | ||||||||||||||||||||||||||||||||||||||||
Except for the derivative liabilities related to the profit sharing liability and to the warrants issued by the Company, which expired on May 13, 2013, the Company did not identify any other assets or liabilities that are required to be presented on the balance sheet at fair value. | ||||||||||||||||||||||||||||||||||||||||||||||
Cash and Cash Equivalents, Policy [Policy Text Block] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||
(j) | Cash | |||||||||||||||||||||||||||||||||||||||||||||
Cash includes cash on hand and demand deposits in banks with original maturities of less than three months. | ||||||||||||||||||||||||||||||||||||||||||||||
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||
(k) | Restricted cash | |||||||||||||||||||||||||||||||||||||||||||||
The Company has notes payable outstanding with various banks and is required to keep certain amounts on deposit that are subject to withdrawal restrictions. The notes payable are generally short term in nature due to its maturity period of six months or less, thus restricted cash is classified as a current asset. | ||||||||||||||||||||||||||||||||||||||||||||||
Short Term Investment [Policy Text Block] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||
(l) | Short term investment | |||||||||||||||||||||||||||||||||||||||||||||
Short-term investments are certificated deposits maintained with banks within the PRC with maturity date of less than one year. | ||||||||||||||||||||||||||||||||||||||||||||||
Trade and Other Accounts Receivable, Policy [Policy Text Block] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||
(m) | Accounts receivable and allowance for doubtful accounts | |||||||||||||||||||||||||||||||||||||||||||||
Accounts receivable include trade accounts due from customers and other receivables from cash advances to employees, related parties or third parties. An allowance for doubtful accounts is established and recorded based on managements’ assessment of potential losses based on the credit history and relationships with the customers. Management reviews its receivables on a regular basis to determine if the bad debt allowance is adequate, and adjusts the allowance when necessary. Delinquent account balances are written-off against allowance for doubtful accounts after management has determined that the likelihood of collection is not probable. | ||||||||||||||||||||||||||||||||||||||||||||||
Notes Receivable [Policy Text Block] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||
(i) | Notes receivable | (n) | Notes receivable | |||||||||||||||||||||||||||||||||||||||||||
Notes receivable represents trade accounts receivable due from various customers where the customers’ banks have guaranteed the payment. The notes are non-interest bearing and normally paid within three to six months. The Company has the ability to submit request for payment to the customer’s bank earlier than the scheduled payment date, but will incur an interest charge and a processing fee. | Notes receivable represents trade accounts receivable due from various customers where the customers’ banks have guaranteed the payment. The notes are non-interest bearing and normally paid within three to six months. The Company has the ability to submit request for payment to the customer’s bank earlier than the scheduled payment date, but will incur an interest charge and a processing fee. | |||||||||||||||||||||||||||||||||||||||||||||
Restricted notes receivable represents notes receivable pledged as collateral for short-term loans and short-term notes payable issued by banks. | Restricted notes receivable represents notes receivable pledged as collateral for short-term loans and short-term notes payable issued by banks. | |||||||||||||||||||||||||||||||||||||||||||||
Interest expenses for early submission request of payment for the three months ended September 30, 2013, 2012, 2011 and 2010 amounted to $9.6 million, $16.3 million, $9.0 million and $5.2 million, respectively, and amounted to $26.9 million, $65.6 million, $20.4 million and $19.8 million, respectively, for the nine months ended September 30, 2013, 2012, 2011 and 2010. | Interest expenses for early submission request of payment amounted to $37.9 million, $90.0 million $34.2 million and $24.4 million, respectively, for the years ended December 31, 2013, 2012, 2011 and 2010. | |||||||||||||||||||||||||||||||||||||||||||||
Interest expenses for early submission request of payment for the three months ended June 30, 2013, 2012, 2011 and 2010 amounted to $6.5 million, $28.4 million, $6.2 million and $9.0 million, respectively, and amounted to $17.3 million, $49.3 million, $11.4 million and $14.6 million, respectively, for the six months ended June 30, 2013, 2012, 2011 and 2010. | ||||||||||||||||||||||||||||||||||||||||||||||
Interest expenses for early submission request of payment for the three months ended March 31, 2013, 2012 and 2011 amounted to $10.8 million, $20.9 million and $5.2 million, respectively. | ||||||||||||||||||||||||||||||||||||||||||||||
Advances On Inventory Purchase [Policy Text Block] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||
(o) | Advances on inventory purchase | |||||||||||||||||||||||||||||||||||||||||||||
Advances on inventory purchases are monies deposited or advanced to outside vendors or related parties on future inventory purchases. Due to the shortage of raw material in China, most of the Company’s vendors require a certain amount of money to be deposited with them as a guarantee that the Company will complete its purchases on a timely basis. | ||||||||||||||||||||||||||||||||||||||||||||||
This amount is refundable and bears no interest. The Company has legally binding contracts with its vendors, which required the deposit to be returned to the Company when the contract ends. The inventory is normally delivered within one month after the monies have been advanced. | ||||||||||||||||||||||||||||||||||||||||||||||
Inventory, Policy [Policy Text Block] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||
(p) | Inventories | |||||||||||||||||||||||||||||||||||||||||||||
Inventories are comprised of raw materials, work in progress and finished goods and are stated at the lower of cost or market using the weighted average cost method. Management reviews inventories for obsolescence and cost in excess of net realizable value at least annually and records a reserve against the inventory and additional cost of goods sold when the carrying value exceeds net realizable value. The Company had written-off $9.8 million, $38.5 million, $37.5 million and $1.1 million inventory cost as of December 31, 2013, 2012, 2011 and 2010, respectively. | ||||||||||||||||||||||||||||||||||||||||||||||
Shipping and Handling Cost, Policy [Policy Text Block] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||
(q) | Shipping and handling | |||||||||||||||||||||||||||||||||||||||||||||
Shipping and handling for raw materials purchased are included in cost of goods sold. Shipping and handling cost incurred to ship finished products to customers are included in selling expenses. Shipping and handling expenses for finished goods for the years ended December 31, 2013, 2012, 2011 and 2010 amounted to $23.1 million, $23.7 million, $30.1 million and $9.5 million, respectively. | ||||||||||||||||||||||||||||||||||||||||||||||
Property, Plant and Equipment, Policy [Policy Text Block] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||
(j) | Plant and equipment, net | (r) | Plant and equipment, net | |||||||||||||||||||||||||||||||||||||||||||
Plant and equipment are stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the assets with a 3%-5% residual value. The depreciation expense on assets acquired under capital leases is included with depreciation expense on owned assets. The estimated useful lives are as follows: | Plant and equipment are stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the assets with a 3%-5% residual value. The depreciation expense on assets acquired under capital leases is included with depreciation expense on owned assets. The estimated useful lives are as follows: | |||||||||||||||||||||||||||||||||||||||||||||
Buildings and Improvements | 10-40 Years | Buildings and Improvements | 10-40 Years | |||||||||||||||||||||||||||||||||||||||||||
Machinery | 10-30 Years | Machinery | 10-30 Years | |||||||||||||||||||||||||||||||||||||||||||
Machinery and equipment under capital lease | 20 Years | Machinery and equipment under capital lease | 10-20 Years | |||||||||||||||||||||||||||||||||||||||||||
Other equipment | 5 Years | Other equipment | 5 Years | |||||||||||||||||||||||||||||||||||||||||||
Transportation Equipment | 5 Years | Transportation Equipment | 5 Years | |||||||||||||||||||||||||||||||||||||||||||
The Company assesses all significant leases for purposes of classification as either operating or capital. At lease inception, if the lease meets any of the four following criteria, the Company will classify it as a capital lease; otherwise it will be treated as an operating lease: a) transfer of ownership to lessee at the end of the lease term, b) bargain purchase option, c) lease term is equal to 75% or more of the estimated economic life of the leased property, d) the present value of the minimum lease payments is 90% or more of the fair value of the leased asset. | The Company assesses all significant leases for purposes of classification as either operating or capital. At lease inception, if the lease meets any of the four following criteria, the Company will classify it as a capital lease; otherwise it will be treated as an operating lease: a) transfer of ownership to lessee at the end of the lease term, b) bargain purchase option, c) lease term is equal to 75% or more of the estimated economic life of the leased property, d) the present value of the minimum lease payments is 90% or more of the fair value of the leased asset. | |||||||||||||||||||||||||||||||||||||||||||||
Construction in progress represents the costs incurred in connection with the construction of buildings or new additions to the Company’s plant facilities. No depreciation is provided for construction in progress until such time as the assets are completed and are placed into service, maintenance, repairs and minor renewals are charged directly to expense as incurred. Major additions and betterment to buildings and equipment are capitalized. Interest incurred during construction is capitalized into construction in progress. All other interest is expensed as incurred. | Construction in progress represents the costs incurred in connection with the construction of buildings or new additions to the Company’s plant facilities. No depreciation is provided for construction in progress until such time as the assets are completed and are placed into service, maintenance, repairs and minor renewals are charged directly to expense as incurred. Major additions and betterment to buildings and equipment are capitalized. Interest incurred during construction is capitalized into construction in progress. All other interest is expensed as incurred. | |||||||||||||||||||||||||||||||||||||||||||||
Long lived assets, including buildings and improvements, equipment and intangible assets are reviewed if events and changes in circumstances indicate that its carrying amount may not be recoverable, to determine whether their carrying value has become impaired. The Company considers assets to be impaired if the carrying value exceeds the future projected cash flows from related operations. The Company also re-evaluates the periods of depreciation and amortization to determine whether subsequent events and circumstances warrant revised estimates of useful lives. | Long lived assets, including buildings and improvements, equipment and intangible assets are reviewed if events and changes in circumstances indicate that its carrying amount may not be recoverable, to determine whether their carrying value has become impaired. The Company considers assets to be impaired if the carrying value exceeds the future projected cash flows from related operations. The Company also re-evaluates the periods of depreciation and amortization to determine whether subsequent events and circumstances warrant revised estimates of useful lives. | |||||||||||||||||||||||||||||||||||||||||||||
Goodwill and Intangible Assets, Policy [Policy Text Block] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||
(j) | Intangible assets | (s) | Intangible assets | |||||||||||||||||||||||||||||||||||||||||||
Finite lived intangible assets of the Company are reviewed for impairment if events and circumstances require. The Company considers assets to be impaired if the carrying value exceeds the future projected cash flows from related operations. The Company also re-evaluates the periods of amortization to determine whether subsequent events and circumstances warrant revised estimates of useful lives. As of September 30, 2013, the Company expects these assets to be fully recoverable. | Finite lived intangible assets of the Company are reviewed for impairment if events and circumstances require. The Company considers assets to be impaired if the carrying value exceeds the future projected cash flows from related operations. The Company also re-evaluates the periods of amortization to determine whether subsequent events and circumstances warrant revised estimates of useful lives. As of December 31, 2013, the Company expects these assets to be fully recoverable. | |||||||||||||||||||||||||||||||||||||||||||||
Land use rights | Land use rights | |||||||||||||||||||||||||||||||||||||||||||||
All land in the PRC is owned by the government. However, the government grants “land use rights.” General Steel (China) acquired land use rights in 2001 for a total of $3.9 million (RMB 23.7 million). These land use rights are for 50 years and expire in 2050 and 2053. The Company amortizes the land use rights over the twenty-year business term because its business license had a twenty-year term. | All land in the PRC is owned by the government. However, the government grants “land use rights.” General Steel (China) acquired land use rights in 2001 for a total of $3.9 million (RMB 23.7 million). These land use rights are for 50 years and expire in 2050 and 2053. The Company amortizes the land use rights over the twenty-year business term because its business license had a twenty-year term. | |||||||||||||||||||||||||||||||||||||||||||||
Long Steel Group contributed land use rights for a total amount of $24.2 million (RMB 148.6 million) to the Longmen Joint Venture. The contributed land use rights are for 50 years and expire in 2048 to 2052. | Long Steel Group contributed land use rights for a total amount of $24.3 million (RMB 148.3 million) to the Longmen Joint Venture. The contributed land use rights are for 50 years and expire in 2048 to 2052. | |||||||||||||||||||||||||||||||||||||||||||||
Maoming Hengda has land use rights amounting to $2.7 million (RMB 16.6 million) for 50 years that expire in 2054. | Maoming Hengda has land use rights amounting to $2.7 million (RMB 16.6 million) for 50 years that expire in 2054. | |||||||||||||||||||||||||||||||||||||||||||||
Other than the land use rights that General Steel (China) acquired in 2001, the Company amortizes the land use rights over their 50 year term. | Other than the land use rights that General Steel (China) acquired in 2001, the Company amortizes the land use rights over their 50 year term. | |||||||||||||||||||||||||||||||||||||||||||||
Entity | Original Cost | Expires on | Entity | Original Cost | Expires on | |||||||||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | |||||||||||||||||||||||||||||||||||||||||||||
General Steel (China) | $ | 3,867 | 2050 & 2053 | General Steel (China) | $ | 3,884 | 2050 & 2053 | |||||||||||||||||||||||||||||||||||||||
Longmen Joint Venture | $ | 24,226 | 2048 & 2052 | Longmen Joint Venture | $ | 24,283 | 2048 & 2052 | |||||||||||||||||||||||||||||||||||||||
Maoming Hengda | $ | 2,705 | 2054 | Maoming Hengda | $ | 2,717 | 2054 | |||||||||||||||||||||||||||||||||||||||
Mining right | ||||||||||||||||||||||||||||||||||||||||||||||
Mining right | ||||||||||||||||||||||||||||||||||||||||||||||
Mining rights are capitalized at cost when acquired, including amounts associated with any value beyond proven and probable reserves, and amortized to operations as depletion expense using the units-of-production method over the estimated proven and probable recoverable tons. Longmen Joint Venture has iron ore mining right amounting to $2.4 million (RMB 15.0 million), which is amortized over the estimated recoverable reserve of 4.2 million tons. | ||||||||||||||||||||||||||||||||||||||||||||||
Mining rights are capitalized at cost when acquired, including amounts associated with any value beyond proven and probable reserves, and amortized to operations as depletion expense using the units-of-production method over the estimated proven and probable recoverable tons. In October 2011, Longmen Joint Venture acquired an iron ore mining right amounting to $2.5 million (RMB 15.0 million), which is amortized over the estimated recoverable reserve of 4.2 million tons. | ||||||||||||||||||||||||||||||||||||||||||||||
Investment, Policy [Policy Text Block] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||
(k) | Investments in unconsolidated entities | (t) | Investments in unconsolidated entities | |||||||||||||||||||||||||||||||||||||||||||
Entities in which the Company has the ability to exercise significant influence, but does not have a controlling interest, are accounted for using the equity method. Significant influence is generally considered to exist when the Company has an ownership interest in the voting stock between 20% and 50%, and other factors, such as representation on the Board of Directors, voting rights and the impact of commercial arrangements, are considered in determining whether the equity method of accounting is appropriate. The Company accounts for investments with ownership less than 20% using the cost method. | Entities in which the Company has the ability to exercise significant influence, but does not have a controlling interest, are accounted for using the equity method. Significant influence is generally considered to exist when the Company has an ownership interest in the voting stock between 20% and 50%, and other factors, such as representation on the Board of Directors, voting rights and the impact of commercial arrangements, are considered in determining whether the equity method of accounting is appropriate. The Company accounts for investments with ownership less than 20% using the cost method. | |||||||||||||||||||||||||||||||||||||||||||||
The table below summarizes Longmen Joint Venture’s investment holdings as of September 30, 2013, June 30, 2013, March 31, 2013, December 31, 2012, September 30, 2012, June 30, 2012, March 31, 2012, December 31, 2011, September 30, 2011, June 30, 2011 and December 31, 2010. | The tables below summarize Longmen Joint Venture’s investment holdings as of December 31, 2013, 2012, 2011 and 2010. | |||||||||||||||||||||||||||||||||||||||||||||
Unconsolidated | Year | Owned | September 30, | June 30, | March 31, | December 31, | December 31, | December 31, | ||||||||||||||||||||||||||||||||||||||
entities | acquired | % | 2013 | 2013 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||||||
Net investment | Net investment | Net investment | Net investment | Unconsolidated entities | Year | Net investment | Owned | Net investment | Owned | |||||||||||||||||||||||||||||||||||||
(In thousands) | (In thousands) | (In thousands) | (In thousands) | acquired | (In thousands) | % | (In thousands) | % | ||||||||||||||||||||||||||||||||||||||
Xian Delong Powder Engineering Materials Co., Ltd. | 2007 | 24.1 | $ | 1,161 | $ | 1,106 | $ | 958 | 1,166 | Xi’an Delong Powder Engineering Materials Co., Ltd. | 2007 | $ | 1,215 | 24.1 | $ | 1,166 | 24.1 | |||||||||||||||||||||||||||||
Unconsolidated entities | Year | September 30, | Owned | June 30, | Owned | March 31, | Owned | December 31, | Owned | December 31, | December 31, | |||||||||||||||||||||||||||||||||||
acquired | 2012 | % | 2012 | % | 2012 | % | 2011 | % | 2011 | 2010 | ||||||||||||||||||||||||||||||||||||
Net investment | Net investment | Net investment | Net investment | Year | Net investment | Owned | Net investment | Owned | ||||||||||||||||||||||||||||||||||||||
(In thousands) | (In thousands) | (In thousands) | (In thousands) | Unconsolidated entities | acquired | (In thousands) | % | (In thousands) | % | |||||||||||||||||||||||||||||||||||||
Shaanxi Daxigou Mining Co., Ltd | 2004 | $ | - | - | $ | - | - | $ | - | - | $ | 8,304 | 22.1 | Xi’an Delong Powder Engineering Materials Co., Ltd. | 2007 | $ | 1,041 | 24.1 | $ | 1,236 | 27 | |||||||||||||||||||||||||
Huashan Metallurgical Equipment Co., Ltd. | 2003 | - | - | - | - | - | - | 3,067 | 25 | Shaanxi Daxigou Mining Co., Ltd | 2004 | 8,304 | 22.1 | 4,779 | 22.1 | |||||||||||||||||||||||||||||||
Shaanxi Long Steel Group Baoji Steel Rolling Co., Ltd | 2003 | - | - | - | - | - | - | 428 | 25 | Shaanxi Xinglong Thermoelectric Co., Ltd. | 2004-2007 | - | - | 8,534 | 20.7 | |||||||||||||||||||||||||||||||
Xian Delong Powder Engineering Materials Co., Ltd. | 2007 | 1,027 | 24.1 | 984 | 24.1 | 904 | 24.1 | 1,041 | 27 | Huashan Metallurgical Equipment Co., Ltd. | 2003 | 3,067 | 25 | 2,907 | 25 | |||||||||||||||||||||||||||||||
Total | $ | 1,027 | $ | 984 | $ | 904 | $ | 12,840 | Shaanxi Long Steel Group Baoji Steel Rolling Co., Ltd | 2003 | 428 | 23.8 | - | 25 | ||||||||||||||||||||||||||||||||
Total | $ | 12,840 | $ | 17,456 | ||||||||||||||||||||||||||||||||||||||||||
Unconsolidated entities | Year | September 30, | Owned | June 30, | Owned | December 31, | Owned | |||||||||||||||||||||||||||||||||||||||
acquired | 2011 | % | 2011 | % | 2010 | % | The table below summarizes General Steel (China)’s investment holding (see Note 3(a) - Basis of presentation) as of December 31, 2013 and 2012. | |||||||||||||||||||||||||||||||||||||||
Net investment | Net investment | Net investment | ||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | (In thousands) | (In thousands) | December 31, | December 31, | ||||||||||||||||||||||||||||||||||||||||||
Xi’an Delong Powder Engineering Materials Co., Ltd. | 2007 | $ | 1,014 | 24.1 | $ | 995 | 24.1 | $ | 1,236 | 27 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||
Shaanxi Daxigou Mining Co., Ltd | 2004 | 6,134 | 22.1 | 5,568 | 22.1 | 4,779 | 22.1 | Unconsolidated entities | Year | Net investment | Owned | Net investment | Owned | |||||||||||||||||||||||||||||||||
Shaanxi Xinglong Thermoelectric Co., Ltd. | 2004-2007 | - | - | - | - | 8,534 | 20.7 | acquired | (In thousands) | % | (In thousands) | % | ||||||||||||||||||||||||||||||||||
Huashan Metallurgical Equipment Co., Ltd. | 2003 | 2,998 | 25 | 3,009 | 25 | 2,907 | 25 | Tianwu General Steel Material Trading Co., Ltd. | 2010 | $ | 15,728 | 32 | $ | 1,064 | 32 | |||||||||||||||||||||||||||||||
Shaanxi Long Steel Group Baoji Steel Rolling Co., Ltd | 2003 | 376 | 23.8 | 235 | 23.8 | - | 25 | |||||||||||||||||||||||||||||||||||||||
Total | $ | 10,522 | $ | 9,807 | $ | 17,456 | Total investment income in unconsolidated subsidiaries amounted to $0.2 million, $0.2 million, $3.9 million and $6.4 million for the years ended December 31, 2013, 2012, 2011 and 2010, respectively, which was included in “Income from equity investments” in the consolidated statements of operations and comprehensive loss. | |||||||||||||||||||||||||||||||||||||||
Total investment income in unconsolidated subsidiaries amounted to $0.05 million, $0.04 million, $0.8 million and $0.8 million for the three months ended September 30, 2013, 2012, 2011 and 2010, respectively, and $0.1 million, $0.1 million, $2.8 million and $4.1 million for the nine months ended September 30, 2013, 2012, 2011 and 2010, respectively, which was included in “Loss from equity investments” in the unaudited condensed consolidated statements of operations and comprehensive income (loss). | ||||||||||||||||||||||||||||||||||||||||||||||
Total investment income in unconsolidated subsidiaries amounted to $0.1 million, $0.08 million, $0.4 million and $3.1 million, for the three months ended June 30, 2013, 2012, 2011 and 2010 respectively, and $0.09 million, $0.04 million, $2.0 million and $3.2 million, for the six months ended June 30, 2013, 2012, 2011 and 2010 respectively, which was included in "Loss from equity investments" in the unaudited condensed consolidated statements of operations and comprehensive income (loss). | ||||||||||||||||||||||||||||||||||||||||||||||
Total investment income (loss) in unconsolidated subsidiaries amounted to $(0.04) million, $(0.04) million and $1.7 million for the three months ended March 31, 2013, 2012 and 2011, respectively, which was included in “Loss from equity investments” in the unaudited condensed consolidated statements of operations and comprehensive income (loss). | ||||||||||||||||||||||||||||||||||||||||||||||
On April 30, 2011, a share transfer agreement was signed with the Labor Union Trust of Long Steel Group, transferring Tongxing’s 20.7% share of Shaanxi Xinglong (“Xinglong”) Thermoelectric Co., Ltd to the Labor Union Trust of Long Steel Group for $11.3 million (RMB 72.9 million) on April 30, 2011. As of April 30, 2011, the Company’s investment in Xinglong is approximately $9.8 million and this transaction resulted in a gain of $1.5 million, which is included in “Income from equity investments” in the unaudited condensed consolidated statements of operations and other comprehensive income (loss). | ||||||||||||||||||||||||||||||||||||||||||||||
Short Term Notes Payable [Policy Text Block] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||
(u) | Short-term notes payable | |||||||||||||||||||||||||||||||||||||||||||||
Short-term notes payable are lines of credit extended by banks. The banks in-turn issue the Company a bankers acceptance note, which can be endorsed and assigned to vendors as payments for purchases. The notes payable are generally payable at a determinable period, generally three to six months. This short-term notes payable bears no interest and is guaranteed by the bank for its complete face value and usually matures within three to six-month period. The banks usually require the Company to deposit a certain amount of cash at the bank as a guarantee deposit, which is classified on the balance sheet as restricted cash. | ||||||||||||||||||||||||||||||||||||||||||||||
Customer Deposit [Policy Text Block] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||
(v) | Customer deposits | |||||||||||||||||||||||||||||||||||||||||||||
Customer deposits represent amounts advanced by customers on product orders. The product normally is shipped within one month after receipt of the advance payment, and the related sale is recognized in accordance with the Company’s revenue recognition policy. | ||||||||||||||||||||||||||||||||||||||||||||||
Lease, Policy [Policy Text Block] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||
(w) | Deferred lease income | |||||||||||||||||||||||||||||||||||||||||||||
To reimburse Longmen Joint Venture for certain construction costs incurred as well as economic losses on suspended production to accommodate the construction of the new iron and steel making facilities on behalf of Shaanxi Steel, in the fourth quarter of 2010, Shaanxi Steel reimbursed Longmen Joint Venture for the value of assets dismantled, various site preparation costs incurred and rent under a 40-year land sub-lease that was entered into by the parties in June 2009 (the "Longmen Sub-lease"), and for the reduced production efficiency caused by the construction. Applying the lease accounting guidance, the Company has concluded that, except for the reimbursement for site preparation costs incurred, the amount of reimbursement should be deferred and recognized as a component of the land that was sub-leased during the construction, to be amortized to income over the remaining term of the 40-year sub-lease. Deferred lease income represents the remaining balance of compensation being deferred. See Note 15 - “Deferred lease income”. | ||||||||||||||||||||||||||||||||||||||||||||||
Non Controlling Interest [Policy Text Block] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||
(x) | Non-controlling Interest | |||||||||||||||||||||||||||||||||||||||||||||
Non-controlling interest mainly consists of Long Steel Group’s 40% interest in Longmen Joint Venture, Baotou Iron and Steel Group’s 20% interest in Baotou Steel Pipe Joint Venture, an individuals’ 0.9% interest in Yangpu Shengtong, two individuals’ 1.3% interest in Qiu Steel, an individual’s 1% interest in Maoming Hengda, and TME Group’s 40% interest in Tianwu Joint Venture prior to its deconsolidation on November 19, 2013. The non-controlling interests are presented in the consolidated balance sheets, separately from equity attributable to the shareholders of the Company. Non-controlling interests in the results of the Company are presented on the face of the consolidated statement of operations as an allocation of the total income or loss for the year between non-controlling interest holders and the shareholders of the Company. | ||||||||||||||||||||||||||||||||||||||||||||||
Earnings Per Share, Policy [Policy Text Block] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||
(y) | Earnings (loss) per share | |||||||||||||||||||||||||||||||||||||||||||||
The Company has adopted the accounting principles generally accepted in the United States regarding earnings per share (“EPS”), which requires presentation of basic and diluted earnings (loss) per share in conjunction with the disclosure of the methodology used in computing such earnings (loss) per share. | ||||||||||||||||||||||||||||||||||||||||||||||
Basic earnings (loss) per share are computed by dividing income available to common stockholders by the weighted average common shares outstanding during the period. Diluted earnings (loss) per share takes into account the potential dilution that could occur if securities or other contracts to issue common stock were exercised and converted into common stock. | ||||||||||||||||||||||||||||||||||||||||||||||
Treasury Stock [Policy Text Block] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||
(z) | Treasury Stock | |||||||||||||||||||||||||||||||||||||||||||||
Treasury stock consists of shares repurchased by the Company that are no longer outstanding and are held by the Company. Treasury stock is accounted for under the cost method. | ||||||||||||||||||||||||||||||||||||||||||||||
As of December 31, 2013, the Company had repurchased 2,472,306 total shares of its common stock under the share repurchase plan approved by the Board of Directors in December 2010. | ||||||||||||||||||||||||||||||||||||||||||||||
Income Tax, Policy [Policy Text Block] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||
(aa) | Income taxes | |||||||||||||||||||||||||||||||||||||||||||||
The Company accounts for income taxes in accordance with the accounting principles generally accepted in the United States for income taxes. Under the asset and liability method as required by this accounting standard, the recognition of deferred income tax liabilities and assets for the expected future tax consequences of temporary differences between the income tax basis and financial reporting basis of assets and liabilities. Provision for income taxes consists of taxes currently due plus deferred taxes. The accounting principles generally accepted in the United States for accounting for uncertainty in income taxes clarify the accounting and disclosure for uncertain tax positions. A tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. | ||||||||||||||||||||||||||||||||||||||||||||||
The charge for taxation is based on the results for the year as adjusted for items, which are non-assessable or disallowed. It is calculated using tax rates that have been enacted or substantively enacted by the balance sheet date. | ||||||||||||||||||||||||||||||||||||||||||||||
Deferred tax is accounted for using the balance sheet liability method in respect of temporary differences arising from differences between the carrying amount of assets and liabilities in the consolidated financial statements and the corresponding tax basis used in the computation of assessable tax profit. In principle, deferred tax liabilities are recognized for all taxable temporary differences. Deferred tax assets are recognized to the extent that it is probable that taxable profit will be available against which deductible temporary differences can be utilized. Deferred tax is calculated using tax rates that are expected to apply to the period when the asset is realized or the liability is settled. Deferred tax is charged or credited in the income statement, except when it is related to items credited or charged directly to equity, in which case the deferred tax is also dealt with in equity. | ||||||||||||||||||||||||||||||||||||||||||||||
Deferred income taxes are recognized for temporary differences between the tax bases of assets and liabilities and their reported amounts in the financial statements, net operating loss carry forwards and credits, by applying enacted statutory tax rates applicable to future years. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Current income taxes are provided for in accordance with the laws of the relevant taxing authorities. | ||||||||||||||||||||||||||||||||||||||||||||||
An uncertain tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. Penalties and interest incurred related to underpayment of income tax are classified as income tax expense in the period incurred. No significant penalties or interest relating to income taxes have been incurred during the years ended December 31, 2013, and 2012. As of December 31, 2013, the Company’s income tax returns filed for December 31, 2013, 2012 and 2011 remain subject to examination by the taxing authorities. | ||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||
(bb) | Share-based compensation | |||||||||||||||||||||||||||||||||||||||||||||
The Company accounts for equity instruments issued in exchange for the receipt of goods or services from other than employees in accordance with the accounting standards regarding accounting for stock-based compensation and accounting for equity instruments that are issued to other than employees for acquiring or in conjunction with selling goods or services. Costs are measured at the estimated fair market value of the consideration received or the estimated fair value of the equity instruments issued, whichever is more reliably determinable. The value of equity instruments issued for consideration other than employee services is determined on the earlier of a performance commitment or completion of performance by the provider of goods or services as defined by these accounting standards. In the case of equity instruments issued to consultants, the fair value of the equity instrument is recognized over the term of the consulting agreement. | ||||||||||||||||||||||||||||||||||||||||||||||
New Accounting Pronouncements, Policy [Policy Text Block] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||
(cc) | Recently issued accounting pronouncements | |||||||||||||||||||||||||||||||||||||||||||||
In July 2013, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2013-11, Presentation of Unrecognized Tax Benefit When a Net Operating Loss Carry forward, a Similar Tax Loss, or a Tax Credit Carry forward Exists, an amendment to FASB Accounting Standards Codification ("ASC") Topic 740, Income Taxes ("FASB ASC Topic 740"). This update clarifies that an unrecognized tax benefit, or a portion of an unrecognized tax benefit, should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carry forward, a similar tax loss, or a tax credit carry forward if such settlement is required or expected in the event the uncertain tax position is disallowed. In situations where a net operating loss carry forward, a similar tax loss, or a tax credit carry forward is not available at the reporting date under the tax law of the applicable jurisdiction or the tax law of the jurisdiction does not require, and the entity does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. This ASU is effective prospectively for fiscal years, and interim periods within those years, beginning after December 15, 2013. Retrospective application is permitted. The adoption of this guidance did not have any significant impact on the Company’s consolidated financial statements. | ||||||||||||||||||||||||||||||||||||||||||||||
Reclassification, Policy [Policy Text Block] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||
(l) | (dd) | Reclassifications | ||||||||||||||||||||||||||||||||||||||||||||
Reclassifications | ||||||||||||||||||||||||||||||||||||||||||||||
Certain prior year amounts have been reclassified to conform to the current year presentation. These reclassifications have no effect on the accompanying consolidated statements of operations and cash flows. | ||||||||||||||||||||||||||||||||||||||||||||||
Certain prior year amounts have been reclassified to conform to the current year presentation. These reclassifications have no effect on the accompanying consolidated statements of operations and cash flows. | ||||||||||||||||||||||||||||||||||||||||||||||
Restatement_Tables
Restatement (Tables) | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2013 | |||||||||||||||||||||
Restatement of Prior Year Income [Abstract] | ' | ' | ||||||||||||||||||||
Restatement to Prior Year Income [Table Text Block] | ' | ' | ||||||||||||||||||||
The impact of these restatements on the previously issued financial statements is reflected in the following table: | The impact of these restatements on the previously issued financial statements is reflected in the following table: | |||||||||||||||||||||
For the three months ended September 30, 2013 | For the year ended December 31, 2012 | |||||||||||||||||||||
Consolidated Statements of Operations | Original | Restatement | Restated | Consolidated Statements of Operations | Original | Restatement | Restated | |||||||||||||||
Change in fair value of profit sharing liability | $ | 41,825 | $ | -2,661 | $ | 39,164 | Change in fair value of profit sharing liability | $ | - | $ | -22,499 | $ | -22,499 | |||||||||
Income from operations | 30,395 | -2,661 | 27,734 | Loss from operations | -72,958 | -22,499 | -95,457 | |||||||||||||||
Finance/interest expense | -25,503 | 2,661 | -22,842 | Finance/interest expense | -176,242 | 22,499 | -153,743 | |||||||||||||||
Other expense, net | -20,970 | 2,661 | -18,309 | Other expense, net | -158,184 | 22,499 | -135,685 | |||||||||||||||
For the nine months ended September 30, 2013 | For the year ended December 31, 2012 | |||||||||||||||||||||
Consolidated Statements of Operations | Original | Restatement | Restated | Consolidated Statements of Cash Flows | Original | Restatement | Restated | |||||||||||||||
Change in fair value of profit sharing liability | $ | 107,877 | $ | -12,440 | $ | 95,437 | Amortization of deferred financing cost on capital lease | $ | 43,122 | $ | -22,499 | $ | 20,623 | |||||||||
Income from operations | 25,175 | -12,440 | 12,735 | Change in fair value of profit sharing liability | - | 22,499 | 22,499 | |||||||||||||||
Finance/interest expense | -81,355 | 12,440 | -68,915 | |||||||||||||||||||
Other expense, net | -68,827 | 12,440 | -56,387 | |||||||||||||||||||
For the year ended December 31, 2011 | ||||||||||||||||||||||
For the nine months ended September 30, 2013 | Consolidated Statements of Operations | Original | Restatement | Restated | ||||||||||||||||||
Consolidated Statements of Cash Flows | Original | Restatement | Restated | Change in fair value of profit sharing liability | $ | - | $ | -14,047 | $ | -14,047 | ||||||||||||
Amortization of deferred financing cost on capital lease | $ | 27,778 | $ | -12,440 | $ | 15,338 | Loss from operations | -180,041 | -14,047 | -194,088 | ||||||||||||
Change in fair value of profit sharing liability | -107,877 | 12,440 | -95,437 | Finance/interest expense | -114,949 | 14,047 | -100,902 | |||||||||||||||
Other expense, net | -87,664 | 14,047 | -73,617 | |||||||||||||||||||
For the three months ended June 30, 2013 | ||||||||||||||||||||||
Consolidated Statements of Operations | Original | Restatement | Restated | For the year ended December 31, 2011 | ||||||||||||||||||
Change in fair value of profit sharing liability | $ | 14,160 | $ | -4,666 | $ | 9,494 | Consolidated Statements of Cash Flows | Original | Restatement | Restated | ||||||||||||
Loss from operations | -42,224 | -4,666 | -46,890 | Amortization of deferred financing cost on capital lease | $ | 27,704 | $ | -14,047 | $ | 13,657 | ||||||||||||
Finance/interest expense | -25,882 | 4,666 | -21,216 | Change in fair value of profit sharing liability | - | 14,047 | 14,047 | |||||||||||||||
Other expense, net | -21,444 | 4,666 | -16,778 | |||||||||||||||||||
For the six months ended June 30, 2013 | ||||||||||||||||||||||
Consolidated Statements of Operations | Original | Restatement | Restated | |||||||||||||||||||
Change in fair value of profit sharing liability | $ | 66,052 | $ | -9,779 | $ | 56,273 | ||||||||||||||||
Loss from operations | -5,220 | -9,779 | -14,999 | |||||||||||||||||||
Finance/interest expense | -55,852 | 9,779 | -46,073 | |||||||||||||||||||
Other expense, net | -47,857 | 9,779 | -38,078 | |||||||||||||||||||
For the six months ended June 30, 2013 | ||||||||||||||||||||||
Consolidated Statements of Cash Flows | Original | Restatement | Restated | |||||||||||||||||||
Amortization of deferred financing cost on capital lease | $ | 19,996 | $ | -9,779 | $ | 10,217 | ||||||||||||||||
Change in fair value of profit sharing liability | -66,052 | 9,779 | -56,273 | |||||||||||||||||||
For the three months ended March 31, 2013 | ||||||||||||||||||||||
Consolidated Statements of Operations | Original | Restatement | Restated | |||||||||||||||||||
Change in fair value of profit sharing liability | $ | 51,892 | $ | -5,113 | $ | 46,779 | ||||||||||||||||
Income from operations | 37,004 | -5,113 | 31,891 | |||||||||||||||||||
Finance/interest expense | -29,970 | 5,113 | -24,857 | |||||||||||||||||||
Other expense, net | -26,413 | 5,113 | -21,300 | |||||||||||||||||||
For the three months ended March 31, 2013 | ||||||||||||||||||||||
Consolidated Statements of Cash Flows | Original | Restatement | Restated | |||||||||||||||||||
Amortization of deferred financing cost on capital lease | $ | 10,208 | $ | -5,113 | $ | 5,095 | ||||||||||||||||
Change in fair value of profit sharing liability | -51,892 | 5,113 | -46,779 | |||||||||||||||||||
For the three months ended September 30, 2012 | ||||||||||||||||||||||
Consolidated Statements of Operations | Original | Restatement | Restated | |||||||||||||||||||
Change in fair value of profit sharing liability | $ | - | $ | -5,611 | $ | -5,611 | ||||||||||||||||
Loss from operations | -36,383 | -5,611 | -41,994 | |||||||||||||||||||
Finance/interest expense | -36,615 | 5,611 | -31,004 | |||||||||||||||||||
Other expense, net | -29,735 | 5,611 | -24,124 | |||||||||||||||||||
For the nine months ended September 30, 2012 | ||||||||||||||||||||||
Consolidated Statements of Operations | Original | Restatement | Restated | |||||||||||||||||||
Change in fair value of profit sharing liability | $ | - | $ | -16,861 | $ | -16,861 | ||||||||||||||||
Loss from operations | -41,470 | -16,861 | -58,331 | |||||||||||||||||||
Finance/interest expense | -138,929 | 16,861 | -122,068 | |||||||||||||||||||
Other expense, net | -121,946 | 16,861 | -105,085 | |||||||||||||||||||
For the nine months ended September 30, 2012 | ||||||||||||||||||||||
Consolidated Statements of Cash Flows | Original | Restatement | Restated | |||||||||||||||||||
Amortization of deferred financing cost on capital lease | $ | 32,363 | $ | -16,861 | $ | 15,502 | ||||||||||||||||
Change in fair value of profit sharing liability | - | 16,861 | 16,861 | |||||||||||||||||||
For the three months ended June 30, 2012 | ||||||||||||||||||||||
Consolidated Statements of Operations | Original | Restatement | Restated | |||||||||||||||||||
Change in fair value of profit sharing liability | $ | - | $ | -5,620 | $ | -5,620 | ||||||||||||||||
Income from operations | 7,912 | -5,620 | 2,292 | |||||||||||||||||||
Finance/interest expense | -53,948 | 5,620 | -48,328 | |||||||||||||||||||
Other expense, net | -49,998 | 5,620 | -44,378 | |||||||||||||||||||
For the six months ended June 30, 2012 | ||||||||||||||||||||||
Consolidated Statements of Operations | Original | Restatement | Restated | |||||||||||||||||||
Change in fair value of profit sharing liability | $ | - | $ | -11,250 | $ | -11,250 | ||||||||||||||||
Loss from operations | -5,087 | -11,250 | -16,337 | |||||||||||||||||||
Finance/interest expense | -102,314 | 11,250 | -91,064 | |||||||||||||||||||
Other expense, net | -92,211 | 11,250 | -80,961 | |||||||||||||||||||
For the six months ended June 30, 2012 | ||||||||||||||||||||||
Consolidated Statements of Cash Flows | Original | Restatement | Restated | |||||||||||||||||||
Amortization of deferred financing cost on capital lease | $ | 21,627 | $ | -11,250 | $ | 10,377 | ||||||||||||||||
Change in fair value of profit sharing liability | - | 11,250 | 11,250 | |||||||||||||||||||
For the three months ended March 31, 2012 | ||||||||||||||||||||||
Consolidated Statements of Operations | Original | Restatement | Restated | |||||||||||||||||||
Change in fair value of profit sharing liability | $ | - | $ | -5,630 | $ | -5,630 | ||||||||||||||||
Loss from operations | -12,999 | -5,630 | -18,629 | |||||||||||||||||||
Finance/interest expense | -48,366 | 5,630 | -42,736 | |||||||||||||||||||
Other expense, net | -42,213 | 5,630 | -36,583 | |||||||||||||||||||
For the three months ended March 31, 2012 | ||||||||||||||||||||||
Consolidated Statements of Cash Flows | Original | Restatement | Restated | |||||||||||||||||||
Amortization of deferred financing cost on capital lease | $ | 10,839 | $ | -5,630 | $ | 5,209 | ||||||||||||||||
Change in fair value of profit sharing liability | - | 5,630 | 5,630 | |||||||||||||||||||
For the three months ended September 30, 2011 | ||||||||||||||||||||||
Consolidated Statements of Operations | Original | Restatement | Restated | |||||||||||||||||||
Change in fair value of profit sharing liability | $ | - | $ | -5,407 | $ | -5,407 | ||||||||||||||||
Income from operations | 9,741 | -5,407 | 4,334 | |||||||||||||||||||
Finance/interest expense | -35,081 | 5,407 | -29,674 | |||||||||||||||||||
Other expense, net | -31,517 | 5,407 | -26,110 | |||||||||||||||||||
For the nine months ended September 30, 2011 | ||||||||||||||||||||||
Consolidated Statements of Operations | Original | Restatement | Restated | |||||||||||||||||||
Change in fair value of profit sharing liability | $ | - | $ | -8,743 | $ | -8,743 | ||||||||||||||||
Loss from operations | -3,404 | -8,743 | -12,147 | |||||||||||||||||||
Finance/interest expense | -72,317 | 8,743 | -63,574 | |||||||||||||||||||
Other expense, net | -52,089 | 8,743 | -43,346 | |||||||||||||||||||
For the nine months ended September 30, 2011 | ||||||||||||||||||||||
Consolidated Statements of Cash Flows | Original | Restatement | Restated | |||||||||||||||||||
Amortization of deferred financing cost on capital lease | $ | 17,282 | $ | -8,743 | $ | 8,539 | ||||||||||||||||
Change in fair value of profit sharing liability | - | 8,743 | 8,743 | |||||||||||||||||||
For the three months ended June 30, 2011 | ||||||||||||||||||||||
Consolidated Statements of Operations | Original | Restatement | Restated | |||||||||||||||||||
Change in fair value of profit sharing liability | $ | - | $ | -3,336 | $ | -3,336 | ||||||||||||||||
Loss from operations | -3,693 | -3,336 | -7,029 | |||||||||||||||||||
Finance/interest expense | -23,117 | 3,336 | -19,781 | |||||||||||||||||||
Other expense, net | -13,702 | 3,336 | -10,366 | |||||||||||||||||||
For the six months ended June 30, 2011 | ||||||||||||||||||||||
Consolidated Statements of Operations | Original | Restatement | Restated | |||||||||||||||||||
Change in fair value of profit sharing liability | $ | - | $ | -3,336 | $ | -3,336 | ||||||||||||||||
Loss from operations | -13,145 | -3,336 | -16,481 | |||||||||||||||||||
Finance/interest expense | -37,236 | 3,336 | -33,900 | |||||||||||||||||||
Other expense, net | -20,572 | 3,336 | -17,236 | |||||||||||||||||||
For the six months ended June 30, 2011 | ||||||||||||||||||||||
Consolidated Statements of Cash Flows | Original | Restatement | Restated | |||||||||||||||||||
Amortization of deferred financing cost on capital lease | $ | 6,698 | $ | -3,336 | $ | 3,362 | ||||||||||||||||
Change in fair value of profit sharing liability | - | 3,336 | 3,336 | |||||||||||||||||||
Summary_of_significant_account2
Summary of significant accounting policies (Tables) | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||
Schedule of Subsidiary of Limited Liability Company or Limited Partnership, Description [Table Text Block] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||
The unaudited condensed consolidated financial statements of the Company reflect the activities of the following major directly owned subsidiaries: | The consolidated financial statements of the Company reflect the activities of the following major directly owned subsidiaries: | |||||||||||||||||||||||||||||||||||||||||||||
Subsidiary | Percentage | Percentage | ||||||||||||||||||||||||||||||||||||||||||||
of Ownership | Subsidiary | of Ownership | ||||||||||||||||||||||||||||||||||||||||||||
General Steel Investment Co., Ltd. | British Virgin Islands | 100 | % | General Steel Investment Co., Ltd. | British Virgin Islands | 100 | % | |||||||||||||||||||||||||||||||||||||||
General Steel (China) Co., Ltd. (“General Steel (China)”) | PRC | 100 | % | General Steel (China) Co., Ltd. (“General Steel (China)”) | PRC | 100 | % | |||||||||||||||||||||||||||||||||||||||
Baotou Steel – General Steel Special Steel Pipe Joint Venture Co., Ltd. | PRC | 80 | % | Baotou Steel – General Steel Special Steel Pipe Joint Venture Co., Ltd. | PRC | 80 | % | |||||||||||||||||||||||||||||||||||||||
Yangpu Shengtong Investment Co., Ltd. | PRC | 99.1 | % | Yangpu Shengtong Investment Co., Ltd. (“Yangpu Shengtong”) | PRC | 99.1 | % | |||||||||||||||||||||||||||||||||||||||
Tianjin Qiu Steel Investment Co., Ltd. (“Qiu Steel”) | PRC | 98.7 | % | Tianjin Qiu Steel Investment Co., Ltd. (“Qiu Steel”) | PRC | 98.7 | % | |||||||||||||||||||||||||||||||||||||||
Longmen Joint Venture | PRC | VIE/60.0 | % | Longmen Joint Venture | PRC | VIE/60.0 | % | |||||||||||||||||||||||||||||||||||||||
Maoming Hengda Steel Company, Ltd. (“Maoming Hengda”) | PRC | 99 | % | Maoming Hengda Steel Company, Ltd. (“Maoming Hengda”) | PRC | 99 | % | |||||||||||||||||||||||||||||||||||||||
Tianwu General Steel Material Trading Co., Ltd (“Tianwu Joint Venture”) | PRC | 60 | % | |||||||||||||||||||||||||||||||||||||||||||
Schedule Of Consolidated Assets and Liabilities Of Variable Interest Entities and Subsidiaries [Table Text Block] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||
The carrying amount of the VIE and its subsidiaries’ consolidated assets and liabilities are as follows: | The carrying amount of the VIE and its subsidiaries’ consolidated assets and liabilities are as follows: | |||||||||||||||||||||||||||||||||||||||||||||
September 30, 2013 | June 30, 2013 | March 31, 2013 | December 31, 2012 | December 31, 2013 | December 31, 2012 | December 31, 2011 | December 31, 2010 | |||||||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||||||||||||||||||||
Current assets | $ | 1,253,672 | $ | 1,129,402 | $ | 1,129,118 | $ | 1,285,967 | Current assets | $ | 1,282,054 | $ | 1,285,967 | $ | 1,674,171 | $ | 1,087,108 | |||||||||||||||||||||||||||||
Plant and equipment, net | 1,239,805 | 1,203,026 | 1,160,089 | 1,154,811 | Plant and equipment, net | 1,262,144 | 1,154,811 | 1,217,264 | 553,688 | |||||||||||||||||||||||||||||||||||||
Other noncurrent assets | 44,475 | 39,291 | 80,424 | 72,428 | Other noncurrent assets | 29,014 | 72,428 | 45,836 | 54,099 | |||||||||||||||||||||||||||||||||||||
Total assets | 2,537,952 | 2,371,719 | 2,369,631 | 2,513,206 | Total assets | 2,573,212 | 2,513,206 | 2,937,271 | 1,694,895 | |||||||||||||||||||||||||||||||||||||
Total liabilities | -3,006,938 | -2,852,083 | -2,784,151 | -2,943,761 | Total liabilities | -3,040,879 | -2,943,761 | -3,131,823 | -1,612,925 | |||||||||||||||||||||||||||||||||||||
Net liabilities | $ | -468,986 | $ | -480,364 | $ | -415,520 | $ | -430,555 | Net liabilities | $ | -467,667 | $ | -430,555 | $ | -194,552 | $ | 81,970 | |||||||||||||||||||||||||||||
September 30, 2012 | June 30, 2012 | March 31, 2012 | December 31, 2011 | |||||||||||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||||||||||||||||||||||||
Current assets | $ | 1,244,486 | $ | 1,409,756 | $ | 1,857,257 | $ | 1,674,171 | ||||||||||||||||||||||||||||||||||||||
Plant and equipment, net | 1,160,515 | 1,178,383 | 1,189,687 | 1,217,264 | ||||||||||||||||||||||||||||||||||||||||||
Other noncurrent assets | 29,665 | 37,851 | 36,069 | 45,836 | ||||||||||||||||||||||||||||||||||||||||||
Total assets | 2,434,666 | 2,625,990 | 3,083,013 | 2,937,271 | ||||||||||||||||||||||||||||||||||||||||||
Total liabilities | -2,827,446 | -2,952,712 | -3,370,233 | -3,132,766 | ||||||||||||||||||||||||||||||||||||||||||
Net liabilities | $ | -392,780 | $ | -326,722 | $ | -287,220 | $ | -195,495 | ||||||||||||||||||||||||||||||||||||||
September 30, 2011 | June 30, 2011 | December 31, 2010 | ||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||||||||||||||
Current assets | $ | 1,508,221 | $ | 1,203,128 | $ | 1,087,108 | ||||||||||||||||||||||||||||||||||||||||
Plant and equipment, net | 1,172,982 | 1,150,732 | 553,688 | |||||||||||||||||||||||||||||||||||||||||||
Other noncurrent assets | 42,995 | 44,641 | 54,099 | |||||||||||||||||||||||||||||||||||||||||||
Total assets | 2,724,198 | 2,398,501 | 1,694,895 | |||||||||||||||||||||||||||||||||||||||||||
Total liabilities | -2,720,490 | -2,369,035 | -1,612,925 | |||||||||||||||||||||||||||||||||||||||||||
Net liabilities | $ | 3,708 | $ | 29,466 | $ | 81,970 | ||||||||||||||||||||||||||||||||||||||||
Schedule Of Liabilities Of Variable Interest Entities and Subsidiaries [Table Text Block] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||
VIE and its subsidiaries’ liabilities consist of the following: | VIE and its subsidiaries’ liabilities consist of the following: | |||||||||||||||||||||||||||||||||||||||||||||
September 30, 2013 | June 30, 2013 | March 31, 2013 | December 31, 2012 | December 31, | December 31, | December 31, | December 31, | |||||||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||||||||||||||||||||||
Current liabilities: | (in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||||||||||||
Short term notes payable | $ | 950,498 | $ | 792,234 | $ | 785,296 | $ | 971,117 | Current liabilities: | |||||||||||||||||||||||||||||||||||||
Accounts payable | 466,631 | 395,962 | 386,434 | 324,563 | Short term notes payable | $ | 988,364 | $ | 971,117 | $ | 1,105,570 | $ | 447,992 | |||||||||||||||||||||||||||||||||
Accounts payable - related parties | 171,759 | 171,806 | 154,146 | 177,160 | Accounts payable | 393,816 | 324,563 | 401,158 | 230,753 | |||||||||||||||||||||||||||||||||||||
Short term loans - bank | 215,955 | 174,252 | 84,753 | 114,935 | Accounts payable - related parties | 235,116 | 177,160 | 81,403 | 56,742 | |||||||||||||||||||||||||||||||||||||
Short term loans - others | 123,974 | 145,086 | 141,956 | 141,290 | Short term loans - bank | 267,688 | 114,935 | 209,234 | 260,977 | |||||||||||||||||||||||||||||||||||||
Short term loans - related parties | 42,613 | 68,879 | 97,766 | 35,839 | Short term loans - others | 55,844 | 141,290 | 240,684 | 113,328 | |||||||||||||||||||||||||||||||||||||
Current maturities of long-term loans – related party | 56,372 | 56,026 | 55,196 | 54,885 | Short term loans - related parties | 125,236 | 35,839 | 15,710 | 14,548 | |||||||||||||||||||||||||||||||||||||
Other payables and accrued liabilities | 43,978 | 41,372 | 38,490 | 29,769 | Current maturities of long-term loans – related party | 56,614 | 54,885 | - | - | |||||||||||||||||||||||||||||||||||||
Other payables - related parties | 96,901 | 91,623 | 67,261 | 64,941 | Other payables and accrued liabilities | 37,028 | 29,769 | 31,249 | 27,932 | |||||||||||||||||||||||||||||||||||||
Customer deposits | 94,767 | 121,736 | 104,328 | 109,120 | Other payables - related parties | 88,914 | 64,941 | 20,677 | 2,132 | |||||||||||||||||||||||||||||||||||||
Customer deposits - related parties | 14,512 | 7,798 | 12,649 | 21,998 | Customer deposits | 87,661 | 109,120 | 84,767 | 129,832 | |||||||||||||||||||||||||||||||||||||
Deposit due to sales representatives | 28,184 | 30,800 | 40,484 | 33,870 | Customer deposits - related parties | 18,359 | 21,998 | 66,932 | 53,624 | |||||||||||||||||||||||||||||||||||||
Deposit due to sales representatives – related parties | 1,809 | 1,798 | 1,772 | 1,238 | Deposit due to sales representatives | 24,343 | 33,870 | 22,890 | 52,079 | |||||||||||||||||||||||||||||||||||||
Taxes payable | 8,258 | 9,050 | 11,106 | 15,339 | Deposit due to sales representatives – related parties | 1,997 | 1,238 | - | - | |||||||||||||||||||||||||||||||||||||
Deferred lease income | 2,178 | 2,164 | 2,132 | 2,120 | Taxes payable | 3,357 | 15,339 | 5,386 | 5,159 | |||||||||||||||||||||||||||||||||||||
Intercompany payable to be eliminated | - | 17,320 | 21,576 | 30,476 | Deferred lease income | 2,187 | 2,120 | 2,099 | 1,971 | |||||||||||||||||||||||||||||||||||||
Total current liabilities | 2,318,416 | 2,127,906 | 2,005,345 | 2,128,660 | Capital lease obligations, current | 4,321 | - | 25,607 | - | |||||||||||||||||||||||||||||||||||||
Non-current liabilities: | Intercompany payable to be eliminated | 21,420 | 30,476 | 66,021 | 69,216 | |||||||||||||||||||||||||||||||||||||||||
Long term loans - related parties | 15,974 | 21,148 | 38,304 | 38,088 | Total current liabilities | 2,412,265 | 2,128,660 | 2,379,387 | 1,466,285 | |||||||||||||||||||||||||||||||||||||
Long-term other payable – related party | - | - | 43,252 | 43,008 | Non-current liabilities: | |||||||||||||||||||||||||||||||||||||||||
Deferred lease income | 75,480 | 75,558 | 74,971 | 75,079 | Long term loans - related parties | 16,043 | 38,088 | 92,035 | 91,020 | |||||||||||||||||||||||||||||||||||||
Capital lease obligations, noncurrent | 354,576 | 347,290 | 337,075 | 330,099 | Long-term other payable – related party | - | 43,008 | - | - | |||||||||||||||||||||||||||||||||||||
Profit sharing liability at fair value | 241,090 | 278,788 | 283,831 | 328,827 | Deferred lease income - noncurrent | 75,257 | 75,079 | 76,425 | 55,620 | |||||||||||||||||||||||||||||||||||||
Other noncurrent liabilities | 1,402 | 1,393 | 1,373 | - | Capital lease obligations, noncurrent | 375,019 | 330,099 | 280,743 | - | |||||||||||||||||||||||||||||||||||||
Total non-current liabilities | 688,522 | 724,177 | 778,806 | 815,101 | Profit sharing liability at fair value | 162,295 | 328,827 | 303,233 | - | |||||||||||||||||||||||||||||||||||||
Total liabilities of consolidated VIE | $ | 3,006,938 | $ | 2,852,083 | $ | 2,784,151 | $ | 2,943,761 | Total non-current liabilities | 628,614 | 815,101 | 752,436 | 146,640 | |||||||||||||||||||||||||||||||||
Total liabilities of consolidated VIE | $ | 3,040,879 | $ | 2,943,761 | $ | 3,131,823 | $ | 1,612,925 | ||||||||||||||||||||||||||||||||||||||
September 30, 2012 | June 30, 2012 | March 31, 2012 | December 31, 2011 | |||||||||||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||||||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||||||||||||||||||||||||||||
Short term notes payable | $ | 855,105 | $ | 897,982 | $ | 1,227,564 | $ | 1,105,570 | ||||||||||||||||||||||||||||||||||||||
Accounts payable | 296,300 | 353,215 | 253,936 | 401,158 | ||||||||||||||||||||||||||||||||||||||||||
Accounts payable - related parties | 117,601 | 116,479 | 156,738 | 81,403 | ||||||||||||||||||||||||||||||||||||||||||
Short term loans - bank | 102,895 | 160,162 | 277,136 | 209,234 | ||||||||||||||||||||||||||||||||||||||||||
Short term loans - others | 206,702 | 234,099 | 293,686 | 240,684 | ||||||||||||||||||||||||||||||||||||||||||
Short term loans - related parties | 45,506 | 15,892 | 31,682 | 15,710 | ||||||||||||||||||||||||||||||||||||||||||
Current maturities of long-term loans – related party | 49,997 | - | - | |||||||||||||||||||||||||||||||||||||||||||
Other payables and accrued liabilities | 34,379 | 35,140 | 25,819 | 31,249 | ||||||||||||||||||||||||||||||||||||||||||
Other payables - related parties | 105,402 | 120,104 | 85,053 | 20,677 | ||||||||||||||||||||||||||||||||||||||||||
Customer deposits | 80,219 | 88,172 | 75,495 | 84,767 | ||||||||||||||||||||||||||||||||||||||||||
Customer deposits - related parties | 83,233 | 39,134 | 49,483 | 66,932 | ||||||||||||||||||||||||||||||||||||||||||
Deposit due to sales representatives | 34,987 | 30,602 | 33,534 | 22,890 | ||||||||||||||||||||||||||||||||||||||||||
Deposit due to sales representatives – related parties | 1,235 | 1,236 | 1,236 | 943 | ||||||||||||||||||||||||||||||||||||||||||
Taxes payable | 5,472 | 5,583 | 4,478 | 5,386 | ||||||||||||||||||||||||||||||||||||||||||
Deferred lease income - current | 2,115 | 2,117 | 2,116 | 2,099 | ||||||||||||||||||||||||||||||||||||||||||
Intercompany payable to be eliminated | 41,582 | 47,276 | 57,518 | 66,021 | ||||||||||||||||||||||||||||||||||||||||||
Total current liabilities | 2,062,730 | 2,147,193 | 2,575,474 | 2,354,723 | ||||||||||||||||||||||||||||||||||||||||||
Non-current liabilities: | ||||||||||||||||||||||||||||||||||||||||||||||
Long term loans - related parties | 42,741 | 92,856 | 92,797 | 92,035 | ||||||||||||||||||||||||||||||||||||||||||
Deferred lease income - noncurrent | 75,418 | 76,043 | 76,524 | 76,425 | ||||||||||||||||||||||||||||||||||||||||||
Capital lease obligations | 324,171 | 319,446 | 314,080 | 306,350 | ||||||||||||||||||||||||||||||||||||||||||
Profit sharing liability | 322,386 | 317,174 | 311,358 | 303,233 | ||||||||||||||||||||||||||||||||||||||||||
Total non-current liabilities | 764,716 | 805,519 | 794,759 | 778,043 | ||||||||||||||||||||||||||||||||||||||||||
Total liabilities of consolidated VIE | $ | 2,827,446 | $ | 2,952,712 | $ | 3,370,233 | $ | 3,132,766 | ||||||||||||||||||||||||||||||||||||||
September 30, 2011 | June 30, 2011 | December 31, 2010 | ||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||||||||||||||||||||||||||||
Short term notes payable | $ | 548,671 | $ | 321,782 | $ | 447,992 | ||||||||||||||||||||||||||||||||||||||||
Accounts payable | 339,163 | 292,834 | 230,753 | |||||||||||||||||||||||||||||||||||||||||||
Accounts payable - related parties | 62,958 | 102,771 | 56,742 | |||||||||||||||||||||||||||||||||||||||||||
Short term loans - bank | 369,225 | 277,053 | 260,977 | |||||||||||||||||||||||||||||||||||||||||||
Short term loans - others | 221,249 | 84,018 | 113,328 | |||||||||||||||||||||||||||||||||||||||||||
Short term loans - related parties | 15,650 | 15,637 | 14,548 | |||||||||||||||||||||||||||||||||||||||||||
Other payables and accrued liabilities | 27,693 | 27,545 | 27,932 | |||||||||||||||||||||||||||||||||||||||||||
Other payables - related parties | 5,937 | 9,368 | 2,132 | |||||||||||||||||||||||||||||||||||||||||||
Customer deposits | 190,440 | 287,882 | 129,832 | |||||||||||||||||||||||||||||||||||||||||||
Customer deposits - related parties | 53,045 | 64,482 | 53,624 | |||||||||||||||||||||||||||||||||||||||||||
Deposit due to sales representatives | 21,488 | 23,660 | 52,079 | |||||||||||||||||||||||||||||||||||||||||||
Taxes payable | 10,604 | 11,188 | 5,159 | |||||||||||||||||||||||||||||||||||||||||||
Deferred lease income | 2,091 | 2,067 | 1,971 | |||||||||||||||||||||||||||||||||||||||||||
Capital lease obligations, current | 18,505 | 11,552 | - | |||||||||||||||||||||||||||||||||||||||||||
Intercompany payable to be eliminated | 71,485 | 58,582 | 69,216 | |||||||||||||||||||||||||||||||||||||||||||
Total current liabilities | 1,958,204 | 1,590,421 | 1,466,285 | |||||||||||||||||||||||||||||||||||||||||||
Non-current liabilities: | ||||||||||||||||||||||||||||||||||||||||||||||
Long term loans - related parties | 107,695 | 134,566 | 91,020 | |||||||||||||||||||||||||||||||||||||||||||
Deferred lease income - noncurrent | 76,358 | 76,282 | 55,620 | |||||||||||||||||||||||||||||||||||||||||||
Capital lease obligations, noncurrent | 281,510 | 282,895 | - | |||||||||||||||||||||||||||||||||||||||||||
Profit sharing liability at fair value | 296,723 | 284,871 | - | |||||||||||||||||||||||||||||||||||||||||||
Total non-current liabilities | 762,286 | 778,614 | 146,640 | |||||||||||||||||||||||||||||||||||||||||||
Total liabilities of consolidated VIE | $ | 2,720,490 | $ | 2,369,035 | $ | 1,612,925 | ||||||||||||||||||||||||||||||||||||||||
Schedule Of Statement Of Operations Of Variable Interest Entities and Subsidiaries [Table Text Block] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||
VIE and its subsidiaries’ statements of operations are as follows: | For the year ended | For the year ended | For the year ended | For the year ended | ||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | December 31, 2011 | December 31, 2010 | |||||||||||||||||||||||||||||||||||||||||||
Three months ended | Three months ended | (in thousands) | (in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||||||||||||||||||||||
September 30, 2013 | September 30, 2012 | Sales | $ | 2,450,256 | $ | 2,837,608 | $ | 3,496,551 | $ | 1,846,080 | ||||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | Gross (loss) profit | $ | -56,065 | $ | 29,512 | $ | -86,308 | $ | 32,751 | ||||||||||||||||||||||||||||||||||||
Sales | $ | 606,444 | $ | 708,974 | Income (loss) from operations | $ | 45,161 | $ | -68,081 | $ | -175,104 | $ | -8,073 | |||||||||||||||||||||||||||||||||
Gross profit (loss) | $ | 8,122 | $ | -18,417 | Net loss attributable to controlling interest | $ | -16,457 | $ | -114,936 | $ | -161,897 | $ | -32,668 | |||||||||||||||||||||||||||||||||
Income (loss) from operations | $ | 30,306 | $ | -42,611 | ||||||||||||||||||||||||||||||||||||||||||
Net income (loss) attributable to controlling interest | $ | 8,284 | $ | -39,494 | ||||||||||||||||||||||||||||||||||||||||||
Three months ended | Three months ended | |||||||||||||||||||||||||||||||||||||||||||||
September 30, 2011 | September 30, 2010 | |||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | |||||||||||||||||||||||||||||||||||||||||||||
Sales | $ | 986,938 | $ | 455,028 | ||||||||||||||||||||||||||||||||||||||||||
Gross profit (loss) | $ | 29,400 | $ | 14,304 | ||||||||||||||||||||||||||||||||||||||||||
Income (loss) from operations | $ | 1,773 | $ | 6,734 | ||||||||||||||||||||||||||||||||||||||||||
Net income (loss) attributable to controlling interest | $ | -14,766 | $ | -1,351 | ||||||||||||||||||||||||||||||||||||||||||
Nine months ended | Nine months ended | |||||||||||||||||||||||||||||||||||||||||||||
September 30, 2013 | September 30, 2012 | |||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | |||||||||||||||||||||||||||||||||||||||||||||
Sales | $ | 1,903,933 | $ | 2,126,556 | ||||||||||||||||||||||||||||||||||||||||||
Gross profit (loss) | $ | -23,704 | $ | 12,628 | ||||||||||||||||||||||||||||||||||||||||||
Income (loss) from operations | $ | 20,558 | $ | -56,932 | ||||||||||||||||||||||||||||||||||||||||||
Net loss attributable to controlling interest | $ | -18,335 | $ | -92,974 | ||||||||||||||||||||||||||||||||||||||||||
Nine months ended | Nine months ended | |||||||||||||||||||||||||||||||||||||||||||||
September 30, 2011 | September 30, 2010 | |||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | |||||||||||||||||||||||||||||||||||||||||||||
Sales | $ | 2,752,918 | $ | 1,389,215 | ||||||||||||||||||||||||||||||||||||||||||
Gross profit (loss) | $ | 56,215 | $ | 28,450 | ||||||||||||||||||||||||||||||||||||||||||
Income (loss) from operations | $ | -5,599 | $ | 1,905 | ||||||||||||||||||||||||||||||||||||||||||
Net loss attributable to controlling interest | $ | -44,654 | $ | -15,913 | ||||||||||||||||||||||||||||||||||||||||||
Three months ended | Three months ended | |||||||||||||||||||||||||||||||||||||||||||||
June 30, 2013 | June 30, 2012 | |||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | |||||||||||||||||||||||||||||||||||||||||||||
Sales | $ | 650,741 | $ | 774,306 | ||||||||||||||||||||||||||||||||||||||||||
Gross profit (loss) | $ | -36,193 | $ | 25,770 | ||||||||||||||||||||||||||||||||||||||||||
Income (loss) from operations | $ | -44,685 | $ | 2,903 | ||||||||||||||||||||||||||||||||||||||||||
Net loss attributable to controlling interest | $ | -34,944 | $ | -23,132 | ||||||||||||||||||||||||||||||||||||||||||
Three months ended | Three months ended | |||||||||||||||||||||||||||||||||||||||||||||
June 30, 2011 | June 30, 2010 | |||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | |||||||||||||||||||||||||||||||||||||||||||||
Sales | $ | 1,056,675 | $ | 499,361 | ||||||||||||||||||||||||||||||||||||||||||
Gross profit (loss) | $ | 22,300 | $ | 8,120 | ||||||||||||||||||||||||||||||||||||||||||
Income (loss) from operations | $ | 138 | $ | -1,046 | ||||||||||||||||||||||||||||||||||||||||||
Net loss attributable to controlling interest | $ | -19,707 | $ | -7,472 | ||||||||||||||||||||||||||||||||||||||||||
Six months ended | Six months ended | |||||||||||||||||||||||||||||||||||||||||||||
June 30, 2013 | June 30, 2012 | |||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | |||||||||||||||||||||||||||||||||||||||||||||
Sales | $ | 1,297,489 | $ | 1,417,582 | ||||||||||||||||||||||||||||||||||||||||||
Gross profit (loss) | $ | -31,826 | $ | 31,045 | ||||||||||||||||||||||||||||||||||||||||||
Loss from operations | $ | -9,748 | $ | -14,321 | ||||||||||||||||||||||||||||||||||||||||||
Net loss attributable to controlling interest | $ | -26,619 | $ | -53,480 | ||||||||||||||||||||||||||||||||||||||||||
Six months ended | Six months ended | |||||||||||||||||||||||||||||||||||||||||||||
June 30, 2011 | June 30, 2010 | |||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | |||||||||||||||||||||||||||||||||||||||||||||
Sales | $ | 1,765,980 | $ | 934,187 | ||||||||||||||||||||||||||||||||||||||||||
Gross profit (loss) | $ | 26,818 | $ | 14,146 | ||||||||||||||||||||||||||||||||||||||||||
Loss from operations | $ | -7,370 | $ | -4,828 | ||||||||||||||||||||||||||||||||||||||||||
Net loss attributable to controlling interest | $ | -29,885 | $ | -14,562 | ||||||||||||||||||||||||||||||||||||||||||
Three months ended | Three months ended | Three months ended | ||||||||||||||||||||||||||||||||||||||||||||
March 31, 2013 | March, 2012 | March, 2011 | ||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||||||||||||||
Sales | $ | 646,748 | $ | 643,276 | $ | 709,305 | ||||||||||||||||||||||||||||||||||||||||
Gross profit | $ | 4,367 | $ | 5,275 | $ | 4,518 | ||||||||||||||||||||||||||||||||||||||||
Income (loss) from operations | $ | 34,937 | $ | -17,224 | $ | -7,508 | ||||||||||||||||||||||||||||||||||||||||
Net income (loss) attributable to controlling interest | $ | 8,325 | $ | -30,348 | $ | -10,178 | ||||||||||||||||||||||||||||||||||||||||
Schedule of Line of Credit Facilities [Table Text Block] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||
Line of credit | The Company received lines of credit from the listed major banks totaling $230.7 million with expiration dates ranging from March 23, 2015 to July 17, 2015. | |||||||||||||||||||||||||||||||||||||||||||||
The Company received lines of credit from the listed major banks totaling $110.8 million with expiration dates ranging from September 27, 2014 to October 26, 2014. | Banks | Amount of | Repayment Date | |||||||||||||||||||||||||||||||||||||||||||
Line of Credit | ||||||||||||||||||||||||||||||||||||||||||||||
Banks | Amount of | Repayment Date | (in millions) | |||||||||||||||||||||||||||||||||||||||||||
Line of Credit | Bank of Chongqing | 49.1 | 23-Mar-15 | |||||||||||||||||||||||||||||||||||||||||||
(in millions) | Industrial Bank Co., Ltd. | 49.1 | 5-May-15 | |||||||||||||||||||||||||||||||||||||||||||
Bank of China | 6.5 | August 25, 2014 to October 26, 2014 | China Merchant Bank | 49.1 | 19-May-15 | |||||||||||||||||||||||||||||||||||||||||
China Everbright Bank | 48.9 | 8-Oct-14 | China CITIC Bank | 32.7 | 16-Jun-15 | |||||||||||||||||||||||||||||||||||||||||
Bank of Xi’an | 32.6 | 9-Oct-14 | Bank of Communication | 18 | 17-Jul-15 | |||||||||||||||||||||||||||||||||||||||||
Bank of Jinzhou | 22.8 | September 27, 2014* | Bank of Jinzhou | 32.7 | 23-Mar-15 | |||||||||||||||||||||||||||||||||||||||||
Total | $ | 110.8 | Total | $ | 230.7 | |||||||||||||||||||||||||||||||||||||||||
* Management expects the line of credit will be extended after September 27, 2014. | ||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||
The following table sets forth by level within the fair value hierarchy, the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis as of September 30, 2013: | ||||||||||||||||||||||||||||||||||||||||||||||
The following table sets forth by level within the fair value hierarchy, the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis as of December 31, 2013: | ||||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | Carrying Value as | Fair Value Measurements at September 30, | ||||||||||||||||||||||||||||||||||||||||||||
of September 30, | 2013 | Carrying Value as | Fair Value Measurements at December 31, | |||||||||||||||||||||||||||||||||||||||||||
2013 | Using Fair Value Hierarchy | of December 31, | 2013 | |||||||||||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | (in thousands) | 2013 | Using Fair Value Hierarchy | |||||||||||||||||||||||||||||||||||||||||
Profit sharing liability | $ | 241,090 | $ | - | $ | - | $ | 241,090 | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||||||||||||||
Total | $ | 241,090 | $ | - | $ | - | $ | 241,090 | Profit sharing liability | $ | 162,295 | $ | - | $ | - | $ | 162,295 | |||||||||||||||||||||||||||||
Total | $ | 162,295 | $ | - | $ | - | $ | 162,295 | ||||||||||||||||||||||||||||||||||||||
The following table sets forth by level within the fair value hierarchy, the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis as of June 30, 2013: | ||||||||||||||||||||||||||||||||||||||||||||||
The following table sets forth by level within the fair value hierarchy the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis as of December 31, 2012: | ||||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | Carrying Value as | Fair Value Measurements at June 30, 2013 | ||||||||||||||||||||||||||||||||||||||||||||
of June 30, 2013 | Using Fair Value Hierarchy | (in thousands) | Carrying Value as | Fair Value Measurements at December 31, | ||||||||||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | of December 31, | 2012 | ||||||||||||||||||||||||||||||||||||||||||
Profit sharing liability | $ | 278,788 | $ | - | $ | - | $ | 278,788 | 2012 | Using Fair Value Hierarchy | ||||||||||||||||||||||||||||||||||||
Total | $ | 278,788 | $ | - | $ | - | $ | 278,788 | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||||||||||||||
Derivative liabilities - warrants | $ | 1 | $ | - | $ | - | $ | 1 | ||||||||||||||||||||||||||||||||||||||
The following table sets forth by level within the fair value hierarchy, the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis as of March 31, 2013: | Profit sharing liability | 328,827 | - | - | 328,827 | |||||||||||||||||||||||||||||||||||||||||
Total | $ | 328,828 | $ | - | $ | - | $ | 328,828 | ||||||||||||||||||||||||||||||||||||||
(in thousands) | Carrying Value as | Fair Value Measurements at March 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||
of March 31, 2013 | Using Fair Value Hierarchy | |||||||||||||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | The following table sets forth by level within the fair value hierarchy the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis as of December 31, 2011: | |||||||||||||||||||||||||||||||||||||||||||
Profit sharing liability | $ | 283,831 | $ | - | $ | - | $ | 283,831 | ||||||||||||||||||||||||||||||||||||||
Total | $ | 283,831 | $ | - | $ | - | $ | 283,831 | (in thousands) | Carrying Value as | Fair Value Measurements at December 31, | |||||||||||||||||||||||||||||||||||
of December 31, | 2011 | |||||||||||||||||||||||||||||||||||||||||||||
The following table sets forth by level within the fair value hierarchy the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis as of December 31, 2012: | 2011 | Using Fair Value Hierarchy | ||||||||||||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | Carrying Value as | Fair Value Measurements at December 31, 2012 | Derivative liabilities - warrants | $ | 10 | $ | - | $ | - | $ | 10 | |||||||||||||||||||||||||||||||||||
of December 31, | Using Fair Value Hierarchy | Profit sharing liability | 303,233 | - | - | 303,233 | ||||||||||||||||||||||||||||||||||||||||
2012 | Total | $ | 303,243 | $ | - | $ | - | $ | 303,243 | |||||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||||||||||||||||||||||
Derivative liabilities | $ | 1 | $ | - | $ | - | $ | 1 | ||||||||||||||||||||||||||||||||||||||
Profit sharing liability | 328,827 | - | - | 328,827 | The following table sets forth by level within the fair value hierarchy the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis as of December 31, 2010: | |||||||||||||||||||||||||||||||||||||||||
Total | $ | 328,828 | $ | - | $ | - | $ | 328,828 | ||||||||||||||||||||||||||||||||||||||
(in thousands) | Carrying Value as | Fair Value Measurements at December 31, | ||||||||||||||||||||||||||||||||||||||||||||
The following table sets forth by level within the fair value hierarchy, the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis as of September 30, 2012: | of December 31, | 2010 | ||||||||||||||||||||||||||||||||||||||||||||
2010 | Using Fair Value Hierarchy | |||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | Carrying Value as | Fair Value Measurements at September 30, 2012 | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||||||||||||||||||||
of September 30, | Using Fair Value Hierarchy | Derivative liabilities - warrants | $ | 5,573 | $ | - | $ | - | $ | 5,573 | ||||||||||||||||||||||||||||||||||||
2012 | ||||||||||||||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||||||||||||||||||||||
Derivative liabilities | $ | 58 | $ | - | $ | - | $ | 58 | ||||||||||||||||||||||||||||||||||||||
Profit sharing liability | 322,386 | - | - | 322,386 | ||||||||||||||||||||||||||||||||||||||||||
Total | $ | 322,444 | $ | - | $ | - | $ | 322,444 | ||||||||||||||||||||||||||||||||||||||
The following table sets forth by level within the fair value hierarchy, the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis as of June 30, 2012: | ||||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | Carrying Value as | Fair Value Measurements at June 30, 2012 | ||||||||||||||||||||||||||||||||||||||||||||
of June 30, 2012 | Using Fair Value Hierarchy | |||||||||||||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||||||||||||||||||||||
Derivative liabilities | $ | 3 | $ | - | $ | - | $ | 3 | ||||||||||||||||||||||||||||||||||||||
Profit sharing liability | 317,174 | - | - | 317,174 | ||||||||||||||||||||||||||||||||||||||||||
Total | $ | 317,177 | $ | - | $ | - | $ | 317,177 | ||||||||||||||||||||||||||||||||||||||
The following table sets forth by level within the fair value hierarchy, the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis as of March 31, 2012: | ||||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | Carrying Value as | Fair Value Measurements at March 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||
of March 31, 2012 | Using Fair Value Hierarchy | |||||||||||||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||||||||||||||||||||||
Derivative liabilities | $ | 23 | $ | - | $ | - | $ | 23 | ||||||||||||||||||||||||||||||||||||||
Profit sharing liability | 311,358 | - | - | 311,358 | ||||||||||||||||||||||||||||||||||||||||||
Total | $ | 311,381 | $ | - | $ | - | $ | 311,381 | ||||||||||||||||||||||||||||||||||||||
The following table sets forth by level within the fair value hierarchy the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis as of December 31, 2011: | ||||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | Carrying Value as | Fair Value Measurements at December 31, 2011 | ||||||||||||||||||||||||||||||||||||||||||||
of December 31, | Using Fair Value Hierarchy | |||||||||||||||||||||||||||||||||||||||||||||
2011 | ||||||||||||||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||||||||||||||||||||||
Derivative liabilities | $ | 10 | $ | - | $ | - | $ | 10 | ||||||||||||||||||||||||||||||||||||||
Profit sharing liability | 303,233 | - | - | 303,233 | ||||||||||||||||||||||||||||||||||||||||||
Total | $ | 303,243 | $ | - | $ | - | $ | 303,243 | ||||||||||||||||||||||||||||||||||||||
The following table sets forth by level within the fair value hierarchy, the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis as of September 30, 2011: | ||||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | Carrying Value | Fair Value Measurements at September 30, 2011 | ||||||||||||||||||||||||||||||||||||||||||||
as of | Using Fair Value Hierarchy | |||||||||||||||||||||||||||||||||||||||||||||
September 30, | ||||||||||||||||||||||||||||||||||||||||||||||
2011 | ||||||||||||||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||||||||||||||||||||||
Derivative liabilities | $ | 48 | $ | - | $ | - | $ | 48 | ||||||||||||||||||||||||||||||||||||||
Profit sharing liability | 296,723 | - | - | 296,723 | ||||||||||||||||||||||||||||||||||||||||||
Total | $ | 296,771 | $ | - | $ | - | $ | 296,771 | ||||||||||||||||||||||||||||||||||||||
The following table sets forth by level within the fair value hierarchy, the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis as of June 30, 2011: | ||||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | Carrying Value | Fair Value Measurements at June 30, 2011 | ||||||||||||||||||||||||||||||||||||||||||||
as of | Using Fair Value Hierarchy | |||||||||||||||||||||||||||||||||||||||||||||
June 30, 2011 | ||||||||||||||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||||||||||||||||||||||
Derivative liabilities | $ | 182 | $ | - | $ | - | $ | 182 | ||||||||||||||||||||||||||||||||||||||
Profit sharing liability | 284,871 | - | - | 284,871 | ||||||||||||||||||||||||||||||||||||||||||
Total | $ | 285,053 | $ | - | $ | - | $ | 285,053 | ||||||||||||||||||||||||||||||||||||||
The following table sets forth by level within the fair value hierarchy the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis as of December 31, 2010: | ||||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | Carrying Value as | Fair Value Measurements at December 31, 2010 | ||||||||||||||||||||||||||||||||||||||||||||
of December 31, | Using Fair Value Hierarchy | |||||||||||||||||||||||||||||||||||||||||||||
2010 | ||||||||||||||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||||||||||||||||||||||
Derivative liabilities | $ | 5,573 | $ | - | 5,573 | |||||||||||||||||||||||||||||||||||||||||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||
The following is a reconciliation of the beginning and ending balance of the assets and liabilities measured at fair value on a recurring basis for the following periods: | The following is a reconciliation of the beginning and ending balance of the assets and liabilities measured at fair value on a recurring basis for the years ended December 31, 2013, 2012, 2011 and 2010: | |||||||||||||||||||||||||||||||||||||||||||||
September 30, 2013 | June 30, 2013 | March 31, 2013 | December 31, 2012 | December 31, | December 31, | December 31, | December 31, | |||||||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 328,828 | $ | 328,828 | $ | 328,828 | $ | 303,243 | (in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||||
Change in fair value of profit sharing liability: | Beginning balance | $ | 328,828 | $ | 303,243 | $ | 5,573 | $ | 24,390 | |||||||||||||||||||||||||||||||||||||
Change in estimate of future operating profits | -99,170 | -63,537 | -51,892 | - | Initial measurement and recognition of the 40% profit sharing liability on April 29, 2011 | - | - | 280,857 | - | |||||||||||||||||||||||||||||||||||||
Change in discount rate | - | - | - | - | Change in fair value of profit sharing liability: | |||||||||||||||||||||||||||||||||||||||||
Change in the number of future periods over which the present value of future cash flows is estimated | 12,440 | 9,779 | 5,113 | 22,499 | Change in estimate of future operating profits | -174,821 | - | - | - | |||||||||||||||||||||||||||||||||||||
Difference between the previously estimated operating results for the current period and actual results | -8,707 | -2,515 | - | - | Change in discount rate | - | - | - | ||||||||||||||||||||||||||||||||||||||
Change of derivative liabilities charged to earnings | 1 | 1 | -1 | 9 | Change in the number of future periods over which the present value of future cash | 16,872 | 22,499 | 14,047 | - | |||||||||||||||||||||||||||||||||||||
Exchange rate effect | 7,698 | 6,232 | 1,783 | 3,077 | Difference between the previously estimated operating results for the current period and actual results | -16,620 | - | - | - | |||||||||||||||||||||||||||||||||||||
Ending balance | $ | 241,090 | $ | 278,788 | $ | 283,831 | $ | 328,828 | Current period interest expense accreted | - | - | - | 389 | |||||||||||||||||||||||||||||||||
Current period payments made for principal and stated interest | - | - | - | -217 | ||||||||||||||||||||||||||||||||||||||||||
September 30, 2012 | June 30, 2012 | March 31, 2012 | December 31, 2011 | Current period note converted carrying value | - | - | - | -3,934 | ||||||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | Change in derivative liabilities - warrants | 1 | 9 | -5,563 | -15,055 | ||||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 303,243 | $ | 303,243 | $ | 303,243 | $ | 5,573 | Exchange rate effect | 8,035 | 3,077 | 8,329 | - | |||||||||||||||||||||||||||||||||
Initial measurement and recognition of the 40% profit sharing liability on April 29, 2011 | - | - | - | 280,857 | Ending balance | $ | 162,295 | $ | 328,828 | $ | 303,243 | $ | 5,573 | |||||||||||||||||||||||||||||||||
Change in fair value of profit sharing liability: | ||||||||||||||||||||||||||||||||||||||||||||||
Change in estimate of future operating profits | - | - | - | - | ||||||||||||||||||||||||||||||||||||||||||
Change in discount rate | - | - | - | - | ||||||||||||||||||||||||||||||||||||||||||
Change in the number of future periods over which the present value of future cash flows is estimated | 16,860 | 11,250 | 5,630 | 14,047 | ||||||||||||||||||||||||||||||||||||||||||
Difference between the previously estimated operating results for the current period and actual results | - | - | - | - | ||||||||||||||||||||||||||||||||||||||||||
Change of derivative liabilities charged to earnings | 48 | -7 | 13 | -5,563 | ||||||||||||||||||||||||||||||||||||||||||
Exchange rate effect | 2,293 | 2,691 | 2,495 | 8,329 | ||||||||||||||||||||||||||||||||||||||||||
Ending balance | $ | 322,444 | $ | 317,177 | $ | 311,381 | $ | 303,243 | ||||||||||||||||||||||||||||||||||||||
September 30, 2011 | June 30, 2011 | December 31, 2010 | ||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 5,573 | $ | 5,573 | $ | 24,390 | ||||||||||||||||||||||||||||||||||||||||
Initial measurement and recognition of the 40% profit sharing liability on April 29, 2011 | 280,857 | 280,857 | - | |||||||||||||||||||||||||||||||||||||||||||
Change in fair value of profit sharing liability: | ||||||||||||||||||||||||||||||||||||||||||||||
Change in estimate of future operating profits | - | - | - | |||||||||||||||||||||||||||||||||||||||||||
Change in discount rate | - | - | - | |||||||||||||||||||||||||||||||||||||||||||
Change in the number of future periods over which the present value of future cash flows is estimated | 8,743 | 3,336 | - | |||||||||||||||||||||||||||||||||||||||||||
Difference between the previously estimated operating results for the current period and actual results | - | - | - | |||||||||||||||||||||||||||||||||||||||||||
Current period interest expense accreted | - | - | 389 | |||||||||||||||||||||||||||||||||||||||||||
Current period payments made for principal and stated interest | - | - | -217 | |||||||||||||||||||||||||||||||||||||||||||
Current period note converted carrying value | - | - | -3,934 | |||||||||||||||||||||||||||||||||||||||||||
Change of derivative liabilities charged to earnings | -5,526 | -5,391 | -15,055 | |||||||||||||||||||||||||||||||||||||||||||
Exchange rate effect | 7,124 | 678 | ||||||||||||||||||||||||||||||||||||||||||||
Ending balance | $ | 296,771 | $ | 285,053 | $ | 5,573 | ||||||||||||||||||||||||||||||||||||||||
Schedule Of Property Plant and Equipment Estimated Useful Life [Table Text Block] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||
(j) | Plant and equipment, net | The estimated useful lives are as follows: | ||||||||||||||||||||||||||||||||||||||||||||
Plant and equipment are stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the assets with a 3%-5% residual value. The depreciation expense on assets acquired under capital leases is included with depreciation expense on owned assets. The estimated useful lives are as follows: | Buildings and Improvements | 10-40 Years | ||||||||||||||||||||||||||||||||||||||||||||
Machinery | 10-30 Years | |||||||||||||||||||||||||||||||||||||||||||||
Buildings and Improvements | 10-40 Years | Machinery and equipment under capital lease | 10-20 Years | |||||||||||||||||||||||||||||||||||||||||||
Machinery | 10-30 Years | Other equipment | 5 Years | |||||||||||||||||||||||||||||||||||||||||||
Machinery and equipment under capital lease | 20 Years | Transportation Equipment | 5 Years | |||||||||||||||||||||||||||||||||||||||||||
Other equipment | 5 Years | |||||||||||||||||||||||||||||||||||||||||||||
Transportation Equipment | 5 Years | |||||||||||||||||||||||||||||||||||||||||||||
Schedule of Acquired Finite-Lived Intangible Assets by Major Class [Table Text Block] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||
Other than the land use rights that General Steel (China) acquired in 2001, the Company amortizes the land use rights over their 50 year term. | Other than the land use rights that General Steel (China) acquired in 2001, the Company amortizes the land use rights over their 50 year term. | |||||||||||||||||||||||||||||||||||||||||||||
Entity | Original Cost | Expires on | Entity | Original Cost | Expires on | |||||||||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | |||||||||||||||||||||||||||||||||||||||||||||
General Steel (China) | $ | 3,867 | 2050 & 2053 | General Steel (China) | $ | 3,884 | 2050 & 2053 | |||||||||||||||||||||||||||||||||||||||
Longmen Joint Venture | $ | 24,226 | 2048 & 2052 | Longmen Joint Venture | $ | 24,283 | 2048 & 2052 | |||||||||||||||||||||||||||||||||||||||
Maoming Hengda | $ | 2,705 | 2054 | Maoming Hengda | $ | 2,717 | 2054 | |||||||||||||||||||||||||||||||||||||||
Schedule Of Investments By Affiliates [Table Text Block] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||
The table below summarizes Longmen Joint Venture’s investment holdings as of September 30, 2013, June 30, 2013, March 31, 2013, December 31, 2012, September 30, 2012, June 30, 2012, March 31, 2012, December 31, 2011, September 30, 2011, June 30, 2011 and December 31, 2010. | The tables below summarize Longmen Joint Venture’s investment holdings as of December 31, 2013, 2012, 2011 and 2010. | |||||||||||||||||||||||||||||||||||||||||||||
Unconsolidated | Year | Owned | September 30, | June 30, | March 31, | December 31, | December 31, | December 31, | ||||||||||||||||||||||||||||||||||||||
entities | acquired | % | 2013 | 2013 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||||||
Net investment | Net investment | Net investment | Net investment | Unconsolidated entities | Year | Net investment | Owned | Net investment | Owned | |||||||||||||||||||||||||||||||||||||
(In thousands) | (In thousands) | (In thousands) | (In thousands) | acquired | (In thousands) | % | (In thousands) | % | ||||||||||||||||||||||||||||||||||||||
Xian Delong Powder Engineering Materials Co., Ltd. | 2007 | 24.1 | $ | 1,161 | $ | 1,106 | $ | 958 | 1,166 | Xi’an Delong Powder Engineering Materials Co., Ltd. | 2007 | $ | 1,215 | 24.1 | $ | 1,166 | 24.1 | |||||||||||||||||||||||||||||
Unconsolidated entities | Year | September 30, | Owned | June 30, | Owned | March 31, | Owned | December 31, | Owned | December 31, | December 31, | |||||||||||||||||||||||||||||||||||
acquired | 2012 | % | 2012 | % | 2012 | % | 2011 | % | 2011 | 2010 | ||||||||||||||||||||||||||||||||||||
Net investment | Net investment | Net investment | Net investment | Year | Net investment | Owned | Net investment | Owned | ||||||||||||||||||||||||||||||||||||||
(In thousands) | (In thousands) | (In thousands) | (In thousands) | Unconsolidated entities | acquired | (In thousands) | % | (In thousands) | % | |||||||||||||||||||||||||||||||||||||
Shaanxi Daxigou Mining Co., Ltd | 2004 | $ | - | - | $ | - | - | $ | - | - | $ | 8,304 | 22.1 | Xi’an Delong Powder Engineering Materials Co., Ltd. | 2007 | $ | 1,041 | 24.1 | $ | 1,236 | 27 | |||||||||||||||||||||||||
Huashan Metallurgical Equipment Co., Ltd. | 2003 | - | - | - | - | - | - | 3,067 | 25 | Shaanxi Daxigou Mining Co., Ltd | 2004 | 8,304 | 22.1 | 4,779 | 22.1 | |||||||||||||||||||||||||||||||
Shaanxi Long Steel Group Baoji Steel Rolling Co., Ltd | 2003 | - | - | - | - | - | - | 428 | 25 | Shaanxi Xinglong Thermoelectric Co., Ltd. | 2004-2007 | - | - | 8,534 | 20.7 | |||||||||||||||||||||||||||||||
Xian Delong Powder Engineering Materials Co., Ltd. | 2007 | 1,027 | 24.1 | 984 | 24.1 | 904 | 24.1 | 1,041 | 27 | Huashan Metallurgical Equipment Co., Ltd. | 2003 | 3,067 | 25 | 2,907 | 25 | |||||||||||||||||||||||||||||||
Total | $ | 1,027 | $ | 984 | $ | 904 | $ | 12,840 | Shaanxi Long Steel Group Baoji Steel Rolling Co., Ltd | 2003 | 428 | 23.8 | - | 25 | ||||||||||||||||||||||||||||||||
Total | $ | 12,840 | $ | 17,456 | ||||||||||||||||||||||||||||||||||||||||||
Unconsolidated entities | Year | September 30, | Owned | June 30, | Owned | December 31, | Owned | |||||||||||||||||||||||||||||||||||||||
acquired | 2011 | % | 2011 | % | 2010 | % | The table below summarizes General Steel (China)’s investment holding (see Note 3(a) - Basis of presentation) as of December 31, 2013 and 2012. | |||||||||||||||||||||||||||||||||||||||
Net investment | Net investment | Net investment | ||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | (In thousands) | (In thousands) | December 31, | December 31, | ||||||||||||||||||||||||||||||||||||||||||
Xi’an Delong Powder Engineering Materials Co., Ltd. | 2007 | $ | 1,014 | 24.1 | $ | 995 | 24.1 | $ | 1,236 | 27 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||
Shaanxi Daxigou Mining Co., Ltd | 2004 | 6,134 | 22.1 | 5,568 | 22.1 | 4,779 | 22.1 | Unconsolidated entities | Year | Net investment | Owned | Net investment | Owned | |||||||||||||||||||||||||||||||||
Shaanxi Xinglong Thermoelectric Co., Ltd. | 2004-2007 | - | - | - | - | 8,534 | 20.7 | acquired | (In thousands) | % | (In thousands) | % | ||||||||||||||||||||||||||||||||||
Huashan Metallurgical Equipment Co., Ltd. | 2003 | 2,998 | 25 | 3,009 | 25 | 2,907 | 25 | Tianwu General Steel Material Trading Co., Ltd. | 2010 | $ | 15,728 | 32 | $ | 1,064 | 32 | |||||||||||||||||||||||||||||||
Shaanxi Long Steel Group Baoji Steel Rolling Co., Ltd | 2003 | 376 | 23.8 | 235 | 23.8 | - | 25 | |||||||||||||||||||||||||||||||||||||||
Total | $ | 10,522 | $ | 9,807 | $ | 17,456 | ||||||||||||||||||||||||||||||||||||||||
Longmen Joint Venture [Member] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Estimated Cash Flow [Table Text Block] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||
The detailed breakdown of Longmen Joint Venture’s estimated cash flows items are listed below. | The detailed breakdown of Longmen Joint Venture’s estimated cash flows items are listed below. | |||||||||||||||||||||||||||||||||||||||||||||
Cash inflow (outflow) | ||||||||||||||||||||||||||||||||||||||||||||||
Cash inflow (outflow) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||
(in millions) | For the twelve months | |||||||||||||||||||||||||||||||||||||||||||||
For the twelve months ended | ended December 31, | |||||||||||||||||||||||||||||||||||||||||||||
September 30, 2014 | 2014 | |||||||||||||||||||||||||||||||||||||||||||||
Current liabilities over current assets (excluding non-cash items) as of September 30, 2013 (unaudited) | $ | -1,072.00 | Current liabilities over current assets (excluding non-cash items) as of December 31, 2013 | $ | -1,179.20 | |||||||||||||||||||||||||||||||||||||||||
Projected cash financing and outflows: | Projected cash financing and outflows: | |||||||||||||||||||||||||||||||||||||||||||||
Cash provided by line of credit from banks | 110.8 | Cash provided by line of credit from banks | 230.7 | |||||||||||||||||||||||||||||||||||||||||||
Cash provided by vendor financing | 815 | Cash provided by vendor financing | 818.5 | |||||||||||||||||||||||||||||||||||||||||||
Cash provided by financing sales | 81.5 | Cash provided by other financing | 217.7 | |||||||||||||||||||||||||||||||||||||||||||
Cash provided by other financing | 77.4 | Cash provided by sales representatives | 26.3 | |||||||||||||||||||||||||||||||||||||||||||
Cash provided by sales representatives | 30 | Cash projected to be used in operations in the twelve months ended December 31, 2014 | -35.4 | |||||||||||||||||||||||||||||||||||||||||||
Cash projected to be used in operations in the twelve months ended September 30, 2014 | -28.6 | Cash projected to be used for financing cost in the twelve months ended December 31, 2014 | -55.2 | |||||||||||||||||||||||||||||||||||||||||||
Net projected change in cash for the twelve months ended September 30, 2014 | $ | 14.1 | Net projected change in cash for the twelve months ended December 31, 2014 | $ | 23.4 | |||||||||||||||||||||||||||||||||||||||||
Vendor Financing [Member] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Estimated Cash Flow [Table Text Block] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||
Longmen Joint Venture signed additional vendor financing agreements, which will provide liquidity to the Company in a total amount of $815.0 million with the following companies: | Longmen Joint Venture signed additional vendor financing agreements, which will provide liquidity to the Company in a total amount of $818.5 million with the following companies: | |||||||||||||||||||||||||||||||||||||||||||||
Company | Financing period covered | Financing Amount | Company | Financing period covered | Financing Amount | |||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||
Company A – related party | January 6, 2013 – January 5, 2015 | $ | 163 | Company A – related party | July 1, 2013 – June 30, 2015 | $ | 163.7 | |||||||||||||||||||||||||||||||||||||||
Company B – third party | January 6, 2013 – November 7, 2015 | 163 | Company B – third party | January 22, 2014 – January 22, 2017 | 163.7 | |||||||||||||||||||||||||||||||||||||||||
Company C – third party | October 1, 2013 – March 31, 2015 | 489 | Company C – third party | October 1, 2013 – March 31, 2015 | 491.1 | |||||||||||||||||||||||||||||||||||||||||
Total | $ | 815 | Total | $ | 818.5 | |||||||||||||||||||||||||||||||||||||||||
Other Financing [Member] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Estimated Cash Flow [Table Text Block] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||
On January 7, 2013, November 6, 2013 and November 7, 2013, Longmen Joint Venture signed a payment extension agreement with each company listed below. In total, Longmen Joint Venture can get $77.4 million in financial support from a two-year balancing payment extension granted by the following five companies: | On February 20, 2014 and March 5, 2014, Longmen Joint Venture signed a payment extension agreement with each company listed below. In total, Longmen Joint Venture can get $217.7 million in financial support from two-year and three-year balancing payment extensions granted by the following five companies: | |||||||||||||||||||||||||||||||||||||||||||||
Company | Financing period covered | Financing Amount | Company | Financing period covered | Financing Amount | |||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||
Company E – related party | January 7, 2013 – January 6, 2015 | $ | 16.3 | Company D – related party | February 20, 2014 – February 20, 2017 | $ | 32.7 | |||||||||||||||||||||||||||||||||||||||
Company F – related party | January 7, 2013 – January 6, 2015 | 21.2 | Company E – related party | February 20, 2014 – February 20, 2017 | 37.7 | |||||||||||||||||||||||||||||||||||||||||
Company G – related party | January 7, 2013 – January 6, 2015 | 7.3 | Company F – related party | February 20, 2014 – February 20, 2017 | 32.7 | |||||||||||||||||||||||||||||||||||||||||
Company H – related party | November 7, 2013 – November 7, 2015 | 16.3 | Company G – related party | March 5, 2014 – March 5, 2016 | 57.3 | |||||||||||||||||||||||||||||||||||||||||
Company I – related party | November 6, 2013 – November 6, 2015 | 16.3 | Company H – related party | March 5, 2014 – March 5, 2016 | 57.3 | |||||||||||||||||||||||||||||||||||||||||
Total | $ | 77.4 | Total | $ | 217.7 | |||||||||||||||||||||||||||||||||||||||||
Loans_receivable_related_parti1
Loans receivable - related parties (Tables) | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2013 | |||||||||||||||||||||||||||
Loans and Leases Receivable, Related Parties Disclosure [Abstract] | ' | ' | ||||||||||||||||||||||||||
Schedule Of Loans Receivable Related Parties Current [Table Text Block] | ' | ' | ||||||||||||||||||||||||||
The Company had the following loans receivable – related parties due within one year as of: | The Company had the following loans receivable – related parties due within one year as of: | |||||||||||||||||||||||||||
September 30, 2013 | June 30, 2013 | March 31, 2013 | December 31, 2012 | December 31, | December 31, | December 31, | December 31, | |||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||||
Loans to Long Steel Group; due on demand and non-interest bearing. | $ | - | $ | - | $ | - | $ | 63,319 | (in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||
Loan to Teamlink Investment Co., Ltd; due in December 2013, June 2014, and July 2014; interest rate was 4.75% | 4,540 | 6,000 | 6,000 | 6,000 | Loans to Long Steel Group; due on demand and non-interest bearing. | $ | - | $ | 63,319 | $ | - | $ | - | |||||||||||||||
Total loans receivable – related parties | $ | 4,540 | $ | 6,000 | $ | 6,000 | $ | 69,319 | Loan to Teamlink Investment Co., Ltd; due in June, July and December 2014; interest rate was 4.75% | 4,540 | 6,000 | - | - | |||||||||||||||
Total loans receivable – related parties | $ | 4,540 | $ | 69,319 | $ | - | $ | - | ||||||||||||||||||||
September 30, 2012 | June 30, 2012 | March 31, 2012 | December 31, 2011 | |||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||||||
Loans to Long Steel Group; due on demand and non-interest bearing. | $ | 63,159 | $ | 63,239 | $ | 63,199 | $ | - | ||||||||||||||||||||
Loan to Teamlink Investment Co., Ltd; due in June 2013; interest rate was 4.75% | 4,000 | 4,000 | - | - | ||||||||||||||||||||||||
Total loans receivable – related parties | $ | 67,159 | $ | 67,239 | $ | 63,199 | $ | - | ||||||||||||||||||||
Schedule Of Long Term Loans Receivable Related Parties [Table Text Block] | ' | ' | ||||||||||||||||||||||||||
The Company had the following long-term loan receivable – related party as of: | ||||||||||||||||||||||||||||
September 30, 2012 | June 30, 2012 | March 31, 2012 | December 31, 2011 | |||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||||||
Loan to Teamlink Investment Co., Ltd.; due in December 2013; interest rate was 4.75% | $ | 2,000 | $ | 2,000 | $ | 2,000 | $ | - | ||||||||||||||||||||
Total long-term loan receivable – related party | $ | 2,000 | $ | 2,000 | $ | 2,000 | $ | - | ||||||||||||||||||||
Accounts_receivable_including_1
Accounts receivable (including related parties), net (Tables) | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2013 | |||||||||||||||||||||||||||
Receivables [Abstract] | ' | ' | ||||||||||||||||||||||||||
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | ' | ' | ||||||||||||||||||||||||||
Accounts receivable, including related party receivables, net of allowance for doubtful accounts consists of the following: | Accounts receivable, including related party receivables, net of allowance for doubtful accounts consists of the following: | |||||||||||||||||||||||||||
September 30, | June 30, | March 31, | December 31, | December 31, | December 31, | December 31, | December 31, | |||||||||||||||||||||
2013 | 2013 | 2013 | 2012 | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||
Accounts receivable | $ | 9,729 | $ | 43,499 | $ | 18,489 | $ | 8,062 | Accounts receivable | $ | 5,131 | $ | 8,062 | $ | 14,624 | $ | 18,796 | |||||||||||
Less: allowance for doubtful accounts | -1,152 | -1,226 | -1,335 | -1,367 | Less: allowance for doubtful accounts | -1,053 | -1,367 | -2,023 | -296 | |||||||||||||||||||
Accounts receivable – related parties | 3,252 | 6,212 | 8,231 | 14,966 | Accounts receivable – related parties | 2,942 | 14,966 | 20,593 | 4,160 | |||||||||||||||||||
Net accounts receivable | $ | 11,829 | $ | 48,485 | $ | 25,385 | $ | 21,661 | Net accounts receivable | $ | 7,020 | $ | 21,661 | $ | 33,194 | $ | 22,660 | |||||||||||
September 30, | June 30, | March 31, | December 31, | |||||||||||||||||||||||||
2012 | 2012 | 2012 | 2011 | |||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||||||
Accounts receivable | $ | 9,299 | $ | 10,954 | $ | 20,602 | $ | 14,624 | ||||||||||||||||||||
Less: allowance for doubtful accounts | -1,643 | -2,027 | -2,025 | -2,023 | ||||||||||||||||||||||||
Accounts receivable – related parties | 28,346 | 87,373 | 53,056 | 20,593 | ||||||||||||||||||||||||
Net accounts receivable | $ | 36,002 | $ | 96,300 | $ | 71,633 | $ | 33,194 | ||||||||||||||||||||
September 30, 2011 | June 30, 2011 | December 31, 2010 | ||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||
Accounts receivable | $ | 38,383 | $ | 51,391 | $ | 18,796 | ||||||||||||||||||||||
Less: allowance for doubtful accounts | -21 | -18 | -296 | |||||||||||||||||||||||||
Accounts receivable – related parties | 10,594 | 43,500 | 4,160 | |||||||||||||||||||||||||
Net accounts receivable | $ | 48,956 | $ | 94,873 | $ | 22,660 | ||||||||||||||||||||||
Schedule Of Allowance For Doubtful Accounts Receivable [Table Text Block] | ' | ' | ||||||||||||||||||||||||||
Movement of allowance for doubtful accounts is as follows: | Movement of allowance for doubtful accounts is as follows: | |||||||||||||||||||||||||||
September 30, | June 30, | March 31, | December 31, | December 31, | December 31, | December 31, | December 31, | |||||||||||||||||||||
2013 | 2013 | 2013 | 2012 | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||
Beginning balance | $ | 1,367 | $ | 1,367 | $ | 1,367 | $ | 2,023 | Beginning balance | $ | 1,367 | $ | 2,023 | $ | 292 | $ | 490 | |||||||||||
Charge to expense | - | - | - | 433 | Charge to expense | 96 | 433 | 1,972 | 174 | |||||||||||||||||||
Less: recovery | -249 | -168 | -40 | -1,109 | Less: recovery | -449 | -1,109 | -284 | -386 | |||||||||||||||||||
Exchange rate effect | 34 | 27 | 8 | 20 | Exchange rate effect | 39 | 20 | 39 | 18 | |||||||||||||||||||
Ending balance | $ | 1,152 | $ | 1,226 | $ | 1,335 | $ | 1,367 | Ending balance | $ | 1,053 | $ | 1,367 | $ | 2,023 | $ | 296 | |||||||||||
September 30, | June 30, | March 31, | December 31, | |||||||||||||||||||||||||
2012 | 2012 | 2012 | 2011 | |||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||||||
Beginning balance | $ | 2,023 | $ | 2,023 | $ | 2,023 | $ | 292 | ||||||||||||||||||||
Charge to expense | 411 | - | - | 1,972 | ||||||||||||||||||||||||
Less: recovery | -807 | -14 | - | -284 | ||||||||||||||||||||||||
Exchange rate effect | 16 | 18 | 2 | 39 | ||||||||||||||||||||||||
Ending balance | $ | 1,643 | $ | 2,027 | $ | 2,025 | $ | 2,023 | ||||||||||||||||||||
September 30, 2011 | June 30, 2011 | December 31, 2010 | ||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||
Beginning balance | $ | 296 | $ | 296 | $ | 490 | ||||||||||||||||||||||
Charge to expense | - | - | 174 | |||||||||||||||||||||||||
Less: recovery | -280 | -280 | -386 | |||||||||||||||||||||||||
Exchange rate effect | 5 | 2 | 18 | |||||||||||||||||||||||||
Ending balance | $ | 21 | $ | 18 | $ | 296 | ||||||||||||||||||||||
Inventories_Tables
Inventories (Tables) | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2013 | |||||||||||||||||||||||||||
Inventory Disclosure [Abstract] | ' | ' | ||||||||||||||||||||||||||
Schedule of Inventory, Current [Table Text Block] | ' | ' | ||||||||||||||||||||||||||
Inventories consist of the following: | Inventories consist of the following: | |||||||||||||||||||||||||||
September 30, | June 30, | March 31, | December 31, | December 31, | December 31, | December 31, | December 31, | |||||||||||||||||||||
2013 | 2013 | 2013 | 2012 | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||
Supplies | $ | 23,302 | $ | 23,768 | $ | 23,609 | $ | 23,123 | Supplies | $ | 21,040 | $ | 23,123 | $ | 20,869 | $ | 13,733 | |||||||||||
Raw materials | 138,951 | 98,312 | 141,756 | 141,503 | Raw materials | 164,301 | 141,503 | 279,041 | 381,178 | |||||||||||||||||||
Finished goods | 22,527 | 51,980 | 96,030 | 57,630 | Finished goods | 42,977 | 57,630 | 35,962 | 59,813 | |||||||||||||||||||
Less: allowance for inventory valuation | -7,397 | -13,905 | -13,465 | -9,585 | Less: allowance for inventory valuation | -15,397 | -9,585 | -38,143 | -1,088 | |||||||||||||||||||
Total inventories | $ | 177,383 | $ | 160,155 | $ | 247,930 | $ | 212,671 | Total inventories | $ | 212,921 | $ | 212,671 | $ | 297,729 | $ | 453,636 | |||||||||||
September 30, | June 30, | March 31, | December 31, | |||||||||||||||||||||||||
2012 | 2012 | 2012 | 2011 | |||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||||||
Supplies | $ | 23,403 | $ | 24,428 | $ | 22,035 | $ | 20,869 | ||||||||||||||||||||
Raw materials | 132,626 | 232,418 | 276,931 | 279,041 | ||||||||||||||||||||||||
Finished goods | 83,456 | 83,366 | 74,528 | 35,962 | ||||||||||||||||||||||||
Less: allowance for inventory valuation | -13,995 | -16,911 | -13,430 | -38,143 | ||||||||||||||||||||||||
Total inventories | $ | 225,490 | $ | 323,301 | $ | 360,064 | $ | 297,729 | ||||||||||||||||||||
September 30, 2011 | June 30, 2011 | December 31, 2010 | ||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||
Supplies | $ | 41,103 | $ | 22,578 | $ | 13,733 | ||||||||||||||||||||||
Raw materials | 294,518 | 329,763 | 381,178 | |||||||||||||||||||||||||
Finished goods | 99,220 | 122,148 | 59,813 | |||||||||||||||||||||||||
Less: allowance for inventory valuation | -2,697 | -1,285 | -1,088 | |||||||||||||||||||||||||
Total inventories | $ | 432,144 | $ | 473,204 | $ | 453,636 | ||||||||||||||||||||||
Summary Of Inventory Valuation Allowance [Table Text Block] | ' | ' | ||||||||||||||||||||||||||
Movement of allowance for inventory valuation is as follows: | Movement of allowance for inventory valuation is as follows: | |||||||||||||||||||||||||||
September 30, | June 30, | March 31, | December 31, | December 31, | December 31, | December 31, | December 31, | |||||||||||||||||||||
2013 | 2013 | 2013 | 2012 | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||
Beginning balance | $ | 9,585 | $ | 9,585 | $ | 9,585 | $ | 38,143 | Beginning balance | $ | 9,585 | $ | 38,143 | $ | 1,088 | $ | - | |||||||||||
Addition | 7,305 | 13,757 | 13,441 | 9,582 | Addition | 15,194 | 9,582 | 37,512 | 1,061 | |||||||||||||||||||
Less: write-off | -9,722 | -9,681 | -9,623 | -38,519 | Less: write-off | -9,757 | -38,519 | -1,108 | - | |||||||||||||||||||
Exchange rate effect | 229 | 244 | 62 | 379 | Exchange rate effect | 375 | 379 | 651 | 27 | |||||||||||||||||||
Ending balance | $ | 7,397 | $ | 13,905 | $ | 13,465 | $ | 9,585 | Ending balance | $ | 15,397 | $ | 9,585 | $ | 38,143 | $ | 1,088 | |||||||||||
September 30, | June 30, | March 31, | December 31, | |||||||||||||||||||||||||
2012 | 2012 | 2012 | 2011 | |||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||||||
Beginning balance | $ | 38,143 | $ | 38,143 | $ | 38,143 | $ | - | ||||||||||||||||||||
Addition | 14,015 | 16,928 | 13,464 | 37,512 | ||||||||||||||||||||||||
Less: write-off | -38,488 | -38,522 | -38,556 | - | ||||||||||||||||||||||||
Exchange rate effect | 325 | 362 | 379 | 631 | ||||||||||||||||||||||||
Ending balance | $ | 13,995 | $ | 16,911 | $ | 13,430 | $ | 38,143 | ||||||||||||||||||||
September 30, 2011 | June 30, 2011 | December 31, 2010 | ||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||
Beginning balance | $ | 1,088 | $ | 1,088 | $ | - | ||||||||||||||||||||||
Addition | 2,656 | 1,266 | 1,061 | |||||||||||||||||||||||||
Less: write-off | -1,301 | -1,266 | - | |||||||||||||||||||||||||
Exchange rate effect | 254 | 197 | 27 | |||||||||||||||||||||||||
Ending balance | $ | 2,697 | $ | 1,285 | $ | 1,088 | ||||||||||||||||||||||
Plant_and_equipment_net_Tables
Plant and equipment, net (Tables) | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2013 | |||||||||||||||||||||||||||
Property, Plant and Equipment [Abstract] | ' | ' | ||||||||||||||||||||||||||
Property, Plant and Equipment [Table Text Block] | ' | ' | ||||||||||||||||||||||||||
Note 8 – Plant and equipment, net | Plant and equipment consist of the following: | |||||||||||||||||||||||||||
Plant and equipment consist of the following: | December 31, | December 31, | December 31, | December 31, | ||||||||||||||||||||||||
2013 | 2012 | 2011 | 2010 | |||||||||||||||||||||||||
September 30, | June 30, | March 31, | December 31, | (in thousands) | (in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||
2013 | 2013 | 2013 | 2012 | Buildings and improvements | $ | 274,402 | $ | 214,661 | $ | 183,343 | $ | 116,294 | ||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | Machinery | 667,093 | 573,572 | 621,463 | 502,958 | ||||||||||||||||||||
Buildings and improvements | $ | 253,621 | $ | 221,645 | $ | 216,924 | $ | 214,661 | Machinery under capital lease | 623,895 | 587,334 | 581,413 | - | |||||||||||||||
Machinery | 616,813 | 591,160 | 579,267 | 573,572 | Transportation and other equipment | 22,991 | 20,274 | 18,132 | 13,253 | |||||||||||||||||||
Machinery under capital lease | 603,248 | 599,547 | 590,665 | 587,334 | Construction in progress | 11,412 | 4,645 | 8,203 | 65,749 | |||||||||||||||||||
Transportation and other equipment | 22,085 | 21,840 | 21,197 | 20,274 | Subtotal | 1,599,793 | 1,400,486 | 1,412,554 | 698,254 | |||||||||||||||||||
Construction in progress | 58,111 | 60,380 | 19,232 | 4,645 | Less: accumulated depreciation | -327,886 | -232,650 | -155,318 | -95,642 | |||||||||||||||||||
Subtotal | 1,553,878 | 1,494,572 | 1,427,285 | 1,400,486 | Total | $ | 1,271,907 | $ | 1,167,836 | $ | 1,257,236 | $ | 602,612 | |||||||||||||||
Less: accumulated depreciation | -303,336 | -280,014 | -254,967 | -232,650 | ||||||||||||||||||||||||
Total | $ | 1,250,542 | $ | 1,214,558 | $ | 1,172,318 | $ | 1,167,836 | ||||||||||||||||||||
September 30, | June 30, | March 31, | December 31, | |||||||||||||||||||||||||
2012 | 2012 | 2012 | 2011 | |||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||||||
Buildings and improvements | $ | 186,986 | $ | 186,462 | $ | 182,925 | $ | 181,644 | ||||||||||||||||||||
Machinery | 615,099 | 607,181 | 603,931 | 623,162 | ||||||||||||||||||||||||
Machinery under capital lease | 585,854 | 586,594 | 586,224 | 581,413 | ||||||||||||||||||||||||
Transportation and other equipment | 18,893 | 18,991 | 18,431 | 18,132 | ||||||||||||||||||||||||
Construction in progress | 3,212 | 9,375 | 9,035 | 8,203 | ||||||||||||||||||||||||
Subtotal | 1,410,044 | 1,408,603 | 1,400,546 | 1,412,554 | ||||||||||||||||||||||||
Less: accumulated depreciation | -212,572 | -192,110 | -171,774 | -155,318 | ||||||||||||||||||||||||
Total | $ | 1,197,472 | $ | 1,216,493 | $ | 1,228,772 | $ | 1,257,236 | ||||||||||||||||||||
September 30, 2011 | June 30, 2011 | December 31, 2010 | ||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||
Buildings and improvements | $ | 173,838 | $ | 126,070 | $ | 116,294 | ||||||||||||||||||||||
Machinery | 548,662 | 515,350 | 502,958 | |||||||||||||||||||||||||
Machinery under capital lease | 579,192 | 572,531 | - | |||||||||||||||||||||||||
Transportation and other equipment | 17,178 | 15,483 | 13,253 | |||||||||||||||||||||||||
Construction in progress | 31,115 | 82,051 | 65,749 | |||||||||||||||||||||||||
Subtotal | 1,349,985 | 1,311,485 | 698,254 | |||||||||||||||||||||||||
Less: accumulated depreciation | -136,186 | -118,989 | -95,642 | |||||||||||||||||||||||||
Total | $ | 1,213,799 | $ | 1,192,496 | $ | 602,612 | ||||||||||||||||||||||
Schedule Of Construction In Progress [Table Text Block] | ' | ' | ||||||||||||||||||||||||||
Construction in progress consisted of the following as of September 30, 2013: | Construction in progress consisted of the following as of December 31, 2013: | |||||||||||||||||||||||||||
Construction in progress | Value | Completion | Estimated | |||||||||||||||||||||||||
description | (In thousands) | date | additional cost to | |||||||||||||||||||||||||
1.2 million tons high-strength steel production line | 32,268 | Dec-13 | Construction in progress | Value | Completion | complete | ||||||||||||||||||||||
Iron-making system dust removing equipment | 3,307 | Nov-13 | description | (In thousands) | date | (In thousands) | ||||||||||||||||||||||
Drainage system | 499 | Nov-13 | Iron-making system dust removing equipment | $ | 141 | Jan-14 | $ | 1,381 | ||||||||||||||||||||
Factory wall repair | 241 | Nov-13 | Factory wall repair | 945 | Mar-14 | 105 | ||||||||||||||||||||||
Gas pipe repair | 121 | Nov-13 | Equipment updates | 843 | Jan-14 | 2,725 | ||||||||||||||||||||||
Office buildings | 1,336 | Nov-13 | Sintering machine construction | 257 | Nov-14 | 143,525 | ||||||||||||||||||||||
Equipment updates | 7,381 | Nov-13 | #5 blast furnace construction | 1,907 | Dec-14 | 176,526 | ||||||||||||||||||||||
#5 blast furnace construction | 208 | Sep-14 | Electrical substation construction | 4 | Aug-14 | 24,229 | ||||||||||||||||||||||
Reconstruction of miscellaneous factory buildings | 690 | Jan-14 | Reconstruction of miscellaneous factory buildings | 4,428 | Jun-14 | 4,533 | ||||||||||||||||||||||
Project materials | 2,154 | Project materials | 2,156 | - | ||||||||||||||||||||||||
Others | 9,906 | Others | 731 | - | ||||||||||||||||||||||||
Total | $ | 58,111 | Total | $ | 11,412 | $ | 353,024 | |||||||||||||||||||||
Schedule of Capital Leased Assets [Table Text Block] | ' | ' | ||||||||||||||||||||||||||
The carrying value of assets acquired under the capital lease consists of the following: | The carrying value of assets acquired under the capital lease consists of the following: | |||||||||||||||||||||||||||
September 30, | June 30, | March 31, | December 31, | December 31, | December 31, | December 31, | December 31, | |||||||||||||||||||||
2013 | 2013 | 2013 | 2012 | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||
Machinery | $ | 603,248 | $ | 599,547 | $ | 590,665 | $ | 587,334 | Machinery | $ | 623,895 | $ | 587,334 | $ | 581,413 | $ | - | |||||||||||
Less: accumulated depreciation | -69,248 | -61,703 | -53,775 | -46,497 | Less: accumulated depreciation | -77,086 | -46,497 | -18,411 | - | |||||||||||||||||||
Carrying value of leased assets | $ | 534,000 | $ | 537,844 | $ | 536,890 | $ | 540,837 | Carrying value of leased assets | $ | 546,809 | $ | 540,837 | $ | 563,002 | $ | - | |||||||||||
September 30, | June 30, | March 31, | December 31, | |||||||||||||||||||||||||
2012 | 2012 | 2012 | 2011 | |||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||||||
Machinery | $ | 585,854 | $ | 586,594 | $ | 586,224 | $ | 581,413 | ||||||||||||||||||||
Less: accumulated depreciation | -39,423 | -32,507 | -25,525 | -18,411 | ||||||||||||||||||||||||
Carrying value of leased assets | $ | 546,431 | $ | 554,087 | $ | 560,699 | $ | 563,002 | ||||||||||||||||||||
September 30, 2011 | June 30, 2011 | December 31, 2010 | ||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||
Machinery | $ | 579,192 | $ | 572,531 | $ | - | ||||||||||||||||||||||
Less: accumulated depreciation | -11,463 | -4,533 | - | |||||||||||||||||||||||||
Carrying value of leased assets | $ | 567,729 | $ | 567,998 | $ | - | ||||||||||||||||||||||
Intangible_assets_net_Tables
Intangible assets, net (Tables) | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2013 | |||||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ' | ||||||||||||||||||||||||||
Schedule of Finite-Lived Intangible Assets [Table Text Block] | ' | ' | ||||||||||||||||||||||||||
Intangible assets consist of the following: | Intangible assets consist of the following: | |||||||||||||||||||||||||||
September 30, | June 30, | March 31, | December 31, | December 31, | December 31, | December 31, | December 31, | |||||||||||||||||||||
2013 | 2013 | 2013 | 2012 | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||
Land use rights | $ | 30,798 | $ | 30,609 | $ | 30,156 | $ | 29,986 | Land use rights | $ | 30,884 | $ | 29,986 | $ | 29,685 | $ | 28,462 | |||||||||||
Mining right | 2,448 | 2,433 | 2,397 | 2,384 | Mining right | 2,459 | 2,384 | 2,338 | - | |||||||||||||||||||
Software | 742 | 738 | 727 | 692 | Software | 743 | 692 | 685 | 660 | |||||||||||||||||||
Subtotal | 33,988 | 33,780 | 33,280 | 33,062 | Subtotal | 34,086 | 33,062 | 32,708 | 29,122 | |||||||||||||||||||
Less: | Less: | |||||||||||||||||||||||||||
Accumulated amortization – land use rights | -8,387 | -8,130 | -7,786 | -7,577 | Accumulated amortization – land use rights | -8,498 | -7,577 | -6,442 | -5,316 | |||||||||||||||||||
Accumulated amortization – mining right | -1,144 | -1,096 | -1,057 | -993 | Accumulated amortization – mining right | -1,320 | -993 | -822 | - | |||||||||||||||||||
Accumulated amortization – software | -529 | -496 | -461 | -426 | Accumulated amortization – software | -561 | -426 | -301 | -134 | |||||||||||||||||||
Subtotal | -10,060 | -9,722 | -9,304 | -8,996 | Subtotal | -10,379 | -8,996 | -7,565 | -5,450 | |||||||||||||||||||
Intangible assets, net | $ | 23,928 | $ | 24,058 | $ | 23,976 | $ | 24,066 | Intangible assets, net | $ | 23,707 | $ | 24,066 | $ | 25,143 | $ | 23,672 | |||||||||||
September 30, | June 30, | March 31, | December 31, | |||||||||||||||||||||||||
2012 | 2012 | 2012 | 2011 | |||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||||||
Land use rights | $ | 29,917 | $ | 29,954 | $ | 29,936 | $ | 29,685 | ||||||||||||||||||||
Mining right | 2,350 | 2,351 | 2,326 | 2,338 | ||||||||||||||||||||||||
Software | 688 | 689 | 689 | 685 | ||||||||||||||||||||||||
Subtotal | 32,955 | 32,994 | 32,951 | 32,708 | ||||||||||||||||||||||||
Less: | ||||||||||||||||||||||||||||
Accumulated amortization – land use rights | -7,325 | -7,075 | -6,811 | -6,442 | ||||||||||||||||||||||||
Accumulated amortization – mining right | -999 | -926 | -893 | -822 | ||||||||||||||||||||||||
Accumulated amortization – software | -404 | -370 | -339 | -301 | ||||||||||||||||||||||||
Subtotal | -8,728 | -8,371 | -8,043 | -7,565 | ||||||||||||||||||||||||
Intangible assets, net | $ | 24,227 | $ | 24,623 | $ | 24,908 | $ | 25,143 | ||||||||||||||||||||
September 30, 2011 | June 30, 2011 | December 31, 2010 | ||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||
Land use rights | $ | 29,571 | $ | 29,231 | $ | 28,462 | ||||||||||||||||||||||
Software | 683 | 675 | 660 | |||||||||||||||||||||||||
Subtotal | 30,254 | 29,906 | 29,122 | |||||||||||||||||||||||||
Less: | ||||||||||||||||||||||||||||
Accumulated amortization – land use rights | -6,162 | -5,831 | -5,316 | |||||||||||||||||||||||||
Accumulated amortization – software | -268 | -221 | -134 | |||||||||||||||||||||||||
Subtotal | -6,430 | -6,052 | -5,450 | |||||||||||||||||||||||||
Intangible assets, net | $ | 23,824 | $ | 23,854 | $ | 23,672 | ||||||||||||||||||||||
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | ' | ' | ||||||||||||||||||||||||||
The estimated aggregate amortization and depletion expenses for each of the five succeeding years is as follows: | The estimated aggregate amortization and depletion expenses for each of the five succeeding years is as follows: | |||||||||||||||||||||||||||
Year ending | Estimated | Gross carrying | Year ending | Estimated | Gross carrying | |||||||||||||||||||||||
amortization and | amount | amortization and | amount | |||||||||||||||||||||||||
depletion expenses | depletion expenses | |||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||||||
30-Jun-14 | $ | 1,082 | 22,846 | 31-Dec-14 | $ | 1,086 | 22,621 | |||||||||||||||||||||
30-Jun-15 | 1,082 | 21,764 | 31-Dec-15 | 1,086 | 21,535 | |||||||||||||||||||||||
30-Jun-16 | 1,082 | 20,682 | 31-Dec-16 | 1,086 | 20,449 | |||||||||||||||||||||||
30-Jun-17 | 1,082 | 19,600 | 31-Dec-17 | 1,086 | 19,363 | |||||||||||||||||||||||
30-Jun-18 | 1,082 | 18,518 | 31-Dec-18 | 1,086 | 18,277 | |||||||||||||||||||||||
Thereafter | 18,518 | - | Thereafter | 18,277 | - | |||||||||||||||||||||||
Total | $ | 23,928 | Total | $ | 23,707 | |||||||||||||||||||||||
Debt_Tables
Debt (Tables) | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2013 | |||||||||||||||||||||||||||
Schedule of Long-term Debt Instruments [Table Text Block] | ' | ' | ||||||||||||||||||||||||||
Long-term loans due to related party | Long-term loans due to related party | |||||||||||||||||||||||||||
September 30, | June 30, 2013 | March 31, 2013 | December 31,2012 | December 31, | December 31, | December 31, | December 31, | |||||||||||||||||||||
2013 | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||
Longmen Joint Venture: Loans from Shaanxi Steel Group, due on various dates through November 2015 and interest rate are 5.6% - 5.9% per annum. | $ | 72,346 | $ | 77,174 | $ | 93,500 | $ | 92,973 | Longmen Joint Venture: Loans from Shaanxi Steel Group, due on various dates through November 2015 and interest rate are 5.6% - 5.9% per annum. | $ | 72,657 | $ | 92,973 | $ | 92,035 | $ | 91,020 | |||||||||||
Less: Current maturities of long-term loans – related party | -47,896 | -48,014 | -59,984 | -54,885 | Less: Current maturities of long-term loans – related party | -53,013 | -54,885 | - | - | |||||||||||||||||||
Long-term loans - related party | $ | 24,450 | $ | 29,160 | $ | 33,516 | $ | 38,088 | Long-term loans - related party | $ | 19,644 | $ | 38,088 | $ | 92,035 | $ | 91,020 | |||||||||||
September 30, | June 30, 2012 | March 31, 2012 | December 31,2011 | |||||||||||||||||||||||||
2012 | ||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||||||
Longmen Joint Venture: Loans from Shaanxi Steel Group, due between July 2013 and November 2015 and interest rates are 5.6% - 5.9% per annum | $ | 92,738 | $ | 92,856 | $ | 92,797 | $ | 92,035 | ||||||||||||||||||||
Less: Current maturities of long-term loans – related party | -49,997 | - | - | - | ||||||||||||||||||||||||
Long-term loans - related party | $ | 42,741 | $ | 92,856 | $ | 92,797 | $ | 92,035 | ||||||||||||||||||||
September 30, | December 31, 2012 | December 31, 2010 | ||||||||||||||||||||||||||
2011 | ||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||
Longmen Joint Venture: Loans from Shaanxi Steel Group, due various dates from July 2013 to November 2015 and interest rates of 5.6% - 7.3% per annum. | $ | 107,695 | $ | 134,566 | $ | 91,020 | ||||||||||||||||||||||
Short Term Notes Payable [Member] | ' | ' | ||||||||||||||||||||||||||
Schedule of Short-term Debt [Table Text Block] | ' | ' | ||||||||||||||||||||||||||
The Company had the following short-term notes payable as of: | The Company had the following short-term notes payable as of: | |||||||||||||||||||||||||||
September 30, | June 30, | March 31, | December 31, | December 31, | December 31, | December 31, | December 31, | |||||||||||||||||||||
2013 | 2013 | 2013 | 2012 | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||
General Steel (China): Notes payable to various banks in China, due various dates from October 2013 to March 2014. Restricted cash required of $24.5 million, $14.8 million, $0.2 million and $6.3 million as of September 30, 2013 and December 31, 2012as of September 30, 2013, June 30, 2013, March 31, 2013 and December 31, 2012, respectively; guaranteed by third parties. These notes payable were either repaid or renewed subsequently on the due dates. | $ | 37,490 | $ | 21,287 | $ | 223 | $ | 12,696 | General Steel (China): Notes payable to various banks in China, due various dates from January to April 2014. Restricted cash required of $16.4 million, $6.3 million, $7.9 million and $11.7 million as of December 31, 2013, 2012, 2011 and 2010, respectively; guaranteed by third parties. These notes payable were either repaid or renewed subsequently on the due dates. | $ | 29,466 | $ | 12,696 | $ | 7,934 | $ | 21,541 | |||||||||||
Longmen Joint Venture: Notes payable to various banks in China, due various dates from October 2013 to August 2014. Restricted cash required of $381.3 million, $365.8 million, $269.2 million and $316.4 million as of September 30, 2013 and December 31, 2012as of September 30, 2013, June 30, 2013, March 31, 2013 and December 31, 2012, respectively; Restricted notes receivable required of $237.2 million, $98.3 million, $248.4 million and $345.8 million as of September 30, 2013 and December 31, 2012as of September 30, 2013, June 30, 2013, March 31, 2013 and December 31, 2012, respectively; some notes are further guaranteed by third parties. These notes payable were either repaid or renewed subsequently on the due dates. | 950,498 | 792,234 | 785,296 | 971,117 | Longmen Joint Venture: Notes payable to various banks in China, due various dates from January to August 2014. Restricted cash required of $383.0 million, $316.4 million, $355.4 million and $150.7 million as of December 31, 2013, 2012, 2011 and 2010, respectively; Notes receivable secured for the notes payable amounted to $231.7 million, $345.8 million, $451.1 million and $159.3 million as of December 31, 2013, 2012, 2011 and 2010, respectively; some notes are further guaranteed by third parties. These notes payable were either repaid or renewed subsequently on the due dates. | 988,364 | 971,117 | 1,105,570 | 447,992 | |||||||||||||||||||
Total short-term notes payable | $ | 987,988 | $ | 813,521 | $ | 785,519 | $ | 983,813 | Baotou: Notes payable to various banks in China, due in April 2011. Restricted cash required of $5.3 million as of December 31, 2010, guaranteed by third parties. | - | - | - | 10,619 | |||||||||||||||
Total short-term notes payable | $ | 1,017,830 | $ | 983,813 | $ | 1,113,504 | $ | 480,152 | ||||||||||||||||||||
September 30, | June 30, | March 31, | December 31, | |||||||||||||||||||||||||
2012 | 2012 | 2012 | 2011 | |||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||||||
General Steel (China): Notes payable to China Minsheng Bank, due February 2013. Restricted cash required of $6.3 million, $6.3 million, $14.3 million and $7.9 million as of September 30, 2012, June 30, 2012, March 31, 2012 and December 31, 2011, respectively; guaranteed by third parties. These notes payable were either repaid or renewed subsequently on the due dates. | $ | 12,664 | $ | 12,680 | $ | 20,671 | $ | 7,934 | ||||||||||||||||||||
Longmen Joint Venture: Notes payable to various banks in China, due various dates from October 2012 to March 2013. Restricted cash required of $412.0 million, $401.1 million, $425.7 million and $355.4 million as of September 30, 2012, June 30, 2012, March 31, 2012 and December 31, 2011, respectively; Restricted notes receivable required of $67.6 million, $115.7 million, $401.4 million and $451.1 million as of September 30, 2012, June 30, 2012, March 31, 2012 and December 31, 2011, respectively; some notes are further guaranteed by third parties while others are secured by equipment and land use rights. These notes payable were either repaid or renewed subsequently on the due dates. | 855,105 | 897,982 | 1,227,564 | 1,105,570 | ||||||||||||||||||||||||
Total short-term notes payable | $ | 867,769 | $ | 910,662 | $ | 1,248,235 | $ | 1,113,504 | ||||||||||||||||||||
30-Sep-11 | 30-Jun-11 | 31-Dec-10 | ||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||
General Steel (China): Notes payable to various banks in China, due December 2011. Restricted cash required of $3.1 million, $20.8 million and $11.7 million as of September 30, 2011, June 30, 2011 and December 31, 2010, respectively; guaranteed by third parties. These notes payable were either repaid or renewed subsequently on the due dates. | $ | 6,260 | $ | 23,875 | $ | 21,541 | ||||||||||||||||||||||
Longmen Joint Venture: Notes payable to various banks in China, due various dates from October 2011 to March 2012. $158.6 million restricted cash and $248.9 million notes receivable are secured for notes payable as of September 30, 2011, and comparatively $162.0 million restricted cash and $55.7 million notes receivable are secured for notes payable as of June 30, 2011 and $150.7 million restricted cash and $159.3 million notes receivable are secured for notes payable as of December 31, 2010, respectively; some notes are further guaranteed by third parties while others are secured by equipment and land use rights. These notes payable were either repaid or renewed subsequently on the due dates. | 548,671 | 321,782 | 447,992 | |||||||||||||||||||||||||
Bao Tou: Notes payable to various banks in China, due in April 2011. Restricted cash required of $5.3 million as of December 31, 2010, guaranteed by third parties. | - | - | 10,619 | |||||||||||||||||||||||||
Total short-term notes payable | $ | 554,931 | $ | 345,657 | $ | 480,152 | ||||||||||||||||||||||
Due To Banks [Member] | ' | ' | ||||||||||||||||||||||||||
Schedule of Short-term Debt [Table Text Block] | ' | ' | ||||||||||||||||||||||||||
Due to banks | Due to banks | |||||||||||||||||||||||||||
September 30, | June 30, | March 31, | December 31, | December 31, | December 31, | December 31, | December 31, | |||||||||||||||||||||
2013 | 2013 | 2013 | 2012 | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||
General Steel (China): Loans from various banks in China, due various dates from December 2013 to September 2014. Weighted average interest rate was 7.2%, 7.2%, 7.2% and 7.6% per annum as of September 30, 2013, June 30, 2013, March 31, 2013 and December 31, 2012, respectively; some are guaranteed by third parties while others are secured by equipment and inventory. These loans were either repaid or renewed subsequently on the due dates. | $ | 38,973 | $ | 34,478 | $ | 32,372 | $ | 32,189 | General Steel (China): Loans from various banks in China, due various dates from March to September 2014. Weighted average interest rate was 7.2%, 7.6%, 7.5% and 6.0% per annum as of December 31, 2013, 2012, 2011 and 2010, respectively; some are guaranteed by third parties while others were secured by equipment and inventory. These loans were either repaid or renewed subsequently on the due dates. | $ | 34,229 | $ | 32,189 | $ | 43,149 | $ | 24,220 | |||||||||||
Longmen Joint Venture: Loans from various banks in China, due various dates from November 2013 to August 2014. Weighted average interest rate was 6.5%, 6.7%, 6.7% and 6.8% per annum as of September 30, 2013, June 30, 2013, March 31, 2013 and December 31, 2012, respectively; some are guaranteed by third parties, restricted cash or notes receivables. $120.0 million, $0, $0 and $76.0 million restricted notes receivable were secured for the loans as of September 30, 2013, June 30, 2013, March 31, 2013 and December 31, 2012, respectively; These loans were either repaid or renewed subsequently on the due dates. | 215,956 | 174,253 | 84,752 | 114,935 | Longmen Joint Venture: Loans from various banks in China, due various dates from January to December 2014. Weighted average interest rate was 6.3%, 6.8%, 8.3% and 6.0% per annum as of December 31, 2013, 2012, 2011 and 2010, respectively; some are guaranteed by third parties, restricted cash or notes receivables while others are secured by equipment, buildings, land use right and inventory. $163.9 million, $12.4 million, $76.0 million and $81.0 million restricted notes receivable were secured for the loans as of December 31, 2013, 2012, 2011 and 2010, respectively; These loans were either repaid or renewed subsequently on the due dates. | 267,688 | 114,935 | 209,234 | 260,978 | |||||||||||||||||||
Total short-term loans - bank | $ | 254,929 | $ | 208,731 | $ | 117,124 | $ | 147,124 | Tianwu: Loans from Industrial and Commercial Bank of China Ltd., due dates vary from March to August 2012. Interest rate was 5% additional to standard bank interest rate, and secured by accounts receivables. These loans were either repaid or renewed subsequently on the due dates. | - | - | 1,571 | - | |||||||||||||||
Total short-term loans - bank | $ | 301,917 | $ | 147,124 | $ | 253,954 | $ | 285,198 | ||||||||||||||||||||
September 30, | June 30, | March 31, | December 31, | |||||||||||||||||||||||||
2012 | 2012 | 2012 | 2011 | |||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||||||
General Steel (China): Loans from various banks in China, due various dates from November 2012 to August 2013. Weighted average interest rate was 7.6%, 7.6%, 7.5% and 7.5% per annum as of September 30, 2012, June 30, 2012, March 31, 2012 and December 31, 2011, respectively; some are guaranteed by third parties while others are secured by equipment and inventory. These loans were either repaid or renewed subsequently on the due dates. | $ | 35,274 | $ | 37,674 | 41,526 | 43,149 | ||||||||||||||||||||||
Longmen Joint Venture: Loans from various banks in China, due various dates from December 2012 to September 2013. Weighted average interest rate was 4.8%, 6.7%, 6.6% and 8.3% per annum as of September 30, 2012, June 30, 2012, March 31, 2012 and December 31, 2011, respectively; some are guaranteed by third parties, restricted cash or notes receivables while others are secured by equipment, buildings, land use right and inventory. These loans were either repaid or renewed subsequently on the due dates. | 102,895 | 160,162 | 277,136 | 209,234 | ||||||||||||||||||||||||
Tianwu: Loans from Industrial and Commercial Bank of China Limited, due date various from October to December 2012. Interest rate was 10% additional to standard bank interest rate, and secured by accounts receivables. These loans were either repaid or renewed subsequently on the due dates. | 1,583 | 1,585 | - | 1,571 | ||||||||||||||||||||||||
Total short-term loans - bank | $ | 139,752 | $ | 199,421 | 318,662 | 253,954 | ||||||||||||||||||||||
September 30, | June 30, | December 31, | ||||||||||||||||||||||||||
2011 | 2011 | 2010 | ||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||
General Steel (China): Loans from various banks in China, due various dates from December 2011 to August 2012. Weighted average interest rate 7.0% per annum; some are guaranteed by third parties while others are secured by equipment and inventory. These loans were either repaid or renewed subsequently on the due dates | $ | 33,203 | $ | 34,644 | 24,220 | |||||||||||||||||||||||
Longmen Joint Venture: Loans from various banks in China, due various dates from October 2011 to September 2012. Weighted average interest rate 6.6% per annum; some are guaranteed by third parties, restricted cash or notes receivables while others are secured by equipment, buildings, land use right and inventory. These loans were either repaid or renewed subsequently on the due dates. | 369,225 | 277,053 | 260,978 | |||||||||||||||||||||||||
Total short-term loans - bank | $ | 402,428 | $ | 311,697 | 285,198 | |||||||||||||||||||||||
Due To Unrelated Parties [Member] | ' | ' | ||||||||||||||||||||||||||
Schedule of Short-term Debt [Table Text Block] | ' | ' | ||||||||||||||||||||||||||
Due to unrelated parties | Due to unrelated parties | |||||||||||||||||||||||||||
September 30, | June 30, | March 31, | December 31, | December 31, | December 31, | December 31, | December 31, | |||||||||||||||||||||
2013 | 2013 | 2013 | 2012 | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||
Longmen Joint Venture: Loans from various unrelated companies and individuals, due various dates from October 2013 to February 2014, and weighted average interest rate was 5.2%, 5.2%, 5.2% and 6.0% per annum as of September 30, 2013, June 30, 2013, March 31, 2013, December 31, 2012, respectively. These loans were either repaid or renewed subsequently on the due dates. | $ | 33,294 | $ | 46,980 | $ | 46,003 | $ | 25,324 | Longmen Joint Venture: Loans from various unrelated companies and individuals, due various dates from January to June 2014, and weighted average interest rate was 5.2%, 6.0%, 6.2% and 6.0% per annum as of December 31, 2013, 2012, 2011 and 2010, respectively. These loans were either repaid or renewed subsequently on the due dates. | $ | 22,720 | $ | 25,324 | $ | 143,102 | $ | 75,380 | |||||||||||
Longmen Joint Venture: Loans from financing sales. | 90,680 | 98,106 | 95,953 | 115,966 | Longmen Joint Venture: Loans from financing sales. | 33,124 | 115,966 | 97,583 | 37,947 | |||||||||||||||||||
Maoming Hengda: Loans from one unrelated parties and one related party, due on demand, none interest bearing. | 6,196 | 6,159 | 6,067 | 6,033 | Maoming Hengda: Loans from one unrelated parties and one related party, due on demand, none interest bearing. | 6,223 | 6,033 | 5,972 | 14,385 | |||||||||||||||||||
Total short-term loans – others | $ | 130,170 | $ | 151,245 | $ | 148,023 | $ | 147,323 | Total short-term loans – others | $ | 62,067 | $ | 147,323 | $ | 246,657 | $ | 127,712 | |||||||||||
September 30, | June 30, | March 31, | December 31, | |||||||||||||||||||||||||
2012 | 2012 | 2012 | 2011 | |||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||||||
Longmen Joint Venture: Loans from various unrelated companies and individuals, due various dates from October 2012 to March 2013; Weighted average interest rate was 6.4%, 6.5%, 6.6% and 6.2% per annum as of September 30, 2012, June 30, 2012, March 31, 2012 and December 31, 2011, respectively. These loans were either repaid or renewed subsequently on the due dates. | $ | 32,911 | $ | 55,935 | $ | 104,227 | $ | 143,102 | ||||||||||||||||||||
Longmen Joint Venture: Loans from financing sales. | 173,791 | 178,165 | 189,458 | 97,583 | ||||||||||||||||||||||||
Maoming Hengda: Loans from one unrelated parties and one related party, due on demand, none interest bearing. | 6,018 | 6,025 | 6,022 | 5,972 | ||||||||||||||||||||||||
Total short-term loans – others | $ | 212,720 | $ | 240,125 | $ | 299,707 | $ | 246,657 | ||||||||||||||||||||
September 30, | June 30, | December 31, | ||||||||||||||||||||||||||
2011 | 2011 | 2010 | ||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||
Longmen Joint Venture: Loans from various unrelated companies and individuals, due various dates from October 2011 to September 2012. Weighted average interest rates 5.9% per annum. These loans were either repaid or renewed subsequently on the due dates. | $ | 61,467 | $ | 84,018 | $ | 75,380 | ||||||||||||||||||||||
Longmen Joint Venture: Loans from financing sales. | 159,782 | 115,291 | 37,947 | |||||||||||||||||||||||||
Maoming Hengda: Loans from one unrelated parties and one related party, due on demand, none interest bearing. | 5,949 | 5,881 | 14,385 | |||||||||||||||||||||||||
Total short-term loans – others | $ | 227,198 | $ | 205,190 | $ | 127,712 | ||||||||||||||||||||||
Due To Related Parties [Member] | ' | ' | ||||||||||||||||||||||||||
Schedule of Short-term Debt [Table Text Block] | ' | ' | ||||||||||||||||||||||||||
Short term loans due to related parties | Short term loans due to related parties | |||||||||||||||||||||||||||
September 30, | June 30, | March 31, | December 31, | December 31, | December 31, | December 31, | December 31, | |||||||||||||||||||||
2013 | 2013 | 2013 | 2012 | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||
Baotou Steel: Loans from Tianjin Hengying Trading Co., Ltd, due on demand, and interest rates is 10% per annum. | $ | 3,430 | $ | 3,409 | $ | 3,837 | $ | 4,133 | Baotou Steel: Loans from Tianjin Hengying Trading Co., Ltd, due on demand, and interest rates is 10% per annum. | $ | - | $ | 4,133 | $ | - | $ | - | |||||||||||
General Steel China: Loans from Tianjin Hengying Trading Co., Ltd., due on demand, and interest rates is 10% per annum. | - | - | - | 15,416 | General Steel China: Loans from Tianjin Hengying Trading Co., Ltd., due on demand, and interest rates is 10% per annum. | - | 15,416 | - | - | |||||||||||||||||||
General Steel China: Loans from Tianjin Dazhan Industry Co, Ltd., due on demand, and interest rates is 10% per annum. | - | 6,858 | - | 21,397 | General Steel China: Loans from Tianjin Dazhan Industry Co, Ltd., due on demand, and interest rates is 10% per annum. | - | 21,397 | - | - | |||||||||||||||||||
General Steel China: Loans from Beijing Shenhua Xinyuan Metal Materials Co., Ltd., due on demand, and interest rates is 10% per annum. | 1,395 | 1,387 | 1,366 | 1,359 | General Steel China: Loans from Beijing Shenhua Xinyuan Metal Materials Co., Ltd., due on demand, and interest rates is 10% per annum. | - | 1,359 | - | - | |||||||||||||||||||
General Steel China: Loans from Yangpu Capital Automobile, due on demand, and interest rates is 10% per annum. | 1,451 | 1,442 | 1,421 | 1,413 | General Steel China: Loans from Yangpu Capital Automobile, due on demand, and interest rates is 10% per annum. | 1,458 | 1,413 | - | - | |||||||||||||||||||
Longmen Joint Venture: Loan from Shaanxi Coal and Chemical Industry Group Co., Ltd., due on demand, and interest rate is 7.0% per annum. | 33,580 | 42,836 | 56,977 | - | Longmen Joint Venture: Loan from Shaanxi Coal and Chemical Industry Group Co., Ltd., due on demand, and interest rate is 7.0% per annum. | 28,216 | - | - | - | |||||||||||||||||||
Longmen Joint Venture: Loan from Xi’an Pinhe Steel Material Co., Ltd., due in July 2013, and interest rate is 7.2% per annum. | - | - | 15,960 | - | Longmen Joint Venture: Loan from Shaanxi Steel Group due in November 2014, and interest rate is 6.6% and 5.6% per annum as of December 31, 2013 and 2010, respectively. | 49,110 | - | 14,548 | ||||||||||||||||||||
Longmen Joint Venture: Loans from financing sales. | 9,033 | 26,043 | 24,829 | 35,839 | Longmen Joint Venture: Loans from Tianjin Hengying Trading Co., Ltd., due in April 2012, and interest rate was 5.2% per annum. This loan was repaid subsequently on the due date. | - | - | 15,710 | - | |||||||||||||||||||
Total short-term loans - related parties | $ | 48,889 | $ | 81,975 | $ | 104,390 | $ | 79,557 | Longmen Joint Venture: Loans from financing sales. | 47,909 | 35,839 | - | - | |||||||||||||||
Total short-term loans - related parties | $ | 126,693 | $ | 79,557 | $ | 15,710 | $ | 14,548 | ||||||||||||||||||||
September 30, | June 30, | March 31, | December 31, | |||||||||||||||||||||||||
2012 | 2012 | 2012 | 2011 | |||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||||||
Baotou Steel: Loans from Tianjin Hengying Trading Co., Ltd, due on demand, and interest rates is 10% per annum. | $ | 5,072 | $ | 5,078 | $ | 5,075 | $ | - | ||||||||||||||||||||
General Steel China: Loans from Tianjin Hengying Trading Co., Ltd., due on demand, and interest rates is 10% per annum. | 19,756 | 6,802 | 18,795 | - | ||||||||||||||||||||||||
General Steel China: Loans from Tianjin Dazhan Industry Co, Ltd., due on demand, and interest rates is 10% per annum. | 8,972 | 50,984 | 24,674 | - | ||||||||||||||||||||||||
General Steel China: Loans from Beijing Shenhua Xinyuan Metal Materials Co., Ltd., due on demand, and interest rates is 10% per annum. | 1,355 | 1,357 | 1,356 | - | ||||||||||||||||||||||||
General Steel China: Loans from Yangpu Capital Automobile, due on demand, and interest rates is 10% per annum. | 1,409 | 1,411 | 1,410 | - | ||||||||||||||||||||||||
Longmen Joint Venture: Loans from Tianjin Hengying Trading Co., Ltd, due in April 2012, and interest rate was 5.2% per annum. This loan was repaid subsequently on the due date. | 15,840 | 15,710 | ||||||||||||||||||||||||||
Longmen Joint Venture: Loans from financing sales. | 45,505 | 15,892 | 15,842 | - | ||||||||||||||||||||||||
Total short-term loans - related parties | $ | 82,069 | $ | 81,524 | $ | 82,992 | $ | 15,710 | ||||||||||||||||||||
September 30, | June 30, 2011 | December 31, 2010 | ||||||||||||||||||||||||||
2011 | ||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||
Longmen Joint Venture: Loans from Shaanxi Steel, due July 2011, and interest rates 5.6% per annum. | 14,548 | |||||||||||||||||||||||||||
Longmen Joint Venture: Loans from Tianjin Hengying Trading Co., Ltd, due in October 2011, and interest rate 4.8% per annum. This loan was renewed subsequently on the due dates. | 15,650 | 15,470 | - | |||||||||||||||||||||||||
Longmen Joint Venture: Loans from financing sales. | 167 | - | ||||||||||||||||||||||||||
Total short-term loans - related parties | $ | 15,650 | $ | 15,637 | $ | 14,548 | ||||||||||||||||||||||
Convertible_notes_and_warrants1
Convertible notes and warrants (Tables) | 9 Months Ended | 12 Months Ended | ||||||||||||
Sep. 30, 2013 | Dec. 31, 2013 | |||||||||||||
Debt Disclosure [Abstract] | ' | ' | ||||||||||||
Fair Value, by Balance Sheet Grouping [Table Text Block] | ' | ' | ||||||||||||
The fair value of the warrants as of December 31, 2012 was calculated using the Cox Rubenstein Binomial model based on the following variables: | The fair value of the warrants as of December 31, 2012 was calculated using the Cox Rubenstein Binomial model based on the following variables: | |||||||||||||
December 31, 2012 | 2007 Warrants | |||||||||||||
Expected volatility | 86 | % | Expected volatility | 86 | % | |||||||||
Expected dividend yield | 0 | % | Expected dividend yield | 0 | % | |||||||||
Risk-free interest rate | 0.08 | % | Risk-free interest rate | 0.08 | % | |||||||||
Expected lives | 0.36 years | Expected lives | 0.36 years | |||||||||||
Market price | $ | 0.99 | Market price | $ | 0.99 | |||||||||
Strike price | $ | 5 | Strike price | $ | 5 | |||||||||
The fair value of the warrants as of December 31, 2011 was calculated using the Cox Rubenstein Binomial model based on the following variables: | ||||||||||||||
2007 Warrants | 2009 Warrants | |||||||||||||
Expected volatility | 55 | % | 50 | % | ||||||||||
Expected dividend yield | 0 | % | 0 | % | ||||||||||
Risk-free interest rate | 0.17 | % | 0.24 | % | ||||||||||
Expected lives | 1.37 years | 0.48 years | ||||||||||||
Market price | $ | 0.99 | $ | 0.99 | ||||||||||
Strike price | $ | 5 | $ | 5 | ||||||||||
The fair value of the warrants as of December 31, 2010 was calculated using the Cox Rubenstein Binomial model based on the following variables: | ||||||||||||||
2007 Warrants | 2009 Warrants | |||||||||||||
Expected volatility | 100 | % | 60 | % | ||||||||||
Expected dividend yield | 0 | % | 0 | % | ||||||||||
Risk-free interest rate | 0.76 | % | 0.44 | % | ||||||||||
Expected lives | 2.37 years | 1.48 years | ||||||||||||
Market price | $ | 2.87 | $ | 2.87 | ||||||||||
Strike price | $ | 5 | $ | 5 | ||||||||||
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | ' | ' | ||||||||||||
The Company has the following warrants outstanding: | The Company has the following warrants outstanding: | |||||||||||||
Outstanding as of December 31, 2010 | 6,678,649 | Outstanding as of December 31, 2010 | 6,678,649 | |||||||||||
Granted | - | Granted | - | |||||||||||
Forfeited / expired | - | Forfeited / expired | - | |||||||||||
Exercised | - | Exercised | - | |||||||||||
Outstanding as of December 31, 2011 | 6,678,649 | Outstanding as of December 31, 2011 | 6,678,649 | |||||||||||
Granted | - | Granted | - | |||||||||||
Forfeited / expired | -2,777,778 | Forfeited / expired | -2,777,778 | |||||||||||
Exercised | - | Exercised | - | |||||||||||
Outstanding as of December 31, 2012 | 3,900,871 | Outstanding as of December 31, 2012 | 3,900,871 | |||||||||||
Granted | - | Granted | - | |||||||||||
Forfeited / expired | -3,900,871 | Forfeited / expired | -3,900,871 | |||||||||||
Exercised | - | Exercised | - | |||||||||||
Outstanding as of September 30, 2013 | - | Outstanding as of December 31, 2013 | - | |||||||||||
Capital_lease_obligations_Tabl
Capital lease obligations (Tables) | 9 Months Ended | 12 Months Ended | ||||||||
Sep. 30, 2013 | Dec. 31, 2013 | |||||||||
Leases, Capital [Abstract] | ' | ' | ||||||||
Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block] | ' | ' | ||||||||
Presented below is a schedule of estimated minimum lease payments on the capital lease obligation for the next five years as of September 30, 2013: | Presented below is a schedule of estimated minimum lease payments on the capital lease obligation for the next five years as of December 31, 2013: | |||||||||
Year ending September 30, | Capital Lease Obligation | Year ending December 31, | Capital Lease | |||||||
Minimum Lease Payments | Obligations | |||||||||
(in thousands) | Minimum Lease | |||||||||
2014 | $ | - | Payments | |||||||
2015 | 126,557 | (in thousands) | ||||||||
2016 | 28,654 | 2014 | $ | 5,292 | ||||||
2017 | 28,654 | 2015 | 4,248 | |||||||
2018 | 28,654 | 2016 | 4,248 | |||||||
Thereafter | 360,567 | 2017 | 195,506 | |||||||
Total minimum lease payments | 573,086 | 2018 | 31,057 | |||||||
Less: amounts representing interest | -218,510 | Thereafter | 356,191 | |||||||
Ending balance | $ | 354,576 | Total minimum lease payments | 596,542 | ||||||
Less: amounts representing interest | -217,202 | |||||||||
Ending balance | $ | 379,340 | ||||||||
Taxes_Tables
Taxes (Tables) | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2013 | |||||||||||||||||||||||||||
Income Tax Disclosure [Abstract] | ' | ' | ||||||||||||||||||||||||||
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | ' | ' | ||||||||||||||||||||||||||
Significant components of the provision for income taxes on earnings and deferred taxes on net operating losses from operations for the three months ended September 30, 2013, 2012, 2011 and 2010 are as follows: | Significant components of the provision for income taxes on earnings and deferred taxes on net operating losses from operations for the years ended December 31, 2013, 2012, 2011 and 2010 are as follows: | |||||||||||||||||||||||||||
For the three months ended | For the nine months ended | (In thousands) | For the year ended | For the year ended | For the year ended | For the year ended | ||||||||||||||||||||||
(In thousands) | September 30, | September 30, | September 30, | September | December 31, | December 31, | December 31, | December 31, | ||||||||||||||||||||
2013 | 2012 | 2013 | 30, 2012 | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||||
Current | $ | 25 | $ | 100 | $ | 201 | $ | 510 | Current | $ | 354 | $ | 627 | $ | 175 | $ | 1267 | |||||||||||
Deferred | - | - | - | 169 | Deferred | - | 169 | 15,419 | -10,049 | |||||||||||||||||||
Total provision for income taxes | $ | 25 | $ | 100 | $ | 201 | $ | 679 | Total provision for income taxes | $ | 354 | $ | 796 | $ | 15,594 | $ | -8,782 | |||||||||||
Three months ended | Nine months ended | |||||||||||||||||||||||||||
(In thousands) | September 30, | September 30, | September 30, | September 30, | ||||||||||||||||||||||||
2011 | 2010 | 2011 | 2010 | |||||||||||||||||||||||||
Current | $ | 410 | $ | 5,332 | $ | 617 | $ | 860 | ||||||||||||||||||||
Deferred | 144 | -5,676 | 15,384 | -5,944 | ||||||||||||||||||||||||
Total provision (benefit) for income taxes | $ | 554 | $ | -344 | $ | 16,001 | $ | -5,084 | ||||||||||||||||||||
For the three months ended | For the six months ended | |||||||||||||||||||||||||||
(In thousands) | June 30, 2013 | June 30, 2012 | June 30, 2013 | June 30, 2012 | ||||||||||||||||||||||||
Current | $ | 105 | $ | 43 | $ | 176 | $ | 410 | ||||||||||||||||||||
Deferred | - | - | - | 169 | ||||||||||||||||||||||||
Total provision for income taxes | $ | 105 | $ | 43 | $ | 176 | $ | 579 | ||||||||||||||||||||
Three months ended | Six months ended | |||||||||||||||||||||||||||
(In thousands) | June 30, 2011 | June 30, 2010 | June 30, 2011 | June 30, 2010 | ||||||||||||||||||||||||
Current | $ | - | $ | - | $ | 207 | $ | 606 | ||||||||||||||||||||
Deferred | 18,198 | -2,803 | 15,240 | -5,346 | ||||||||||||||||||||||||
Provision (benefit) for income taxes | $ | 18,198 | $ | -2,803 | $ | 15,447 | $ | -4,740 | ||||||||||||||||||||
(In thousands) | For the three months ended | For the three months ended | ||||||||||||||||||||||||||
March 31, 2013 | March 31, 2012 | |||||||||||||||||||||||||||
Current | $ | 71 | $ | 367 | ||||||||||||||||||||||||
Deferred | - | 169 | ||||||||||||||||||||||||||
Total provision for income taxes | $ | 71 | $ | 536 | ||||||||||||||||||||||||
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | ' | ' | ||||||||||||||||||||||||||
The following table reconciles the U.S. statutory rates to the Company’s effective tax rate for the years ended December 31, 2013, 2012, 2011 and 2010 are as follows: | ||||||||||||||||||||||||||||
December 31, | December 31, | December 31, | December 31, | |||||||||||||||||||||||||
2013 | 2012 | 2011 | 2010 | |||||||||||||||||||||||||
U.S. Statutory rates | 34 | % | 34 | % | 34 | % | 34 | % | ||||||||||||||||||||
Foreign income not recognized in the U.S. | -34 | % | -34 | % | -34 | % | -34 | % | ||||||||||||||||||||
China income tax rate | 25 | % | 25 | % | 25 | % | 25 | % | ||||||||||||||||||||
Current year tax loss that were not recognized as deferred tax assets | - | - | -17.1 | % | 2.3 | % | ||||||||||||||||||||||
Effect of tax rate differential of subsidiaries/VIE | -12 | % | -8.3 | % | 13.6 | % | -12.3 | % | ||||||||||||||||||||
Effect of change in deferred tax assets valuation allowance | -58.4 | % | -10.9 | % | -27.3 | % | 2.3 | % | ||||||||||||||||||||
Effect of permanent difference – change in fair value of profit sharing liability | 61.9 | % | - | - | - | |||||||||||||||||||||||
Effect of permanent difference – capital lease obligation for iron and steel production facilities | -17.3 | % | -6.1 | % | ||||||||||||||||||||||||
Total provision for income taxes* | -0.8 | % | -0.3 | % | -5.8 | % | 15 | % | ||||||||||||||||||||
*The negative effective tax rates for the years ended December 31, 2013, 2012 and 2011 were mainly due to a consolidated loss before income tax while the Company provided 100% valuation allowance for the deferred tax assets at subsidiaries with losses and incurred income tax expenses in our profitable subsidiaries. | ||||||||||||||||||||||||||||
Schedule Of Movement Of Deferred Tax Assets Carried Forward Losses [Table Text Block] | ' | ' | ||||||||||||||||||||||||||
The movement of the deferred income tax assets arising from carried forward losses is as follows: | ||||||||||||||||||||||||||||
December 31, | December 31, | December 31, | December 31, | |||||||||||||||||||||||||
2013 | 2012 | 2011 | 2010 | |||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||||||
Beginning balance | $ | - | (A) | $ | 167 | (A) | $ | 15,301 | (A) | $ | 5,044 | (A) | ||||||||||||||||
(Tax assets realized) net operating losses carried forward for subsidiaries subject to a 25% tax rate | -272 | 2,484 | 912 | 1,062 | ||||||||||||||||||||||||
Effective tax rate | 25 | % | 25 | % | 25 | % | 25 | % | ||||||||||||||||||||
Addition (deduction) in deferred tax asset | -68 | (B) | 621 | (B) | 228 | (B) | 266 | (B) | ||||||||||||||||||||
Net operating losses carried forward for Longmen Joint Venture and subsidiaries subject to a 15% tax rate | 143,873 | 95,453 | 143,180 | 8,488 | ||||||||||||||||||||||||
Effective tax rate | 15 | % | 15 | % | 15 | % | 15 | % | ||||||||||||||||||||
Addition in deferred tax asset | 21,581 | (C) | 14,318 | (C) | 1,528 | (C) | 1,273 | (C) | ||||||||||||||||||||
Temporary difference carried forward for subsidiaries subject to a 25% tax rate | -2,697 | 22,427 | 6,112 | 1,281 | ||||||||||||||||||||||||
Effective tax rate | 25 | % | 25 | % | 25 | % | 25 | % | ||||||||||||||||||||
Addition (deduction) in deferred tax asset | -674 | (D) | 5,607 | (D) | 1,528 | (D) | 320 | (D) | ||||||||||||||||||||
Temporary difference carried forward for subsidiaries subject to a 15% tax rate | 10,282 | 29,836 | 58,611 | 56,531 | ||||||||||||||||||||||||
Effective tax rate | 15 | % | 15 | % | 15 | % | 15 | % | ||||||||||||||||||||
Addition (deduction) in deferred tax asset | 1,542 | (E) | 4,475 | (E) | 8,792 | (E) | 8,480 | (E) | ||||||||||||||||||||
Addition in valuation allowance | -22,087 | (F) | -25,180 | (F) | -46,914 | (F) | - | (F) | ||||||||||||||||||||
Deconsolidation of Tongxing | - | (G) | -216 | (G) | - | (G) | - | (G) | ||||||||||||||||||||
Exchange difference | -294 | (H) | 208 | (H) | -245 | (H) | -82 | (H) | ||||||||||||||||||||
Total (A+B+C+D+E+F+G+H) | $ | - | $ | - | $ | 167 | $ | 15,301 | ||||||||||||||||||||
Summary of Valuation Allowance [Table Text Block] | ' | ' | ||||||||||||||||||||||||||
Movement of valuation allowance: | Movement of valuation allowance: | |||||||||||||||||||||||||||
September 30, | June 30, | March 31, | December 31, | December 31, | December 31, | December 31, | December 31, | |||||||||||||||||||||
2013 | 2013 | 2013 | 2012 | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||
Beginning balance | $ | 72,891 | $ | 72,891 | $ | 72,891 | $ | 47,703 | Beginning balance | $ | 72,891 | $ | 47,703 | $ | - | $ | - | |||||||||||
Current period addition | 12,776 | 11,006 | 2,912 | 25,180 | Current period addition | 23,293 | 25,180 | 46,914 | - | |||||||||||||||||||
Current period reversal | -857 | -694 | -465 | - | Current period reversal | -1,206 | - | - | - | |||||||||||||||||||
Deconsolidation of Tongxing | - | - | - | -216 | Deconsolidation of Tongxing | - | -216 | - | - | |||||||||||||||||||
Exchange difference | 2,125 | 1,626 | 417 | 224 | Exchange difference | 2,591 | 224 | 789 | - | |||||||||||||||||||
Ending balance | $ | 86,935 | $ | 84,829 | $ | 75,755 | $ | 72,891 | Ending balance | $ | 97,569 | $ | 72,891 | $ | 47,703 | $ | - | |||||||||||
September 30, | June 30, | March 31, | December 31, | |||||||||||||||||||||||||
2012 | 2012 | 2012 | 2011 | |||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||||||
Beginning balance | $ | 47,703 | $ | 47,703 | $ | 47,703 | $ | - | ||||||||||||||||||||
Current period addition | 22,144 | 13,868 | 7,194 | 46,914 | ||||||||||||||||||||||||
Current period reversal | - | - | - | - | ||||||||||||||||||||||||
Deconsolidation of Tongxing | -216 | -216 | -216 | - | ||||||||||||||||||||||||
Exchange difference | 185 | 202 | 198 | 789 | ||||||||||||||||||||||||
Ending balance | $ | 69,816 | $ | 61,557 | $ | 54,879 | $ | 47,703 | ||||||||||||||||||||
September 30, 2011 | June 30, 2011 | December 31, 2010 | ||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||
Beginning balance | $ | - | $ | - | $ | - | ||||||||||||||||||||||
Current period addition | 23,670 | 19,571 | - | |||||||||||||||||||||||||
Current period reversal | - | - | - | |||||||||||||||||||||||||
Exchange difference | 131 | |||||||||||||||||||||||||||
Ending balance | $ | 23,801 | $ | 19,571 | $ | - | ||||||||||||||||||||||
Schedule Of Taxes Payable [Table Text Block] | ' | ' | ||||||||||||||||||||||||||
Taxes payable consisted of the following: | Taxes payable consisted of the following: | |||||||||||||||||||||||||||
September 30, | June 30, | March 31, | December 31, | December 31, 2013 | December 31, 2012 | 31-Dec-11 | 31-Dec-10 | |||||||||||||||||||||
2013 | 2013 | 2013 | 2012 | (in thousands) | (in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | VAT taxes payable | $ | 2,211 | $ | 13,579 | $ | 4,856 | $ | 3,921 | ||||||||||||||||
VAT taxes payable | $ | 7,309 | $ | 6,993 | $ | 8,432 | $ | 13,579 | Income taxes payable | 173 | 68 | 96 | 840 | |||||||||||||||
Income taxes payable | 20 | 67 | 44 | 68 | Misc. taxes | 2,244 | 3,027 | 6,422 | 1,476 | |||||||||||||||||||
Misc. taxes | 2,387 | 3,250 | 3,858 | 3,027 | Total | $ | 4,628 | $ | 16,674 | $ | 11,374 | $ | 6,237 | |||||||||||||||
Total | $ | 9,716 | $ | 10,310 | $ | 12,334 | $ | 16,674 | ||||||||||||||||||||
September 30, | June 30, | March 31, | December 31, | |||||||||||||||||||||||||
2012 | 2012 | 2012 | 2011 | |||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||||||
VAT taxes payable | $ | 3,869 | $ | 2,351 | $ | 30 | $ | 4,856 | ||||||||||||||||||||
Income taxes payable | 124 | 153 | 147 | 96 | ||||||||||||||||||||||||
Misc. taxes | 2,505 | 4,417 | 5,178 | 6,422 | ||||||||||||||||||||||||
Total | $ | 6,498 | $ | 6,921 | $ | 5,355 | $ | 11,374 | ||||||||||||||||||||
September 30, 2011 | June 30, 2011 | December 31, 2010 | ||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||
VAT taxes payable | $ | 6,402 | $ | 7,818 | $ | 3,921 | ||||||||||||||||||||||
Income taxes payable | 873 | 586 | 840 | |||||||||||||||||||||||||
Misc. taxes | 4,745 | 4,286 | 1,476 | |||||||||||||||||||||||||
Total | $ | 12,020 | $ | 12,690 | $ | 6,237 | ||||||||||||||||||||||
Loss_per_share_Tables
Loss per share (Tables) | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2013 | |||||||||||||||||||||||||||
Earnings Per Share [Abstract] | ' | ' | ||||||||||||||||||||||||||
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | ' | ' | ||||||||||||||||||||||||||
The computation of earnings (loss) per share is as follows: | The computation of loss per share is as follows: | |||||||||||||||||||||||||||
(in thousands, except per share data) | (in thousands, except per | For the year ended | For the year ended | For the year ended | For the year ended | |||||||||||||||||||||||
For the three | For the three months ended | share data) | 31-Dec-13 | 31-Dec-12 | 31-Dec-11 | 31-Dec-10 | ||||||||||||||||||||||
months ended | September 30, 2012 | Loss attributable to holders of common stock | $ | -33,016 | $ | -152,697 | $ | -177,187 | $ | -30,006 | ||||||||||||||||||
September 30, 2013 | Basic and diluted weighted average number of common shares outstanding | 55,126 | 54,867 | 54,750 | 53,113 | |||||||||||||||||||||||
Income (loss) attributable to holders of common stock | $ | 3,801 | $ | -41,598 | Loss per share | |||||||||||||||||||||||
Basic and diluted weighted average number of common shares outstanding | 55,141 | 54,466 | Basic and diluted | $ | -0.6 | $ | -2.78 | $ | -3.24 | $ | -0.56 | |||||||||||||||||
Earnings (loss) per share | ||||||||||||||||||||||||||||
Basic and diluted | $ | 0.07 | $ | -0.76 | ||||||||||||||||||||||||
(in thousands except per share data) | ||||||||||||||||||||||||||||
For the three | For the three | |||||||||||||||||||||||||||
months ended | months ended | |||||||||||||||||||||||||||
September 30, 2011 | September 30, 2010 | |||||||||||||||||||||||||||
Loss attributable to holders of common shares | $ | -13,830 | $ | -3,784 | ||||||||||||||||||||||||
Basic and diluted weighted average number of common shares outstanding | 55,166 | 53,941 | ||||||||||||||||||||||||||
Loss per share | ||||||||||||||||||||||||||||
Basic and diluted | $ | -0.25 | $ | -0.07 | ||||||||||||||||||||||||
For the nine | For the nine | |||||||||||||||||||||||||||
months ended | months ended | |||||||||||||||||||||||||||
September 30, 2013 | September 30, 2012 | |||||||||||||||||||||||||||
Loss attributable to holders of | $ | -32,914 | $ | -102,759 | ||||||||||||||||||||||||
common stock | ||||||||||||||||||||||||||||
Basic and diluted weighted average number of common shares outstanding | 54,976 | 54,946 | ||||||||||||||||||||||||||
Loss per share | ||||||||||||||||||||||||||||
Basic and diluted | $ | -0.6 | $ | -1.87 | ||||||||||||||||||||||||
For the nine | For the nine | |||||||||||||||||||||||||||
months ended | months ended | |||||||||||||||||||||||||||
(in thousands except per share data) | September 30, 2011 | September 30, 2010 | ||||||||||||||||||||||||||
Loss attributable to holders of common shares | $ | -45,662 | $ | -11,400 | ||||||||||||||||||||||||
Basic and diluted weighted average number of common shares outstanding | 54,547 | 52,577 | ||||||||||||||||||||||||||
Loss per share | ||||||||||||||||||||||||||||
Basic and diluted | $ | -0.84 | $ | -0.22 | ||||||||||||||||||||||||
For the three | For the three | |||||||||||||||||||||||||||
months ended | months ended | |||||||||||||||||||||||||||
June 30, 2013 | June 30, 2012 | |||||||||||||||||||||||||||
Loss attributable to holders of common stock | $ | -39,818 | $ | -26,377 | ||||||||||||||||||||||||
Basic and diluted weighted average number of common shares outstanding | 54,980 | 54,857 | ||||||||||||||||||||||||||
Loss per share | ||||||||||||||||||||||||||||
Basic and diluted | $ | -0.72 | $ | -0.48 | ||||||||||||||||||||||||
For the six | For the six | |||||||||||||||||||||||||||
months ended | months ended | |||||||||||||||||||||||||||
June 30, 2013 | June 30, 2012 | |||||||||||||||||||||||||||
Loss attributable to holders of common stock | $ | -36,715 | $ | -61,161 | ||||||||||||||||||||||||
Basic and diluted weighted average number of common shares outstanding | 54,893 | 55,188 | ||||||||||||||||||||||||||
Loss per share | ||||||||||||||||||||||||||||
Basic and diluted | $ | -0.67 | $ | -1.11 | ||||||||||||||||||||||||
Three months ended | Six months ended June 30 | |||||||||||||||||||||||||||
June 30 | ||||||||||||||||||||||||||||
(in thousands except per share data) | 2011 | 2010 | 2011 | 2010 | ||||||||||||||||||||||||
Loss attributable to holders of common stock | $ | -22,915 | $ | -2,004 | $ | -31,832 | $ | -7,616 | ||||||||||||||||||||
Basic and diluted weighted average number of common shares outstanding | 54,318 | 52,112 | 54,233 | 51,883 | ||||||||||||||||||||||||
Loss per share | ||||||||||||||||||||||||||||
Basic and diluted | $ | -0.42 | $ | -0.04 | $ | -0.59 | $ | -0.15 | ||||||||||||||||||||
For the three months | For the three months | |||||||||||||||||||||||||||
ended March 31, 2013 | ended March 31, 2012 | |||||||||||||||||||||||||||
Income (loss) attributable to holders of common stock | $ | 3,103 | $ | -34,784 | ||||||||||||||||||||||||
Basic and diluted weighted average number of common shares outstanding | 54,805 | 55,520 | ||||||||||||||||||||||||||
Earnings (loss) per share | ||||||||||||||||||||||||||||
Basic and diluted | $ | 0.06 | $ | -0.63 | ||||||||||||||||||||||||
Related_party_transactions_and1
Related party transactions and balances (Tables) | 9 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2013 | ||||||||||||||||||||||||||||||||||
Schedule of Capital Leased Assets [Table Text Block] | ' | ' | |||||||||||||||||||||||||||||||||
The carrying value of assets acquired under the capital lease consists of the following: | The carrying value of assets acquired under the capital lease consists of the following: | ||||||||||||||||||||||||||||||||||
September 30, | June 30, | March 31, | December 31, | December 31, | December 31, | December 31, | December 31, | ||||||||||||||||||||||||||||
2013 | 2013 | 2013 | 2012 | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||
Machinery | $ | 603,248 | $ | 599,547 | $ | 590,665 | $ | 587,334 | Machinery | $ | 623,895 | $ | 587,334 | $ | 581,413 | $ | - | ||||||||||||||||||
Less: accumulated depreciation | -69,248 | -61,703 | -53,775 | -46,497 | Less: accumulated depreciation | -77,086 | -46,497 | -18,411 | - | ||||||||||||||||||||||||||
Carrying value of leased assets | $ | 534,000 | $ | 537,844 | $ | 536,890 | $ | 540,837 | Carrying value of leased assets | $ | 546,809 | $ | 540,837 | $ | 563,002 | $ | - | ||||||||||||||||||
September 30, | June 30, | March 31, | December 31, | ||||||||||||||||||||||||||||||||
2012 | 2012 | 2012 | 2011 | ||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||
Machinery | $ | 585,854 | $ | 586,594 | $ | 586,224 | $ | 581,413 | |||||||||||||||||||||||||||
Less: accumulated depreciation | -39,423 | -32,507 | -25,525 | -18,411 | |||||||||||||||||||||||||||||||
Carrying value of leased assets | $ | 546,431 | $ | 554,087 | $ | 560,699 | $ | 563,002 | |||||||||||||||||||||||||||
September 30, 2011 | June 30, 2011 | December 31, 2010 | |||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||||||||||||||
Machinery | $ | 579,192 | $ | 572,531 | $ | - | |||||||||||||||||||||||||||||
Less: accumulated depreciation | -11,463 | -4,533 | - | ||||||||||||||||||||||||||||||||
Carrying value of leased assets | $ | 567,729 | $ | 567,998 | $ | - | |||||||||||||||||||||||||||||
Schedule Of Related Party Sales [Table Text Block] | ' | ' | |||||||||||||||||||||||||||||||||
The following chart summarized sales to related parties for the three and nine months ended September 30, 2013, 2012, 2011 and 2010, for the three and six months ended June 30, 2013, 2012, 2011 and 2010, and for the three months ended March 31, 2013, 2012 and 2011. | The following chart summarized sales to related parties for the years ended December 31, 2013, 2012, 2011 and 2010. | ||||||||||||||||||||||||||||||||||
Name of related parties | Relationship | Three months ended | Three months ended | Name of | Relationship | For the year | For the year | For the year | For the year | ||||||||||||||||||||||||||
September 30, 2013 | September 30, 2012 | Related parties | ended | ended | ended | ended | |||||||||||||||||||||||||||||
(in thousands) | (in thousands) | December 31, | December 31, | December 31, | December 31, | ||||||||||||||||||||||||||||||
Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | $ | 63,793 | $ | 123,631 | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||||||||||
Sichuan Yutai Trading Co., Ltd | Significant influence by Long Steel Group* | - | 16,998 | (in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||
Shaanxi Yuchang Trading Co., Ltd | Significant influence by Long Steel Group | 1,081 | - | Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | $ | 255,859 | $ | 438,951 | $ | 337,359 | $ | 344,556 | ||||||||||||||||||||||
Shaanxi Haiyan Trade Co.,Ltd | Significant influence by Long Steel Group | 85 | 12,480 | Tianjin Hengying Trading Co., Ltd | Partially owned by CEO* through indirect shareholding | - | 5,953 | 94,984 | 47,268 | ||||||||||||||||||||||||||
Shaanxi Shenganda Trading Co., Ltd | Significant influence by Long Steel Group | 19,866 | 7,599 | Tianjin Dazhan Industry Co, Ltd | Partially owned by CEO through indirect shareholding | - | - | 76,130 | 43,778 | ||||||||||||||||||||||||||
Shaanxi Steel | Majority shareholder of Long Steel Group | 979 | 25 | Sichuan Yutai Trading Co., Ltd | Significant influence by Long Steel Group** | 73 | 147,968 | 187,689 | - | ||||||||||||||||||||||||||
Shaanxi Long Steel Group Baoji Steel Rolling Co., Ltd | Subsidiary of Long Steel Group | 9 | 11,392 | Shaanxi Yuchang Trading Co., Ltd | Significant influence by Long Steel Group | 21,570 | 92,724 | 160,422 | - | ||||||||||||||||||||||||||
Shaanxi Junlong Rolling Co., Ltd | Investee of Long Steel Group | 1,782 | 20,758 | Shaanxi Haiyan Trade Co., Ltd | Significant influence by Long Steel Group | 16,273 | 46,998 | 58,299 | 38,545 | ||||||||||||||||||||||||||
Shaanxi Coal and Chemical Industry Group Co., Ltd | Shareholder of Shaanxi Steel | 7,951 | - | Shaanxi Shenganda Trading Co., Ltd | Significant influence by Long Steel Group | 77,899 | 53,866 | 37,432 | - | ||||||||||||||||||||||||||
Others | Entities either owned or have significant influence by our affiliates or management | - | - | Tianjin General Qiugang Pipe Co., Ltd | Partially owned by CEO through indirect shareholding | - | - | 20,014 | - | ||||||||||||||||||||||||||
Total | $ | 95,546 | $ | 192,883 | Shaanxi Steel | Majority shareholder of Long Steel Group | 3,221 | 3,332 | 19,735 | 1,152 | |||||||||||||||||||||||||
Beijing Daishang Trading Co., Ltd. | Noncontrolling shareholder of Longmen Joint Venture’s subsidiary | - | - | - | 5,503 | ||||||||||||||||||||||||||||||
*Long Steel Group has the ability to significantly influence the operating and financial decisions of the entity through equity ownership either directly or through key employees, commercial contractual terms, or the ability to assign management personnel. | Tianjin Daqiuzhuang Steel Plates Co., Ltd. | Partially owned by CEO through indirect shareholding | - | - | - | 8,385 | |||||||||||||||||||||||||||||
Shaanxi Coal and Chemical Industry Group Co., Ltd. | Shareholder of Shaanxi Steel | 27,911 | 24,515 | - | - | ||||||||||||||||||||||||||||||
Name of related parties | Relationship | Three months | Three months | Shaanxi Long Steel Group Baoji Steel Rolling Co., Ltd | Subsidiary of Long Steel Group | 7,325 | 35,542 | 69,872 | - | ||||||||||||||||||||||||||
ended | ended | Shaanxi Junlong Rolling Co., Ltd | Investee of Long Steel Group | 37,068 | 47,110 | 48,991 | - | ||||||||||||||||||||||||||||
September 30, | September 30, | Others | Entities either owned or have significant influence by our affiliates or management | - | 243 | 842 | 183 | ||||||||||||||||||||||||||||
2011 | 2010 | Total | $ | 447,199 | $ | 897,202 | $ | 1,111,769 | $ | 489,370 | |||||||||||||||||||||||||
(in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||||
*The CEO is referred to herein as the chief executive officer of General Steel Holdings, Inc. | |||||||||||||||||||||||||||||||||||
Long Steel Group | Non-controlling shareholder of Longmen Joint Venture | $ | 118,181 | $ | 79,244 | ||||||||||||||||||||||||||||||
Sichuan Yutai Trading Co., Ltd. | Significant influence by Long Steel Group** | 57,350 | - | **Long Steel Group has the ability to significantly influence the operating and financial decisions of the entity through equity ownership either directly or through key employees, commercial contractual terms, or the ability to assign management personnel. | |||||||||||||||||||||||||||||||
Tianjin Hengying Trading Co., Ltd. | Partially owned by CEO* through indirect shareholding | 26,742 | 14,036 | ||||||||||||||||||||||||||||||||
Tianjin Dazhan Industry Co., Ltd. | Partially owned by CEO through indirect shareholding | 24,348 | 13,381 | ||||||||||||||||||||||||||||||||
Shaanxi Yuchang Trading Co., Ltd. | Significant influence by Long Steel Group | 45,792 | - | ||||||||||||||||||||||||||||||||
Hancheng Haiyan Coking Co., Ltd. | Non-controlling shareholder of Long Steel Group | 18,231 | 9,765 | ||||||||||||||||||||||||||||||||
Junlong Steel Rolling Co., Ltd. | Joint Stock company of Long Steel Group | 16,090 | - | ||||||||||||||||||||||||||||||||
Shaanxi Shenganda Trading Co., Ltd. | Significant influence by Long Steel Group | 12,278 | - | ||||||||||||||||||||||||||||||||
Tianjin General Qiugang Pipe Co., Ltd. | Partially owned by CEO through indirect shareholding | 9,305 | |||||||||||||||||||||||||||||||||
Shaanxi Steel | Majority shareholder of Long Steel Group | 4,826 | 1,035 | ||||||||||||||||||||||||||||||||
Shaanxi Huafu New Energy Co., Ltd. | Significant influence by Long Steel Group | 5 | - | ||||||||||||||||||||||||||||||||
Beijing Daishang Trade Co., Ltd. | Non-controlling shareholder of Longmen Joint Venture’s subsidiary | - | 15 | ||||||||||||||||||||||||||||||||
Tianjin Daqiuzhuang Steel Plates Co., Ltd. | Partially owned by CEO through indirect shareholding | 23 | |||||||||||||||||||||||||||||||||
Others | Entities either owned or have significant influence by our affiliates or management | 2,576 | 2,075 | ||||||||||||||||||||||||||||||||
Total Related Party Sales | $ | 335,724 | $ | 119,574 | |||||||||||||||||||||||||||||||
Name of related parties | Relationship | Nine months ended | Nine months ended | ||||||||||||||||||||||||||||||||
September 30, 2013 | September 30, 2012 | ||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||||
Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | $ | 226,754 | $ | 360,820 | ||||||||||||||||||||||||||||||
Sichuan Yutai Trading Co., Ltd | Significant influence by Long Steel Group | 72 | 147,847 | ||||||||||||||||||||||||||||||||
Shaanxi Yuchang Trading Co., Ltd | Significant influence by Long Steel Group | 21,491 | 41,433 | ||||||||||||||||||||||||||||||||
Shaanxi Haiyan Trade Co.,Ltd | Significant influence by Long Steel Group | 15,681 | 43,015 | ||||||||||||||||||||||||||||||||
Shaanxi Shenganda Trading Co., Ltd | Significant influence by Long Steel Group | 56,545 | 34,132 | ||||||||||||||||||||||||||||||||
Shaanxi Steel | Majority shareholder of Long Steel Group | 2,390 | 634 | ||||||||||||||||||||||||||||||||
Shaanxi Long Steel Group Baoji Steel Rolling Co., Ltd | Subsidiary of Long Steel Group | 2,122 | 31,485 | ||||||||||||||||||||||||||||||||
Shaanxi Junlong Rolling Co., Ltd | Investee of Long Steel Group | 33,075 | 37,965 | ||||||||||||||||||||||||||||||||
Shaanxi Coal and Chemical Industry Group Co., Ltd | Shareholder of Shaanxi Steel | 22,577 | - | ||||||||||||||||||||||||||||||||
Others | Entities either owned or have significant influence by our affiliates or management | - | 1,493 | ||||||||||||||||||||||||||||||||
Total | $ | 380,707 | $ | 698,824 | |||||||||||||||||||||||||||||||
Name of related parties | Relationship | Nine months | Nine months | ||||||||||||||||||||||||||||||||
ended September | ended September | ||||||||||||||||||||||||||||||||||
30, 2011 | 30, 2010 | ||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||||
Long Steel Group | Non-controlling shareholder of Longmen Joint Venture | $ | 297,162 | $ | 262,912 | ||||||||||||||||||||||||||||||
Sichuan Yutai Trading Co., Ltd. | Significant influence by Long Steel Group | 120,260 | - | ||||||||||||||||||||||||||||||||
Tianjin Hengying Trading Co., Ltd. | Partially owned by CEO* through indirect shareholding | 83,210 | 33,304 | ||||||||||||||||||||||||||||||||
Tianjin Dazhan Industry Co., Ltd. | Partially owned by CEO through indirect shareholding | 67,639 | 29,284 | ||||||||||||||||||||||||||||||||
Shaanxi Yuchang Trading Co., Ltd. | Significant influence by Long Steel Group | 85,907 | - | ||||||||||||||||||||||||||||||||
Hancheng Haiyan Coking Co., Ltd. | Non-controlling shareholder of Long Steel Group | 43,340 | 29,133 | ||||||||||||||||||||||||||||||||
Junlong Steel Rolling Co., Ltd. | Joint Stock company of Long Steel Group | 36,171 | - | ||||||||||||||||||||||||||||||||
Shaanxi Shenganda Trading Co., Ltd. | Significant influence by Long Steel Group | 28,428 | - | ||||||||||||||||||||||||||||||||
Tianjin General Qiugang Pipe Co., Ltd. | Partially owned by CEO through indirect shareholding | 19,967 | - | ||||||||||||||||||||||||||||||||
Shaanxi Steel | Majority shareholder of Long Steel Group | 5,926 | 1,968 | ||||||||||||||||||||||||||||||||
Shaanxi Huafu New Energy Co., Ltd. | Significant influence by the Company | 470 | - | ||||||||||||||||||||||||||||||||
Beijing Daishang Trade Co., Ltd. | Non-controlling shareholder of Longmen Joint Venture’s subsidiary | - | 5,471 | ||||||||||||||||||||||||||||||||
Tianjin Daqiuzhuang Steel Plates Co., Ltd. | Partially owned by CEO through indirect shareholding | - | 8,337 | ||||||||||||||||||||||||||||||||
Others | Entities either owned or have significant influence by our affiliates or management | 3,361 | 3,066 | ||||||||||||||||||||||||||||||||
Total Related Party Sales | $ | 791,841 | $ | 373,475 | |||||||||||||||||||||||||||||||
Name of related parties | Relationship | Three months ended | Three months ended | ||||||||||||||||||||||||||||||||
June 30, 2013 | June 30, 2012 | ||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||||
Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | $ | 82,286 | $ | 140,648 | ||||||||||||||||||||||||||||||
Sichuan Yutai Trading Co., Ltd | Significant influence by Long Steel Group | - | 54,110 | ||||||||||||||||||||||||||||||||
Shaanxi Yuchang Trading Co., Ltd | Significant influence by Long Steel Group | 5,975 | - | ||||||||||||||||||||||||||||||||
Shaanxi Haiyan Trade Co.,Ltd | Significant influence by Long Steel Group | 5,004 | 16,091 | ||||||||||||||||||||||||||||||||
Shaanxi Shenganda Trading Co., Ltd | Significant influence by Long Steel Group | 18,393 | 9,566 | ||||||||||||||||||||||||||||||||
Shaanxi Steel | Majority shareholder of Long Steel Group | 448 | 27 | ||||||||||||||||||||||||||||||||
Shaanxi Long Steel Group Baoji Steel Rolling Co., Ltd | Subsidiary of Long Steel Group | 114 | 12,756 | ||||||||||||||||||||||||||||||||
Shaanxi Junlong Rolling Co., Ltd | Investee of Long Steel Group | 11,289 | 7,170 | ||||||||||||||||||||||||||||||||
Shaanxi Coal and Chemical Industry Group Co., Ltd | Shareholder of Shaanxi Steel | 12,792 | - | ||||||||||||||||||||||||||||||||
Others | Entities either owned or have significant influence by our affiliates or management | - | 1,329 | ||||||||||||||||||||||||||||||||
Total | $ | 136,301 | $ | 241,697 | |||||||||||||||||||||||||||||||
Three months | Three months | ||||||||||||||||||||||||||||||||||
ended | ended | ||||||||||||||||||||||||||||||||||
June 30, 2011 | June 30, 2010 | ||||||||||||||||||||||||||||||||||
Name of related parties | Relationship | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||
Long Steel Group | Non-controlling shareholder of Longmen Joint Venture | $ | 35,273 | $ | 79,215 | ||||||||||||||||||||||||||||||
Sichuan Yutai Trading Co., Ltd | Significant influence by Long Steel Group** | 62,910 | - | ||||||||||||||||||||||||||||||||
Tianjin Hengying Trading Co., Ltd | Partially owned by CEO*** through indirect shareholding | 30,982 | 9,418 | ||||||||||||||||||||||||||||||||
Tianjin Dazhan Industry Co., Ltd | Partially owned by CEO through indirect shareholding | 23,030 | 15,903 | ||||||||||||||||||||||||||||||||
Shaanxi Yuchang Trading Co., Ltd | Significant influence by Long Steel Group | 40,115 | - | ||||||||||||||||||||||||||||||||
Hancheng Haiyan Coking Co., Ltd | Non-controlling shareholder of Long Steel Group | 13,716 | 9,043 | ||||||||||||||||||||||||||||||||
Junlong Steel Rolling Co., Ltd | Joint stock company of Long Steel Group | 20,081 | - | ||||||||||||||||||||||||||||||||
Shaanxi Shenganda Trading Co., Ltd | Significant influence by Long Steel Group | 16,150 | - | ||||||||||||||||||||||||||||||||
Tianjin General Qiugang Pipe Co., Ltd | Partially owned by CEO through indirect shareholding | 3,512 | - | ||||||||||||||||||||||||||||||||
Shaanxi Steel | Majority shareholder of Long Steel Group | 579 | 933 | ||||||||||||||||||||||||||||||||
Beijing Daishang Trade Co., Ltd. | Non-controlling shareholder of Longmen Joint Venture’s subsidiary | - | 3,051 | ||||||||||||||||||||||||||||||||
Tianjin Daqiuzhuang Steel Plates Co., Ltd. | Partially owned by CEO through indirect shareholding | - | 2 | ||||||||||||||||||||||||||||||||
Others | Entities either owned or have significant influence by our affiliates or management | 784 | 941 | ||||||||||||||||||||||||||||||||
Total Related Party Sales | $ | 247,132 | $ | 118,506 | |||||||||||||||||||||||||||||||
Name of related parties | Relationship | Six months ended | Six months ended | ||||||||||||||||||||||||||||||||
June 30, 2013 | June 30, 2012 | ||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||||
Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | $ | 162,961 | $ | 237,189 | ||||||||||||||||||||||||||||||
Sichuan Yutai Trading Co., Ltd | Significant influence by Long Steel Group | 72 | 130,849 | ||||||||||||||||||||||||||||||||
Shaanxi Yuchang Trading Co., Ltd | Significant influence by Long Steel Group | 20,410 | 41,433 | ||||||||||||||||||||||||||||||||
Shaanxi Haiyan Trade Co.,Ltd | Significant influence by Long Steel Group | 15,596 | 30,535 | ||||||||||||||||||||||||||||||||
Shaanxi Shenganda Trading Co., Ltd | Significant influence by Long Steel Group | 36,679 | 26,533 | ||||||||||||||||||||||||||||||||
Shaanxi Steel | Majority shareholder of Long Steel Group | 1,411 | 609 | ||||||||||||||||||||||||||||||||
Shaanxi Long Steel Group Baoji Steel Rolling Co., Ltd | Subsidiary of Long Steel Group | 2,113 | 20,093 | ||||||||||||||||||||||||||||||||
Shaanxi Junlong Rolling Co., Ltd | Investee of Long Steel Group | 31,293 | 17,207 | ||||||||||||||||||||||||||||||||
Shaanxi Coal and Chemical Industry Group Co., Ltd | Shareholder of Shaanxi Steel | 14,626 | - | ||||||||||||||||||||||||||||||||
Others | Entities either owned or have significant influence by our affiliates or management | - | 1,493 | ||||||||||||||||||||||||||||||||
Total | $ | 285,161 | $ | 505,941 | |||||||||||||||||||||||||||||||
Six months | Six months | ||||||||||||||||||||||||||||||||||
ended | ended | ||||||||||||||||||||||||||||||||||
Name of related parties | Relationship | June 30, 2011 | June 30, 2010 | ||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||||
Long Steel Group | Non-controlling shareholder of Longmen Joint Venture | $ | 179,446 | $ | 183,668 | ||||||||||||||||||||||||||||||
Sichuan Yutai Trading Co., Ltd | Significant influence by Long Steel Group | 62,910 | - | ||||||||||||||||||||||||||||||||
Tianjin Hengying Trading Co., Ltd | Partially owned by CEO through indirect shareholding | 56,468 | 19,268 | ||||||||||||||||||||||||||||||||
Tianjin Dazhan Industry Co., Ltd | Partially owned by CEO through indirect shareholding | 43,291 | 15,903 | ||||||||||||||||||||||||||||||||
Shaanxi Yuchang Trading Co., Ltd | Significant influence by Long Steel Group | 40,115 | - | ||||||||||||||||||||||||||||||||
Hancheng Haiyan Coking Co., Ltd | Non-controlling shareholder of Long Steel Group | 25,109 | 19,368 | ||||||||||||||||||||||||||||||||
Junlong Steel Rolling Co., Ltd | Joint Stock company of Long Steel Group | 20,081 | - | ||||||||||||||||||||||||||||||||
Shaanxi Shenganda Trading Co., Ltd | Significant influence by Long Steel Group | 16,150 | - | ||||||||||||||||||||||||||||||||
Tianjin General Qiugang Pipe Co., Ltd | Partially owned by CEO through indirect shareholding | 10,662 | - | ||||||||||||||||||||||||||||||||
Shaanxi Steel | Majority shareholder of Long Steel Group | 1,100 | 933 | ||||||||||||||||||||||||||||||||
Beijing Daishang Trade Co., Ltd. | Non-controlling shareholder of Longmen Joint Venture’s subsidiary | - | 5,456 | ||||||||||||||||||||||||||||||||
Tianjin Daqiuzhuang Steel Plates Co., Ltd. | Partially owned by CEO through indirect shareholding | - | 8,314 | ||||||||||||||||||||||||||||||||
Others | Entities either owned or have significant influence by our affiliates or management | 785 | 991 | ||||||||||||||||||||||||||||||||
Total Related Party Sales | $ | 456,117 | $ | 253,901 | |||||||||||||||||||||||||||||||
Name of | Three months ended | Three months ended | Three months ended | ||||||||||||||||||||||||||||||||
related parties | Relationship | March 31, 2013 | March 31, 2012 | March 31, 2011 | |||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||||||||||||||
Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | $ | 80,675 | $ | 96,541 | $ | 144,173 | ||||||||||||||||||||||||||||
Sichuan Yutai Trading Co., Ltd | Significant influence by Long Steel Group | 72 | 76,739 | ||||||||||||||||||||||||||||||||
Shaanxi Yuchang Trading Co., Ltd | Significant influence by Long Steel Group | 14,435 | 41,482 | - | |||||||||||||||||||||||||||||||
Shaanxi Haiyan Trade Co., Ltd | Significant influence by Long Steel Group | 10,592 | 14,444 | - | |||||||||||||||||||||||||||||||
Shaanxi Shenganda Trading Co., Ltd | Significant influence by Long Steel Group | 18,286 | 16,967 | - | |||||||||||||||||||||||||||||||
Shaanxi Steel | Majority shareholder of Long Steel Group | 963 | 582 | 521 | |||||||||||||||||||||||||||||||
Shaanxi Long Steel Group Baoji Steel Rolling Co., Ltd | Subsidiary of Long Steel Group | 1,999 | 7,337 | - | |||||||||||||||||||||||||||||||
Shaanxi Junlong Rolling Co., Ltd | Investee of Long Steel Group | 20,004 | 10,037 | - | |||||||||||||||||||||||||||||||
Shaanxi Coal and Chemical Industry Group Co., Ltd | Shareholder of Shaanxi Steel | 1,834 | - | - | |||||||||||||||||||||||||||||||
Tianjin Hengying Trading CO., Ltd | Common control under CEO | - | - | 25,486 | |||||||||||||||||||||||||||||||
Tianjin Dazhan Industry Co., Ltd | Common control under CEO | - | - | 20,261 | |||||||||||||||||||||||||||||||
Hancheng Haiyan Coking | Investee of Long Steel Group | - | - | 11,393 | |||||||||||||||||||||||||||||||
Tianjin General Qiugang Pipe Co., Ltd | Partially owned by CEO through indirect shareholding | - | - | 7,150 | |||||||||||||||||||||||||||||||
Others | Entities either owned or have significant influence by our affiliates or management | - | 115 | 1 | |||||||||||||||||||||||||||||||
Total | $ | 148,860 | $ | 264,244 | $ | 208,985 | |||||||||||||||||||||||||||||
Schedule Of Related Party Purchases [Table Text Block] | ' | ' | |||||||||||||||||||||||||||||||||
e. The following charts summarize purchases from related parties for the three and nine months ended September 30, 2013, 2012, 2011 and 2010, for the three and six months ended June 30, 2013, 2012, 2011 and 2010, and for the three months ended March 31, 2013, 2012 and 2011.. | The following charts summarize purchases from related parties for the years ended December 31, 2013, 2012, 2011 and 2010. | ||||||||||||||||||||||||||||||||||
Name of related parties | Relationship | Three months ended | Three months ended | Name of | Relationship | For the year | For the year | For the year | For the year | ||||||||||||||||||||||||||
September 30, 2013 | September 30, 2012 | related parties | ended | ended | ended | ended | |||||||||||||||||||||||||||||
(in thousands) | (in thousands) | December 31, | December 31, | December 31, | December 31, | ||||||||||||||||||||||||||||||
Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | $ | 101,606 | $ | 123,637 | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||||||||||
Hancheng Haiyan Coking Co., Ltd | Noncontrolling shareholder of Long Steel Group | 31,331 | 47,487 | (in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||
Xi’an Pinghe Metallurgical Raw Material Co., Ltd | Noncontrolling shareholder of Long Steel Group | 1,181 | 16,674 | Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | $ | 522,295 | $ | 483,058 | $ | 913,850 | $ | 553,752 | ||||||||||||||||||||||
Shaanxi Long Steel Group Baoji Steel Rolling Co., Ltd | Subsidiary of Long Steel Group | - | 1,568 | Hancheng Jinma Coking Co., Ltd | Investee of Longmen Joint Venture’s subsidiary (unconsolidated) | - | - | 4,772 | 8,489 | ||||||||||||||||||||||||||
Shaanxi Junlong Rolling Co., Ltd | Investee of Long Steel Group | 1 | 2,257 | Tianjin Hengying Trading Co., Ltd. | Partially owned by CEO through indirect shareholding | - | 43,160 | - | - | ||||||||||||||||||||||||||
Shaanxi Huafu New Energy Co., Ltd | Significant influence by the Long Steel Group | 10,529 | 10,322 | Tianjin General Qiugang Pipe Co., Ltd. | Partially owned by CEO through indirect shareholding | - | 6,933 | - | - | ||||||||||||||||||||||||||
Beijing Daishang Trading Co., Ltd. | Noncontrolling shareholder of Longmen Joint Venture’s subsidiary | 1,726 | 1,049 | Hancheng Haiyan Coking Co., Ltd | Noncontrolling shareholder of Long Steel Group | 180,401 | 255,800 | 391,065 | 234,479 | ||||||||||||||||||||||||||
Others | Entities either owned or have significant influence by our affiliates or management | 64 | 91 | Xi’an Pinghe Metallurgical Raw Material Co., Ltd | Noncontrolling shareholder of Long Steel Group | 19,943 | 88,094 | 37,890 | - | ||||||||||||||||||||||||||
Total | $ | 146,438 | $ | 203,085 | Shaanxi Long Steel Group Baoji Steel Rolling Co., Ltd | Subsidiary of Long Steel Group | - | 6,379 | 19,076 | - | |||||||||||||||||||||||||
Shaanxi Junlong Rolling Co., Ltd | Investee of Long Steel Group | 213 | 7,334 | 19,110 | - | ||||||||||||||||||||||||||||||
Name of related parties | Relationship | Three months | Three months | Shaanxi Huafu New Energy Co., Ltd | Significant influence by the Long Steel Group | 32,824 | 32,693 | 34,810 | - | ||||||||||||||||||||||||||
ended September | ended September | Beijing Daishang Trading Co., Ltd. | Noncontrolling shareholder of Longmen Joint Venture’s subsidiary | 6,933 | 5,400 | - | - | ||||||||||||||||||||||||||||
30, 2011 | 302,010 | Shaanxi Coal and Chemical Industry Group Co., Ltd. | Shareholder of Shaanxi Steel | 26,047 | - | - | - | ||||||||||||||||||||||||||||
(in thousands) | (in thousands) | Tianwu General Steel Material Trading Co., Ltd. | Investee of General Steel (China) | 76,735 | - | - | - | ||||||||||||||||||||||||||||
Shaanxi Shenganda Trading Co., Ltd. | Significant influence by the Long Steel Group | 20,213 | - | - | - | ||||||||||||||||||||||||||||||
Long Steel Group | Non-controlling shareholder of Longmen Joint Venture | $ | 418,537 | $ | 96,753 | Beijing Daishang Trading Co., Ltd. | Noncontrolling shareholder of Longmen Joint Venture’s subsidiary | - | - | 6,509 | 1,984 | ||||||||||||||||||||||||
Shaanxi Huafu New Energy Co., Ltd. | Significant influence by the Company | 15,123 | - | Others | Entities either owned or have significant influence by our affiliates or management | 797 | 154 | 1,471 | 1,019 | ||||||||||||||||||||||||||
Hancheng Jinma Coking Co., Ltd. | Equity investee of Longmen Joint Venture’s subsidiary (unconsolidated) | - | 1,463 | Total | $ | 886,401 | $ | 929,005 | $ | 1,428,553 | $ | 799,723 | |||||||||||||||||||||||
Hancheng Haiyan Coking Co., Ltd. | Non-controlling shareholder of Long Steel Group | 102,535 | 49,060 | ||||||||||||||||||||||||||||||||
Xian Pinghe Metallurgical Raw Material Co., Ltd. | Non-controlling shareholder of Long Steel Group | 14,727 | - | ||||||||||||||||||||||||||||||||
Beijing Daishang Trading Co., Ltd. | Non-controlling shareholder of Longmen Joint Venture’s subsidiary | 1,704 | 108 | ||||||||||||||||||||||||||||||||
Others | Entities either owned or have significant influence by our affiliates or management | 193 | 349 | ||||||||||||||||||||||||||||||||
Total Related Party Purchases | $ | 552,819 | $ | 147,733 | |||||||||||||||||||||||||||||||
Name of related parties | Relationship | Nine months ended | Nine months ended | ||||||||||||||||||||||||||||||||
September 30, 2013 | September 30, 2012 | ||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||||
Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | $ | 376,104 | $ | 453,947 | ||||||||||||||||||||||||||||||
Hancheng Haiyan Coking Co., Ltd | Noncontrolling shareholder of Long Steel Group | 148,322 | 195,861 | ||||||||||||||||||||||||||||||||
Xi’an Pinghe Metallurgical Raw Material Co., Ltd | Noncontrolling shareholder of Long Steel Group | 13,678 | 83,251 | ||||||||||||||||||||||||||||||||
Shaanxi Long Steel Group Baoji Steel Rolling Co., Ltd | Subsidiary of Long Steel Group | 53 | 5,332 | ||||||||||||||||||||||||||||||||
Shaanxi Junlong Rolling Co., Ltd | Investee of Long Steel Group | 212 | 4,417 | ||||||||||||||||||||||||||||||||
Shaanxi Huafu New Energy Co., Ltd | Significant influence by the Long Steel Group | 28,618 | 24,347 | ||||||||||||||||||||||||||||||||
Beijing Daishang Trading Co., Ltd. | Noncontrolling shareholder of Longmen Joint Venture’s subsidiary | 6,635 | 3,653 | ||||||||||||||||||||||||||||||||
Others | Entities either owned or have significant influence by our affiliates or management | 300 | 305 | ||||||||||||||||||||||||||||||||
Total | $ | 573,922 | $ | 771,113 | |||||||||||||||||||||||||||||||
Name of related parties | Relationship | Nine months | Nine months | ||||||||||||||||||||||||||||||||
ended September | ended September | ||||||||||||||||||||||||||||||||||
30, 2011 | 30, 2010 | ||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||||
Long Steel Group | Non-controlling shareholder of Longmen Joint Venture | $ | 838,495 | $ | 350,593 | ||||||||||||||||||||||||||||||
Shaanxi Huafu New Energy Co., Ltd. | Significant influence by the Company | 15,123 | - | ||||||||||||||||||||||||||||||||
Hancheng Jinma Coking Co., Ltd. | Equity investee of Longmen Joint Venture’s subsidiary (unconsolidated) | 4,717 | 8,441 | ||||||||||||||||||||||||||||||||
Hancheng Haiyan Coking Co., Ltd. | Non-controlling shareholder of Long Steel Group | 307,791 | 166,895 | ||||||||||||||||||||||||||||||||
Xian Pinghe Metallurgical Raw Material Co., Ltd. | Non-controlling shareholder of Long Steel Group | 27,641 | - | ||||||||||||||||||||||||||||||||
Beijing Daishang Trading Co., Ltd. | Non-controlling shareholder of Longmen Joint Venture’s subsidiary | 5,068 | 1,119 | ||||||||||||||||||||||||||||||||
Others | Entities either owned or have significant influence by our affiliates or management | 825 | 664 | ||||||||||||||||||||||||||||||||
Total Related Party Purchases | $ | 1,199,660 | $ | 527,712 | |||||||||||||||||||||||||||||||
Name of related parties | Relationship | Three months | Three months | ||||||||||||||||||||||||||||||||
ended | ended | ||||||||||||||||||||||||||||||||||
June 30, 2013 | June 30, 2012 | ||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||||
Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | $ | 170,005 | $ | 128,286 | ||||||||||||||||||||||||||||||
Hancheng Haiyan Coking Co., Ltd | Noncontrolling shareholder of Long Steel Group | 53,193 | 72,390 | ||||||||||||||||||||||||||||||||
Xi’an Pinghe Metallurgical Raw Material Co., Ltd | Noncontrolling shareholder of Long Steel Group | 742 | 15,196 | ||||||||||||||||||||||||||||||||
Shaanxi Long Steel Group Baoji Steel Rolling Co., Ltd | Subsidiary of Long Steel Group | - | 2,220 | ||||||||||||||||||||||||||||||||
Shaanxi Junlong Rolling Co., Ltd | Investee of Long Steel Group | 1 | 26 | ||||||||||||||||||||||||||||||||
Shaanxi Huafu New Energy Co., Ltd | Significant influence by the Long Steel Group | 8,560 | 8,744 | ||||||||||||||||||||||||||||||||
Beijing Daishang Trading Co., Ltd. | Noncontrolling shareholder of Longmen Joint Venture’s subsidiary | 1,432 | 2,202 | ||||||||||||||||||||||||||||||||
Others | Entities either owned or have significant influence by our affiliates or management | 166 | 126 | ||||||||||||||||||||||||||||||||
Total | $ | 234,099 | $ | 229,190 | |||||||||||||||||||||||||||||||
Three months | Three months | ||||||||||||||||||||||||||||||||||
ended | ended | ||||||||||||||||||||||||||||||||||
Name of related parties | Relationship | June 30, 2011 | June 30, 2010 | ||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||||
Long Steel Group | Non-controlling shareholder of Longmen Joint Venture | $ | 225,597 | $ | 141,088 | ||||||||||||||||||||||||||||||
Hancheng Jinma Coking Co., Ltd. | Equity investee of Longmen Joint Venture’s subsidiary (unconsolidated) | 28 | 3,551 | ||||||||||||||||||||||||||||||||
Hancheng Haiyan Coking Co., Ltd. | Non-controlling shareholder of Long Steel Group | 105,220 | 65,777 | ||||||||||||||||||||||||||||||||
Xian Pinghe Metallurgical Raw Material Co., Ltd. | Non-controlling shareholder of Long Steel Group | 12,914 | - | ||||||||||||||||||||||||||||||||
Beijing Daishang Trading Co., Ltd. | Non-controlling shareholder of Longmen Joint Venture’s subsidiary | 3,364 | - | ||||||||||||||||||||||||||||||||
Others | Entities either owned or have significant influence by our affiliates or management | 609 | 284 | ||||||||||||||||||||||||||||||||
Total Related Party Purchases | $ | 347,732 | $ | 210,700 | |||||||||||||||||||||||||||||||
Name of related parties | Relationship | Six months ended | Six months ended | ||||||||||||||||||||||||||||||||
June 30, 2013 | June, 2012 | ||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||||
Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | $ | 274,498 | $ | 330,310 | ||||||||||||||||||||||||||||||
Hancheng Haiyan Coking Co., Ltd | Noncontrolling shareholder of Long Steel Group | 116,991 | 148,374 | ||||||||||||||||||||||||||||||||
Xi’an Pinghe Metallurgical Raw Material Co., Ltd | Noncontrolling shareholder of Long Steel Group | 12,497 | 66,577 | ||||||||||||||||||||||||||||||||
Shaanxi Long Steel Group Baoji Steel Rolling Co., Ltd | Subsidiary of Long Steel Group | 53 | 3,764 | ||||||||||||||||||||||||||||||||
Shaanxi Junlong Rolling Co., Ltd | Investee of Long Steel Group | 211 | 2,160 | ||||||||||||||||||||||||||||||||
Shaanxi Huafu New Energy Co., Ltd | Significant influence by the Long Steel Group | 18,089 | 14,025 | ||||||||||||||||||||||||||||||||
Beijing Daishang Trading Co., Ltd. | Noncontrolling shareholder of Longmen Joint Venture’s subsidiary | 4,909 | 2,604 | ||||||||||||||||||||||||||||||||
Others | Entities either owned or have significant influence by our affiliates or management | 236 | 214 | ||||||||||||||||||||||||||||||||
Total | $ | 427,484 | $ | 568,028 | |||||||||||||||||||||||||||||||
Six months | Six months | ||||||||||||||||||||||||||||||||||
ended | ended | ||||||||||||||||||||||||||||||||||
Name of related parties | Relationship | June 30, 2011 | June 30, 2010 | ||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||||
Long Steel Group | Non-controlling shareholder of Longmen Joint Venture | $ | 419,958 | $ | 253,840 | ||||||||||||||||||||||||||||||
Hancheng Jinma Coking Co., Ltd. | Equity investee of Longmen Joint Venture’s subsidiary (unconsolidated) | 4,717 | 6,978 | ||||||||||||||||||||||||||||||||
Hancheng Haiyan Coking Co., Ltd. | Non-controlling shareholder of Long Steel Group | 205,256 | 117,835 | ||||||||||||||||||||||||||||||||
Xian Pinghe Metallurgical Raw Material Co., Ltd. | Non-controlling shareholder of Long Steel Group | 12,914 | - | ||||||||||||||||||||||||||||||||
Beijing Daishang Trading Co., Ltd. | Non-controlling shareholder of Longmen Joint Venture’s subsidiary | 3,364 | 1,011 | ||||||||||||||||||||||||||||||||
Others | Entities either owned or have significant influence by our affiliates or management | 632 | 315 | ||||||||||||||||||||||||||||||||
Total Related Party Purchases | $ | 646,841 | $ | 379,979 | |||||||||||||||||||||||||||||||
Three months ended | Three months ended | Three months ended | |||||||||||||||||||||||||||||||||
Name of related parties | Relationship | March 31, 2013 | March 31, 2012 | March 31, 2011 | |||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||||||||||||||
Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | $ | 104,493 | $ | 202,024 | $ | 194,361 | ||||||||||||||||||||||||||||
Hancheng Haiyan Coking Co., Ltd | Noncontrolling shareholder of Long Steel Group | 63,798 | 75,984 | 100,036 | |||||||||||||||||||||||||||||||
Xi’an Pinghe Metallurgical Raw | Noncontrolling shareholder of Long Steel Group | 11,755 | 51,381 | - | |||||||||||||||||||||||||||||||
Material Co., Ltd | |||||||||||||||||||||||||||||||||||
Shaanxi Long Steel Group Baoji Steel Rolling Co., Ltd | Subsidiary of Long Steel Group | 53 | 1,544 | - | |||||||||||||||||||||||||||||||
Shaanxi Junlong Rolling Co., Ltd | Investee of Long Steel Group | 210 | 2,134 | - | |||||||||||||||||||||||||||||||
Shaanxi Huafu New Energy Co., Ltd | Significant influence by the Long Steel Group | 9,529 | 5,281 | - | |||||||||||||||||||||||||||||||
Beijing Daishang Trading Co., Ltd. | Noncontrolling shareholder of Longmen Joint Venture’s subsidiary | 3,477 | 402 | - | |||||||||||||||||||||||||||||||
Hancheng Jinma Coking Co., Ltd | Investee of Longmen Joint Venture’s subsidiary(unconsolidated) | - | - | 4,689 | |||||||||||||||||||||||||||||||
Others | Entities either owned or have significant influence by our affiliates or management | 70 | 88 | 23 | |||||||||||||||||||||||||||||||
Total | $ | 193,385 | $ | 338,838 | $ | 299,109 | |||||||||||||||||||||||||||||
Schedule Of Related Party Transactions Loan Receivables From Related Party [Table Text Block] | ' | ' | |||||||||||||||||||||||||||||||||
a. | Loans receivable – related parties: | Loans receivable – related parties: | |||||||||||||||||||||||||||||||||
Name of | Relationship | September 30, | June 30, | March 31, | December 31, | Name of | Relationship | December 31, | December 31, | December 31, | December 31, | ||||||||||||||||||||||||
related parties | 3013 | 2013 | 2013 | 2012 | related parties | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||
Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | $ | - | $ | - | $ | - | $ | 63,319 | Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | $ | - | $ | 63,319 | $ | - | $ | - | ||||||||||||||||
Teamlink Investment Co., Ltd | Partially owned by CEO** through indirect shareholding | 4,540 | 6,000 | 6,000 | 6,000 | Teamlink Investment Co., Ltd | Partially owned by CEO through indirect shareholding | 4,540 | 6,000 | - | - | ||||||||||||||||||||||||
Total | $ | 4,540 | $ | 6,000 | $ | 6,000 | $ | 69,319 | Total | $ | 4,540 | $ | 69,319 | $ | - | $ | - | ||||||||||||||||||
**The CEO is referred to herein as the chief executive officer of General Steel Holdings, Inc. | |||||||||||||||||||||||||||||||||||
Name of | Relationship | September 30, | June 30, | March 31, | December 31, | ||||||||||||||||||||||||||||||
related parties | 2012 | 2012 | 2012 | 2011 | |||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||
Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | $ | 63,159 | $ | 63,239 | $ | 63,199 | $ | - | ||||||||||||||||||||||||||
Teamlink Investment Co., Ltd | Partially owned by CEO through indirect shareholding | 4,000 | 4,000 | - | - | ||||||||||||||||||||||||||||||
Total | $ | 67,159 | $ | 67,239 | $ | 63,199 | $ | - | |||||||||||||||||||||||||||
Schedule Of Related Party Transactions, Accounts Receivables From Related Party [Table Text Block] | ' | ' | |||||||||||||||||||||||||||||||||
b. | Accounts receivables – related parties: | Accounts receivables – related parties: | |||||||||||||||||||||||||||||||||
Name of | Relationship | September 30, | June 30, | March 31, | December 31, | Name of | Relationship | December 31, | December 31, | December 31, | December 31, | ||||||||||||||||||||||||
related parties | 3013 | 2013 | 2013 | 2012 | related parties | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||
Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | $ | 1,834 | $ | 1,319 | $ | 3,441 | $ | 10,409 | Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | $ | 548 | $ | 10,409 | $ | 9,187 | $ | 3,023 | ||||||||||||||||
Shaanxi Long Steel Group Baoji Steel Rolling Co., Ltd | Subsidiary of Long Steel Group | - | 3,183 | 3,019 | 2,017 | Shaanxi Long Steel Group Baoji Steel Rolling Co., Ltd | Subsidiary of Long Steel Group | - | 2,017 | 3,141 | - | ||||||||||||||||||||||||
Tianjin Daqiuzhuang Steel Plates | Partially owned by CEO through indirect shareholding | 19 | 19 | 18 | 18 | Tianjin Daqiuzhuang Steel Plates | Partially owned by CEO through indirect shareholding | 19 | 18 | 755 | - | ||||||||||||||||||||||||
Shaanxi Steel | Majority shareholder of Long Steel Group | 1,227 | 1,521 | 1,102 | 2,435 | Tianjin Hengying Trading Co., Ltd. | Partially owned by CEO through indirect shareholding | - | - | - | 1,054 | ||||||||||||||||||||||||
Others | 172 | 170 | 651 | 87 | Shaanxi Steel | Majority shareholder of Long Steel Group | 1,741 | 2,435 | 7,207 | 83 | |||||||||||||||||||||||||
Total | $ | 3,252 | $ | 6,212 | $ | 8,231 | $ | 14,966 | Others | 634 | 87 | 303 | - | ||||||||||||||||||||||
Total | $ | 2,942 | $ | 14,966 | $ | 20,593 | $ | 4,160 | |||||||||||||||||||||||||||
Name of related | |||||||||||||||||||||||||||||||||||
parties | |||||||||||||||||||||||||||||||||||
Relationship | September 30, | 30-Jun-12 | March 31, | December 31, | |||||||||||||||||||||||||||||||
2012 | 2012 | 2011 | |||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||
Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | $ | 12,306 | $ | 56,445 | $ | 35,650 | $ | 9,187 | ||||||||||||||||||||||||||
Shaanxi Long Steel Group Baoji Steel Rolling Co., Ltd | Subsidiary of Long Steel Group | 3,178 | 3,725 | 4,749 | 3,141 | ||||||||||||||||||||||||||||||
Tianjin Daqiuzhuang Steel Plates | Partially owned by CEO through indirect shareholding | 761 | 762 | 762 | 755 | ||||||||||||||||||||||||||||||
Tianjin Hengying Trading Co., Ltd. | Partially owned by CEO through indirect shareholding | 4,071 | - | - | - | ||||||||||||||||||||||||||||||
Hancheng Haiyan Coking Co., Ltd. | Non-controlling shareholder of Longmen Joint Venture | - | - | - | - | ||||||||||||||||||||||||||||||
Gansu Yulong Trading Co., Ltd. | Significant influence by Long Steel Group | - | 17,438 | 2,525 | - | ||||||||||||||||||||||||||||||
Shaanxi Steel | Majority shareholder of Long Steel Group | 7,106 | 8,697 | 9,064 | 7,207 | ||||||||||||||||||||||||||||||
Others | 924 | 306 | 306 | 303 | |||||||||||||||||||||||||||||||
Total | $ | 28,346 | $ | 87,373 | $ | 53,056 | $ | 20,593 | |||||||||||||||||||||||||||
Name of related parties | Relationship | September 30, | 30-Jun-11 | December 31, | |||||||||||||||||||||||||||||||
2011 | 2010 | ||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||||||||||||||
Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | $ | 7,618 | $ | 36,003 | $ | 3,023 | ||||||||||||||||||||||||||||
Shaanxi Long Steel Group Baoji Steel Rolling Co., Ltd | Subsidiary of Long Steel Group | - | 2,543 | - | |||||||||||||||||||||||||||||||
Tianjin Daqiuzhuang Steel Plates | Partially owned by CEO through indirect shareholding | 752 | 1081 | - | |||||||||||||||||||||||||||||||
Tianjin Hengying Trading Co., Ltd. | Partially owned by CEO through indirect shareholding | - | - | 1,054 | |||||||||||||||||||||||||||||||
Hancheng Haiyan Coking Co., Ltd. | 318 | - | - | ||||||||||||||||||||||||||||||||
Tianjin Hancheng Haiyan Coking Co., Ltd. | Partially owned by CEO through indirect shareholding | - | 2,111 | - | |||||||||||||||||||||||||||||||
Shaanxi Steel | Majority shareholder of Long Steel Group | 1,860 | 1,654 | 83 | |||||||||||||||||||||||||||||||
Others | 46 | 108 | |||||||||||||||||||||||||||||||||
Total | $ | 10,594 | $ | 43,500 | $ | 4,160 | |||||||||||||||||||||||||||||
Schedule Of Related Party Transactions, Other Receivables Related Parties [Table Text Block] | ' | ' | |||||||||||||||||||||||||||||||||
c. | Other receivables – related parties: | Other receivables – related parties: | |||||||||||||||||||||||||||||||||
Other receivables - related parties are those nontrade receivables arising from transactions between the Company and its related parties, such as advances or payments made on behalf of these related parties. | Other receivables - related parties are those nontrade receivables arising from transactions between the Company and its related parties, such as advances or payments made on behalf of these related parties. | ||||||||||||||||||||||||||||||||||
Name of | Relationship | September 30, | June 30, | March 31, | December 31, | Name of | Relationship | December 31, | December 31, | December 31, | December 31, | ||||||||||||||||||||||||
related parties | 3013 | 2013 | 2013 | 2012 | related parties | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||
Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | $ | 561 | $ | 3114 | $ | 17438 | $ | 301 | Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | $ | 406 | $ | 301 | $ | 15,244 | $ | 993 | ||||||||||||||||
Shaanxi Steel | Majority shareholder of Long Steel Group | 44,811 | 54,082 | 69,455 | 65,981 | Shaanxi Steel | Majority shareholder of Long Steel Group | 46,439 | 65,981 | 66,869 | - | ||||||||||||||||||||||||
Tianjin General Quigang Pipe Co., Ltd | Partially owned by CEO through indirect shareholding | 1,228 | 1,220 | 1,202 | 1,195 | Maoming Shengze Trading Co., Ltd | Partially owned by CEO through indirect shareholding | - | - | 937 | 8,095 | ||||||||||||||||||||||||
Tianjin Dazhan Industry Co, Ltd | Partially owned by CEO through indirect shareholding | 489 | 486 | 479 | 476 | Tianjin Daqiuzhuang Steel Plates Co., Ltd. | Partially owned by CEO through indirect shareholding | - | - | - | 1,078 | ||||||||||||||||||||||||
Maoming Shengze Trading Co., Ltd | Partially owned by CEO through indirect shareholding | 3,834 | 3,811 | - | - | Shaanxi Huafu New Energy Co., Ltd | Significant influence by Long Steel Group | - | - | 2,441 | - | ||||||||||||||||||||||||
Others | Entities either owned or have significant influence by our affiliates or management | 578 | 510 | 441 | 429 | Teamlink Investment Co., Ltd | Owned by CEO through indirect shareholding | - | - | 2,000 | - | ||||||||||||||||||||||||
Total | $ | 51,501 | $ | 63,223 | $ | 89,015 | $ | 68,382 | Tianjin General Quigang Pipe Co., Ltd | Partially owned by CEO through indirect shareholding | 1,247 | 1,195 | - | - | |||||||||||||||||||||
Tianjin Dazhan Industry Co, Ltd | Partially owned by CEO through indirect shareholding | 491 | 476 | - | 455 | ||||||||||||||||||||||||||||||
Name of related | Relationship | September 30, | 30-Jun-12 | March 31, | December 31, | Beijing Shenhua Xinyuan Metal Materials Co., Ltd. | Partially owned by CEO through indirect shareholding | 4,901 | - | - | - | ||||||||||||||||||||||||
parties | 2012 | 2012 | 2011 | Others | Entities either owned or have significant influence by our affiliates or management | 622 | 429 | 188 | 317 | ||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | Total | $ | 54,106 | $ | 68,382 | $ | 87,679 | $ | 10,938 | |||||||||||||||||||||||
Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | $ | 3,734 | $ | 1,847 | $ | - | $ | 15,244 | ||||||||||||||||||||||||||
Shaanxi Steel | Majority shareholder of Long Steel Group | 60,674 | 51,347 | 64,855 | 66,869 | ||||||||||||||||||||||||||||||
Maoming Shengze Trading Co., Ltd | Partially owned by CEO through indirect shareholding | - | 325 | 747 | 937 | ||||||||||||||||||||||||||||||
Tianjin Daqiuzhuang Steel Plates Co., Ltd. | Partially owned by CEO through indirect shareholding | - | - | 55 | - | ||||||||||||||||||||||||||||||
Tianjin General Qiugang Pipe Co., Ltd. | Partially owned by CEO through indirect shareholding | - | 4 | 9,508 | - | ||||||||||||||||||||||||||||||
Shaanxi Huafu New Energy Co., Ltd | Significant influence by Long Steel Group | - | - | - | 2,441 | ||||||||||||||||||||||||||||||
Tianjin Dazhan Industry Co, Ltd | Partially owned by CEO through indirect shareholding | 475 | 476 | 475 | |||||||||||||||||||||||||||||||
Teamlink Investment Co., Ltd | Owned by CEO through indirect shareholding | - | - | - | 2,000 | ||||||||||||||||||||||||||||||
Others | Entities either owned or have significant influence by our affiliates or management | 367 | 401 | 412 | 188 | ||||||||||||||||||||||||||||||
Total | $ | 65,250 | $ | 54,400 | $ | 76,052 | $ | 87,679 | |||||||||||||||||||||||||||
Name of | Relationship | September 30, | 30-Jun-11 | December 31, | |||||||||||||||||||||||||||||||
related parties | 2011 | 2010 | |||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||||||||||||||
Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | $ | 14,436 | $ | 14,834 | $ | 993 | ||||||||||||||||||||||||||||
Shaanxi Steel | Majority shareholder of Long Steel Group | 69,209 | 69,028 | - | |||||||||||||||||||||||||||||||
Maoming Shengze Trading Co., Ltd | Partially owned by CEO through indirectshareholding | - | 4,355 | 8,095 | |||||||||||||||||||||||||||||||
Tianjin Daqiuzhuang Steel Plates Co., Ltd. | Partially owned by CEO through indirectshareholding | 54 | 58 | 1,078 | |||||||||||||||||||||||||||||||
Shaanxi Huafu New Energy Co., Ltd | Significant influence by Long Steel Group | 3,506 | 2,404 | - | |||||||||||||||||||||||||||||||
Tianjin Dazhan Industry Co, Ltd | Partially owned by CEO through indirect shareholding | - | 464 | 455 | |||||||||||||||||||||||||||||||
Others | Entities either owned or have significant influence by our affiliates or management | 543 | 585 | 317 | |||||||||||||||||||||||||||||||
Total | $ | 87,748 | $ | 91,728 | $ | 10,938 | |||||||||||||||||||||||||||||
Schedule Of Related Party Transactions, Advances On Inventory Purchase From Related Parties [Table Text Block] | ' | ' | |||||||||||||||||||||||||||||||||
d. | Advances on inventory purchase – related parties: | ||||||||||||||||||||||||||||||||||
Advances on inventory purchase – related parties: | |||||||||||||||||||||||||||||||||||
Name of | Relationship | December 31, | December 31, | December 31, | December 31, | ||||||||||||||||||||||||||||||
Name of | Relationship | September 30, | June 30, | March 31, | December 31, | related parties | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||||||||
related parties | 3013 | 2013 | 2013 | 2012 | (in thousands) | (in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | $ | 9,123 | $ | 1,367 | $ | 1,028 | $ | - | ||||||||||||||||||||||
Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | $ | 1,377 | $ | 1,393 | $ | 1,373 | $ | 1,367 | Shaanxi Shenganda Trading Co., Ltd. | Significant influence by Long Steel Group | 25,607 | - | - | - | ||||||||||||||||||||
Tianjin Dazhan Industry Co., Ltd | Partially owned by CEO through indirect shareholding | 6,254 | - | - | - | Tianjin Dazhan Industry Co., Ltd | Partially owned by CEO through indirect shareholding | 10,343 | - | - | - | ||||||||||||||||||||||||
Tianjin Hengying Trading Co., Ltd | Partially owned by CEO through indirect shareholding | 12,805 | - | - | Tianjin Hengying Trading Co., Ltd | Partially owned by CEO through indirect shareholding | 16,158 | - | - | - | |||||||||||||||||||||||||
Tianjin General Qiugang Pipe Co., Ltd | Partially owned by CEO through indirect shareholding | 9,210 | 34 | 34 | 41,316 | Tianjin General Qiugang Pipe Co., Ltd | Partially owned by CEO through indirect shareholding | 555 | 41,316 | 15,678 | 6,187 | ||||||||||||||||||||||||
Maoming Shengze Trading Co., Ltd | Partially owned by CEO through indirect shareholding | - | - | 3,754 | 3,733 | Maoming Shengze Trading Co., Ltd | Partially owned by CEO through indirect shareholding | 21,197 | 3,733 | 3,538 | - | ||||||||||||||||||||||||
Others | Entities either owned or have significant influence by our affiliates or management | 21 | 964 | 98 | - | Others | Entities either owned or have significant influence by our affiliates or management | 20 | - | - | - | ||||||||||||||||||||||||
Total | $ | 29,667 | $ | 2,391 | $ | 5,259 | $ | 46,416 | Total | $ | 83,003 | $ | 46,416 | $ | 20,244 | $ | 6,187 | ||||||||||||||||||
Name of | Relationship | September 30, | 30-Jun-12 | March 31, | December 31, | ||||||||||||||||||||||||||||||
related parties | 2012 | 2012 | 2011 | ||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||
Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | $ | 13,757 | $ | 2 | $ | - | $ | 1,028 | ||||||||||||||||||||||||||
Shaanxi Steel | Majority shareholder of Long Steel Group | 5,672 | - | - | - | ||||||||||||||||||||||||||||||
Tianjin Hengying Trading Co., Ltd | Partially owned by CEO through indirect shareholding | 9,471 | - | - | - | ||||||||||||||||||||||||||||||
Tianjin General Qiugang Pipe Co., Ltd | Partially owned by CEO through indirect shareholding | 46,236 | 49,043 | 73,123 | 15,678 | ||||||||||||||||||||||||||||||
Maoming Shengze Trading Co., Ltd | Partially owned by CEO through indirect shareholding | 3724 | 3728 | 3,726 | 3538 | ||||||||||||||||||||||||||||||
Total | $ | 78,860 | $ | 52,773 | $ | 76,849 | $ | 20,244 | |||||||||||||||||||||||||||
Name of related | Relationship | 30-Sep-11 | 30-Jun-11 | 31-Dec-10 | |||||||||||||||||||||||||||||||
parties | |||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||||||||||||||
Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | $ | 40,116 | $ | - | $ | - | ||||||||||||||||||||||||||||
Tianjin General Qiugang Pipe Co., Ltd | Partially owned by CEO through indirect shareholding | 36,377 | 11,335 | 6,187 | |||||||||||||||||||||||||||||||
Maoming Shengze Trading Co., Ltd | Partially owned by CEO through indirect shareholding | 3,055 | 1,643 | ||||||||||||||||||||||||||||||||
Others | Entities either owned or have significant influence by our affiliates or management | 345 | 165 | - | |||||||||||||||||||||||||||||||
Total | $ | 79,893 | $ | 13,143 | $ | 6,187 | |||||||||||||||||||||||||||||
Schedule Of Related Party Transactions, Accounts Payable Related Parties [Table Text Block] | ' | ' | |||||||||||||||||||||||||||||||||
e. | Accounts payable - related parties: | Accounts payable - related parties: | |||||||||||||||||||||||||||||||||
Name of | Relationship | September 30, | June 30, | March 31, | December 31, | Name of | Relationship | December 31, | December 31, | December 31, | December 31, | ||||||||||||||||||||||||
related parties | 3013 | 2013 | 2013 | 2012 | related parties | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||
Hancheng Haiyan Coking Co., Ltd | Noncontrolling shareholder of Longmen Joint Venture | $ | 60,463 | $ | 56,187 | $ | 66,042 | $ | 58,661 | Hancheng Haiyan Coking Co., Ltd | Noncontrolling shareholder of Longmen Joint Venture | $ | 58,163 | $ | 58,661 | $ | 46,487 | $ | 25,708 | ||||||||||||||||
Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | 100,579 | 108,045 | 77,254 | 91,511 | Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | 134,758 | 91,511 | 11,231 | 28,329 | ||||||||||||||||||||||||
Shaanxi Coal and Chemical Industry Group Co., Ltd. | Shareholder of Shaanxi Steel | - | - | - | 5,652 | Shaanxi Coal and Chemical Industry Group Co., Ltd. | Shareholder of Shaanxi Steel | 29,990 | 5,652 | - | - | ||||||||||||||||||||||||
Tianjin Dazhan Industry Co., Ltd | Partially owned by CEO through indirect shareholding | 954 | 63 | 3 | 3 | Tianjin Dazhan Industry Co., Ltd | Partially owned by CEO through indirect shareholding | 958 | 3 | 25,511 | 2,764 | ||||||||||||||||||||||||
Xi’an Pinghe Metallurgical Raw Material Co., Ltd | Noncontrolling shareholder of Long Steel Group | 7,838 | 5,684 | 7,223 | 5,278 | Xi’an Pinghe Metallurgical Raw Material Co., Ltd | Noncontrolling shareholder of Long Steel Group | 8,714 | 5,278 | 12,800 | - | ||||||||||||||||||||||||
Tianjin Hengying Trading Co., Ltd | Partially owned by CEO through indirect shareholding | 1 | 1 | 1 | 13,919 | Tianjin Hengying Trading Co., Ltd | Partially owned by CEO through indirect shareholding | 1 | 13,919 | 14,856 | 17,264 | ||||||||||||||||||||||||
Henan Xinmi Kanghua Fire Refractory Co., Ltd | Noncontrolling shareholder of Longmen Joint Venture’s subsidiary | 722 | 692 | 1,011 | 1,146 | Henan Xinmi Kanghua Fire Refractory Co., Ltd | Noncontrolling shareholder of Longmen Joint Venture’s subsidiary | 716 | 1,146 | 1,185 | 880 | ||||||||||||||||||||||||
Beijing Daishang Trading Co., Ltd | Noncontrolling shareholder of Longmen Joint Venture’s subsidiary | 1,149 | 1,080 | 2,548 | 875 | Hancheng Jinma Coking Co., Ltd | Investee of Longmen Joint Venture’s subsidiary (unconsolidated) | - | - | - | 1,579 | ||||||||||||||||||||||||
Tianjin General Qiugang Pipe Co., Ltd | Partially owned by CEO through indirect shareholding | - | - | - | 52 | Beijing Daishang Trading Co., Ltd | Noncontrolling shareholder of Longmen Joint Venture’s subsidiary | 1,004 | 875 | 1,600 | 1,101 | ||||||||||||||||||||||||
Others | Entities either owned or have significant influence by our affiliates or management | 553 | 554 | 410 | 335 | Maoming Shengze Trading Co., Ltd | Partially owned by CEO through indirect shareholding | - | - | - | 1,954 | ||||||||||||||||||||||||
Total | $ | 172,259 | $ | 172,306 | $ | 154,492 | $ | 177,432 | Tianjin General Qiugang Pipe Co., Ltd | Partially owned by CEO through indirect shareholding | - | 52 | 8,034 | - | |||||||||||||||||||||
Tianwu General Steel Material Trading Co., Ltd. | Investee of General Steel (China) | 759 | - | - | - | ||||||||||||||||||||||||||||||
Name of related | Relationship | September 30, | June 30, | March 31, | December 31, | Others | Entities either owned or have significant influence by our affiliates or management | 629 | 335 | 124 | 115 | ||||||||||||||||||||||||
parties | 2012 | 2012 | 2012 | 2011 | Total | $ | 235,692 | $ | 177,432 | $ | 121,828 | $ | 79,694 | ||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||
Hancheng Haiyan Coking Co., Ltd | Noncontrolling shareholder of Longmen Joint Venture | $ | 45,057 | $ | 44,328 | $ | 37,984 | $ | 46,487 | ||||||||||||||||||||||||||
Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | 42,247 | 43,414 | 56,582 | 11,231 | ||||||||||||||||||||||||||||||
Tianjin Dazhan Industry Co., Ltd | Partially owned by CEO through indirect shareholding | 3 | 3 | 3 | 25,511 | ||||||||||||||||||||||||||||||
Xi’an Pinghe Metallurgical Raw Material Co., Ltd | Noncontrolling shareholder of Long Steel Group | 4,846 | 17,615 | 48,920 | 12,800 | ||||||||||||||||||||||||||||||
Tianjin Hengying Trading Co., Ltd | Partially owned by CEO through indirect shareholding | 23,844 | 8,974 | 40,115 | 14,856 | ||||||||||||||||||||||||||||||
Henan Xinmi Kanghua Fire Refractory Co., Ltd | Noncontrolling shareholder of Longmen Joint Venture’s subsidiary | 905 | 1,010 | 1,008 | 1,185 | ||||||||||||||||||||||||||||||
Beijing Daishang Trading Co., Ltd | Noncontrolling shareholder of Longmen Joint Venture’s subsidiary | 584 | 1,021 | 93 | 1,600 | ||||||||||||||||||||||||||||||
Tianjin General Qiugang Pipe Co., Ltd | Partially owned by CEO through indirect shareholding | 52 | 52 | 5,233 | 8,034 | ||||||||||||||||||||||||||||||
Others | Entities either owned or have significant influence by our affiliates or management | 124 | 266 | 125 | 124 | ||||||||||||||||||||||||||||||
Total | $ | 117,662 | $ | 116,683 | $ | 190,063 | $ | 121,828 | |||||||||||||||||||||||||||
Name of related | Relationship | September 30, | June 30, 2011 | December 31, | |||||||||||||||||||||||||||||||
parties | 2011 | 2010 | |||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||||||||||||||
Hancheng Haiyan Coking Co., Ltd | Noncontrolling shareholder of Longmen Joint Venture | $ | 30,141 | $ | 39,744 | $ | 25,708 | ||||||||||||||||||||||||||||
Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | 23,108 | 42,893 | 28,329 | |||||||||||||||||||||||||||||||
Shaanxi Huafu New Energy Co., Ltd | Significant influence by Long Steel Group | 4,182 | - | - | |||||||||||||||||||||||||||||||
Tianjin Dazhan Industry Co., Ltd | Partially owned by CEO through indirect shareholding | 32,034 | 23,990 | 2,764 | |||||||||||||||||||||||||||||||
Xi’an Pinghe Metallurgical Raw Material Co., Ltd | Noncontrolling shareholder of Long Steel Group | 3,912 | 15,557 | - | |||||||||||||||||||||||||||||||
Tianjin Hengying Trading Co., Ltd | Partially owned by CEO through indirect shareholding | 19,049 | 845 | 17,264 | |||||||||||||||||||||||||||||||
Henan Xinmi Kanghua Fire Refractory Co., Ltd | Noncontrolling shareholder of Longmen Joint Venture’s subsidiary | 417 | 1,031 | 880 | |||||||||||||||||||||||||||||||
Hancheng Jinma Coking Co., Ltd | Investee of Longmen Joint Venture’s subsidiary(unconsolidated) | - | 1,678 | 1,579 | |||||||||||||||||||||||||||||||
Beijing Daishang Trading Co., Ltd | Noncontrolling shareholder of Longmen Joint Venture’s subsidiary | 1,200 | 1,803 | 1,101 | |||||||||||||||||||||||||||||||
Maoming Shengze Trading Co., Ltd | Partially owned by CEO through indirect shareholding | - | - | 1,954 | |||||||||||||||||||||||||||||||
Others | Entities either owned or have significant influence by our affiliates or management | 266 | 257 | 115 | |||||||||||||||||||||||||||||||
Total | $ | 114,309 | $ | 127,798 | $ | 79,694 | |||||||||||||||||||||||||||||
Schedule Of Related Party Transactions, Short Term Loans Related Parties [Table Text Block] | ' | ' | |||||||||||||||||||||||||||||||||
f. | Short-term loans - related parties: | Short-term loans - related parties: | |||||||||||||||||||||||||||||||||
Name of related | Relationship | September 30, | June 30, | March 31, | December 31, | Name of related | Relationship | December 31, | December 31, | December 31, | December 31, | ||||||||||||||||||||||||
parties | 3013 | 2013 | 2013 | 2012 | parties | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||
Shaanxi Steel | Majority shareholder of Long Steel Group | $ | - | $ | - | $ | 24,829 | $ | 35,839 | Shaanxi Steel | Majority shareholder of Long Steel Group | $ | 49,110 | $ | 35,839 | $ | - | $ | 14,548 | ||||||||||||||||
Shaanxi Coal and Chemical Industry Group Co., Ltd | Shareholder of Shaanxi Steel | 33,580 | 42,836 | 56,977 | - | Shaanxi Coal and Chemical Industry Group Co., Ltd | Shareholder of Shaanxi Steel | 28,216 | - | - | - | ||||||||||||||||||||||||
Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | 1,547 | 1,538 | 15,960 | - | Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | 33,183 | - | - | - | ||||||||||||||||||||||||
Tianjin Hengying Trading Co., Ltd | Partially owned by CEO through indirect shareholding | 10,916 | 10,849 | 3,837 | 19,549 | Tianjin Hengying Trading Co., Ltd | Partially owned by CEO through indirect shareholding | 8,178 | 19,549 | 15,710 | - | ||||||||||||||||||||||||
Tianjin Dazhan Industry Co., Ltd | Partially owned by CEO through indirect shareholding | - | 23,923 | - | 21,397 | Tianjin Dazhan Industry Co., Ltd | Partially owned by CEO through indirect shareholding | 6,548 | 21,397 | - | - | ||||||||||||||||||||||||
Beijing Shenhua Xinyuan Metal Materials Co., Ltd | Partially owned by CEO through indirect shareholding | 1,395 | 1,387 | 1,366 | 1,359 | Beijing Shenhua Xinyuan Metal Materials Co., Ltd | Partially owned by CEO through indirect shareholding | - | 1,359 | - | - | ||||||||||||||||||||||||
Yangpu Capital Automobile | Partially owned by CEO through indirect shareholding | 1,451 | 1,442 | 1,421 | 1,413 | Yangpu Capital Automobile | Partially owned by CEO through indirect shareholding | 1,458 | 1,413 | - | - | ||||||||||||||||||||||||
Total | $ | 48,889 | $ | 81,975 | $ | 104,390 | $ | 79,557 | Total | $ | 126,693 | $ | 79,557 | $ | 15,710 | $ | 14,548 | ||||||||||||||||||
Name of related | Relationship | September 30, | June 30, | March 31, | December 31, | ||||||||||||||||||||||||||||||
parties | 2012 | 2012 | 2012 | 2011 | |||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||
Shaanxi Steel | Majority shareholder of Long Steel Group | $ | 45,505 | $ | 15,892 | $ | 15,842 | $ | - | ||||||||||||||||||||||||||
Tianjin Hengying Trading Co., Ltd | Partially owned by CEO through indirect shareholding | 24,828 | 11,880 | 39,710 | 15,710 | ||||||||||||||||||||||||||||||
Tianjin Dazhan Industry Co., Ltd | Partially owned by CEO through indirect shareholding | 8,972 | 50,984 | 24,674 | - | ||||||||||||||||||||||||||||||
Beijing Shenhua Xinyuan Metal Materials Co., Ltd | Partially owned by CEO through indirect shareholding | 1,355 | 1,357 | 1,356 | - | ||||||||||||||||||||||||||||||
Yangpu Capital Automobile | Partially owned by CEO through indirect shareholding | 1,409 | 1,411 | 1,410 | - | ||||||||||||||||||||||||||||||
Total | $ | 82,069 | $ | 81,524 | $ | 82,992 | $ | 15,710 | |||||||||||||||||||||||||||
Name of related | Relationship | September 30, | June 30, | December 31, | |||||||||||||||||||||||||||||||
parties | 2011 | 2011 | 2010 | ||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||||||||||||||
Shaanxi Steel | Majority shareholder of Long Steel Group | $ | - | $ | - | $ | 14,548 | ||||||||||||||||||||||||||||
Tianjin Hengying Trading Co., Ltd | Partially owned by CEO through indirect shareholding | 15,650 | 15,470 | ||||||||||||||||||||||||||||||||
Shaanxi Hong Guang Steel Logistic Co., Ltd | Subsidiary of Long Steel Group | - | 167 | - | |||||||||||||||||||||||||||||||
Total | $ | 15,650 | $ | 15,637 | $ | 14,548 | |||||||||||||||||||||||||||||
Schedule Of Related Party Transactions Current Maturities Of Long Term Loans Related Parties [Table Text Block] | ' | ' | |||||||||||||||||||||||||||||||||
g. | Current maturities of long-term loans – related parties | Current maturities of long-term loans – related parties | |||||||||||||||||||||||||||||||||
Name of | Relationship | September 30, | June 30, | March 31, | December 31, | Name of | Relationship | December 31, | December 31, | December 31, | December 31, | ||||||||||||||||||||||||
related party | 3013 | 2013 | 2013 | 2012 | related party | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||
Shaanxi Steel | Majority shareholder of Long Steel Group | $ | 47,896 | $ | 48,014 | $ | 59,984 | $ | 54,885 | Shaanxi Steel | Majority shareholder of Long Steel Group | $ | 53,013 | $ | 54,885 | $ | - | $ | - | ||||||||||||||||
Total | $ | 47,896 | $ | 48,014 | $ | 59,984 | $ | 54,885 | Total | $ | 53,013 | $ | 54,885 | $ | - | $ | - | ||||||||||||||||||
Name of related | Relationship | September | June 30, | March 31, | December 31, | ||||||||||||||||||||||||||||||
party | 30, 2012 | 2012 | 2012 | 2011 | |||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||
Shaanxi Steel | Majority shareholder of Long Steel Group | $ | 49,997 | $ | - | $ | - | $ | - | ||||||||||||||||||||||||||
Total | $ | 49,997 | $ | - | $ | - | $ | - | |||||||||||||||||||||||||||
Schedule Of Related Party Transactions, Other Payable Related Parties [Table Text Block] | ' | ' | |||||||||||||||||||||||||||||||||
Other payables – related parties: | Other payables – related parties: | ||||||||||||||||||||||||||||||||||
Other payables – related parties are those nontrade payables arising from transactions between the Company and its related parties, such as advances or payments from these related parties on behalf of the Group. | Other payables – related parties are those nontrade payables arising from transactions between the Company and its related parties, such as advances or payments from these related parties on behalf of the Group. | ||||||||||||||||||||||||||||||||||
Name of | Relationship | September 30, | June 30, 2013 | March 31, | December 31, | Name of | Relationship | December 31, | December 31, | December 31, | December 31, | ||||||||||||||||||||||||
related parties | 3013 | 2013 | 2012 | related parties | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||
Tianjin Hengying Trading Co, Ltd | Partially owned by CEO through indirect shareholding | $ | 876 | $ | 871 | $ | 858 | $ | 2,770 | Tianjin Hengying Trading Co, Ltd | Partially owned by CEO through indirect shareholding | $ | 380 | $ | 2,770 | $ | - | $ | 10,168 | ||||||||||||||||
Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | 51,919 | 46,401 | 61,899 | 60,180 | Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | 43,636 | 60,180 | 20,001 | - | ||||||||||||||||||||||||
Shaanxi Steel | Majority shareholder of Long Steel Group | 44,173 | 43,902 | - | Shaanxi Steel | Majority shareholder of Long Steel Group | 44,363 | - | - | - | |||||||||||||||||||||||||
Wendlar Investment & Management Group Co., Ltd | Common control under CEO | 911 | 887 | 848 | 836 | Wendlar Investment & Management Group Co., Ltd | Common control under CEO | 895 | 836 | 241 | - | ||||||||||||||||||||||||
Yangpu Capital Automobile | Partially owned by CEO through indirect shareholding | 254 | 216 | 178 | 141 | Yangpu Capital Automobile | Partially owned by CEO through indirect shareholding | 291 | 141 | 1,398 | 1,350 | ||||||||||||||||||||||||
Xi’an Pinghe Metallurgical Raw Material Co., Ltd | Noncontrolling shareholder of Long Steel Group | - | - | 4,788 | 4,761 | Tianjin Daqiuzhuang Steel Plates Co., Ltd. | Partially owned by CEO through indirect shareholding | - | - | 5,771 | - | ||||||||||||||||||||||||
Tianjin Dazhan Industry Co., Ltd | Partially owned by CEO through indirect shareholding | 4,020 | 5,609 | 4,554 | 3,695 | Tianjin General Qiugang Pipe Co., Ltd | Partially owned by CEO through indirect shareholding | - | - | - | 4,547 | ||||||||||||||||||||||||
Maoming Shengze Trading Co., Ltd | Partially owned by CEO through indirect shareholding | 1,566 | 1,014 | 1,021 | - | Tianjin Hengying Trading Co., Ltd | Partially owned by CEO through indirect shareholding | - | - | 1,040 | - | ||||||||||||||||||||||||
Victory Energy Resource Co., Ltd | Partially owned by CEO through indirect shareholding | 1,375 | 835 | 7,335 | - | Xi’an Pinghe Metallurgical Raw Material Co., Ltd | Noncontrolling shareholder of Long Steel Group | - | 4,761 | - | - | ||||||||||||||||||||||||
Others | Entities either owned or have significant influence by our affiliates or management | 1,059 | 1,532 | 751 | 642 | Wenchun Han | Director of General Steel (China) | - | - | - | 2,124 | ||||||||||||||||||||||||
Total | $ | 106,153 | $ | 101,267 | $ | 82,232 | $ | 73,025 | Tianjin Dazhan Industry Co., Ltd | Partially owned by CEO through indirect shareholding | 473 | 3,695 | - | - | |||||||||||||||||||||
Maoming Shengze Trading Co., Ltd | Partially owned by CEO through indirect shareholding | 1,745 | - | - | - | ||||||||||||||||||||||||||||||
Name of related parties | Relationship | September 30, | June 30, | March 31, | December 31, | Victory Energy Resource Co., Ltd | Partially owned by CEO through indirect shareholding | 1,375 | - | - | - | ||||||||||||||||||||||||
2012 | 2012 | 2012 | 2011 | Others | Entities either owned or have significant influence by our affiliates or management | 921 | 642 | 422 | 25 | ||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | Total | $ | 94,079 | $ | 73,025 | $ | 28,873 | $ | 18,214 | |||||||||||||||||||||||
Tianjin Hengying Trading Co, Ltd | Partially owned by CEO through indirect shareholding | $ | 2,176 | $ | 1,813 | $ | 939 | $ | 1,040 | ||||||||||||||||||||||||||
Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | 71,392 | 86,998 | 85,052 | 20,001 | ||||||||||||||||||||||||||||||
Shaanxi Steel | Majority shareholder of Long Steel Group | 13,445 | - | - | - | ||||||||||||||||||||||||||||||
Wendlar Investment & Management Group Co., Ltd | Common control under CEO | 361 | 343 | 263 | 241 | ||||||||||||||||||||||||||||||
Yangpu Capital Automobile | Partially owned by CEO through indirect shareholding | 106 | 71 | - | 1,398 | ||||||||||||||||||||||||||||||
Tianjin Daqiuzhuang Steel Plates Co., Ltd. | Partially owned by CEO through indirect shareholding | - | 744 | - | 5,771 | ||||||||||||||||||||||||||||||
Sichuan Yutai Trading Co., Ltd | Significant influence by Long Steel Group | 20,565 | 33,106 | - | - | ||||||||||||||||||||||||||||||
Tianjin Dazhan Industry Co., Ltd | Partially owned by CEO through indirect shareholding | 3,198 | 2,481 | - | - | ||||||||||||||||||||||||||||||
Victory Energy Resource Co., Ltd | Partially owned by CEO through indirect shareholding | 7,240 | 7,320 | 7,320 | - | ||||||||||||||||||||||||||||||
Others | Entities either owned or have significant influence by our affiliates or management | 102 | 72 | 1,458 | 422 | ||||||||||||||||||||||||||||||
Total | $ | 118,585 | $ | 132,948 | $ | 95,032 | $ | 28,873 | |||||||||||||||||||||||||||
Name of related parties | Relationship | September 30, | June 30, 2011 | December 31, 2010 | |||||||||||||||||||||||||||||||
2011 | |||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||||||||||||||
Tianjin Hengying Trading Co, Ltd | Partially owned by CEO through indirect shareholding | $ | 7,360 | $ | 7,275 | $ | 10,168 | ||||||||||||||||||||||||||||
Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | 5,299 | 2,041 | - | |||||||||||||||||||||||||||||||
Long Steel Comprehensive Service Co.,Ltd. | Owned by Long Steel Group | 397 | 7,327 | - | |||||||||||||||||||||||||||||||
Yangpu Capital Automobile | Partially owned by CEO through indirect shareholding | 1,393 | 1,377 | 1,350 | |||||||||||||||||||||||||||||||
Tianjin General Qiugang Pipe Co., Ltd | Partially owned by CEO through indirect shareholding | - | - | 4,547 | |||||||||||||||||||||||||||||||
Wenchun Han | Director of General Steel (China) | - | - | 2,124 | |||||||||||||||||||||||||||||||
Others | Entities either owned or have significant influence by our affiliates or management | 456 | 196 | 25 | |||||||||||||||||||||||||||||||
Total | $ | 14,905 | $ | 18,216 | $ | 18,214 | |||||||||||||||||||||||||||||
Schedule Of Related Party Transactions, Customer Deposits Related Parties [Table Text Block] | ' | ' | |||||||||||||||||||||||||||||||||
i. | Customer deposits – related parties: | Customer deposits – related parties: | |||||||||||||||||||||||||||||||||
Name of related | Relationship | September 30, | June 30, | March 31, | December 31, | Name of related | Relationship | December 31, | December 31, | December 31, | December 31, | ||||||||||||||||||||||||
parties | 3013 | 2013 | 2013 | 2012 | parties | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||
Shaanxi Yuchang Trading Co., Ltd | Significant influence by Long Steel Group | $ | 10 | $ | 1,181 | $ | 1,401 | $ | 4,869 | Hancheng Haiyan Coking Co., Ltd | Noncontrolling shareholder of Long Steel Group | $ | - | $ | - | $ | - | $ | 5,081 | ||||||||||||||||
Sichuan Yutai Trading Co., Ltd | Significant influence by Long Steel Group | - | - | 1,708 | 2,163 | Shaanxi Yuchang Trading Co., Ltd | Significant influence by Long Steel Group | 10 | 4,869 | 24,256 | - | ||||||||||||||||||||||||
Tianjin Hengying Trading Co, Ltd | Partially owned by CEO through indirect shareholding | - | - | - | 90 | Sichuan Yutai Trading Co., Ltd | Significant influence by Long Steel Group | - | 2,163 | 5,972 | - | ||||||||||||||||||||||||
Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | 13,600 | 5,380 | 4,406 | 8,864 | Tianjin Hengying Trading Co, Ltd | Partially owned by CEO through indirect shareholding | - | 90 | 1,506 | - | ||||||||||||||||||||||||
Shaanxi Junlong Rolling Co., Ltd | Investee of Long Steel Group | 679 | 672 | 4,611 | 5,615 | Tianjin General Qiugang Pipe Co., Ltd | Partially owned by CEO through indirect shareholding | - | - | 9,102 | - | ||||||||||||||||||||||||
Shaanxi Shenganda Trading Co., Ltd | Significant influence by Long Steel Group | - | - | - | 353 | Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | 15,038 | 8,864 | 4,755 | 48,161 | ||||||||||||||||||||||||
Others | Entities either owned or have significant influence by our affiliates or management | 223 | 565 | 523 | 44 | Beijing Shenhua Xinyuan Metal Materials Co., Ltd | Partially owned by CEO through indirect shareholding | - | - | 1,345 | 1,299 | ||||||||||||||||||||||||
Total | $ | 14,512 | $ | 7,798 | $ | 12,649 | $ | 21,998 | Shaanxi Haiyan Trade Co., Ltd | Significant influence by Long Steel Group | - | - | 6,822 | - | |||||||||||||||||||||
Shaanxi Junlong Rolling Co., Ltd | Investee of Long Steel Group | 2,748 | 5,615 | 1,540 | - | ||||||||||||||||||||||||||||||
Name of related | Relationship | September 30, | June 30, | March 31, | December 31, | Tianjin Dazhan Industry Co., Ltd | Partially owned by CEO through indirect shareholding | - | - | 11,178 | - | ||||||||||||||||||||||||
parties | 2012 | 2012 | 2012 | 2011 | Shaanxi Shenganda Trading Co., Ltd | Significant influence by Long Steel Group | 275 | 353 | 1,750 | - | |||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | Tianwu General Steel Material Trading Co., Ltd. | Investee of General Steel (China) | 46,521 | - | - | - | ||||||||||||||||||||||||||
Shaanxi Yuchang Trading Co., Ltd | Significant influence by Long Steel Group | $ | 2,845 | $ | 3,813 | $ | 13,205 | $ | 24,256 | Others | Entities either owned or have significant influence by our affiliates or management | 289 | 44 | 51 | 381 | ||||||||||||||||||||
Sichuan Yutai Trading Co., Ltd | Significant influence by Long Steel Group | 3,462 | - | 10,738 | 5,972 | Total | $ | 64,881 | $ | 21,998 | $ | 68,277 | $ | 54,922 | |||||||||||||||||||||
Tianjin Hengying Trading Co, Ltd | Partially owned by CEO through indirect shareholding | 12,668 | - | 20,592 | 1,506 | ||||||||||||||||||||||||||||||
Tianjin General Qiugang Pipe Co., Ltd | Partially owned by CEO through indirect shareholding | 1,157 | - | - | 9,102 | ||||||||||||||||||||||||||||||
Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | 10,372 | 22,516 | 1,713 | 4,755 | ||||||||||||||||||||||||||||||
Shaanxi Coal Sourcing Co., Ltd | Shareholder of Longmen Joint Venture | 13,663 | - | - | - | ||||||||||||||||||||||||||||||
Beijing Shenhua Xinyuan Metal Materials Co., Ltd | Partially owned by CEO through indirect shareholding | - | - | - | 1,345 | ||||||||||||||||||||||||||||||
Shaanxi Haiyan Trade Co.,Ltd | Significant influence by Long Steel Group | 4,576 | 6,985 | 5,911 | 6,822 | ||||||||||||||||||||||||||||||
Shaanxi Junlong Rolling Co., Ltd | Investee of Long Steel Group | 3,283 | 5,770 | 2,026 | 1,540 | ||||||||||||||||||||||||||||||
Tianjin Dazhan Industry Co., Ltd | Partially owned by CEO through indirect shareholding | 17,844 | - | 3,169 | 11,178 | ||||||||||||||||||||||||||||||
Shaanxi Shenganda Trading Co., Ltd | Significant influence by Long Steel Group | 13,160 | - | - | 1,750 | ||||||||||||||||||||||||||||||
Others | Entities either owned or have significant influence by our affiliates or management | 488 | 50 | 49 | 51 | ||||||||||||||||||||||||||||||
Total | $ | 83,518 | $ | 39,134 | $ | 57,403 | $ | 68,277 | |||||||||||||||||||||||||||
Name of related parties | Relationship | September 30, | June 30, 2011 | December 31, | |||||||||||||||||||||||||||||||
2011 | 2010 | ||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||||||||||||||
Hancheng Haiyan Coking Co., Ltd | Noncontrolling shareholder of Long SteelGroup | $ | 7,965 | $ | 5,741 | $ | 5,081 | ||||||||||||||||||||||||||||
Shaanxi Yuchang Trading Co., Ltd | Significant influence by Long Steel Group | 23,256 | 31,768 | - | |||||||||||||||||||||||||||||||
Sichuan Yutai Trading Co., Ltd | Significant influence by Long Steel Group | 9,321 | 89 | - | |||||||||||||||||||||||||||||||
Tianjin Hengying Trading Co, Ltd | Partially owned by CEO through indirect shareholding | 6,384 | 4,902 | - | |||||||||||||||||||||||||||||||
Tianjin General Qiugang Pipe Co., Ltd | Partially owned by CEO through indirect shareholding | 23 | 2,700 | - | |||||||||||||||||||||||||||||||
Long Steel Group | Noncontrolling shareholder of Longmen Joint Venture | 171 | 1,149 | 48,161 | |||||||||||||||||||||||||||||||
Beijing Shenhua Xinyuan Metal Materials Co., Ltd | Partially owned by CEO through indirect shareholding | - | 1,324 | 1,299 | |||||||||||||||||||||||||||||||
Shaanxi Steel | Majority shareholder of Long Steel Group | 2,377 | - | - | |||||||||||||||||||||||||||||||
Shaanxi Junlong Rolling Co., Ltd | Investee of Long Steel Group | 2,775 | 2,748 | - | |||||||||||||||||||||||||||||||
Tianjin Dazhan Industry Co., Ltd | Partially owned by CEO through indirect shareholding | 2,113 | - | - | |||||||||||||||||||||||||||||||
Shaanxi Shenganda Trading Co., Ltd | Significant influence by Long Steel Group | - | 15,337 | - | |||||||||||||||||||||||||||||||
Others | Entities either owned or have significant influence by our affiliates or management | - | 48 | 381 | |||||||||||||||||||||||||||||||
Total | $ | 54,385 | $ | 65,806 | $ | 54,922 | |||||||||||||||||||||||||||||
Schedule Of Related Party Transactions, Deposits Due To Sales Representatives [Table Text Block] | ' | ' | |||||||||||||||||||||||||||||||||
j. | Deposits due to sales representatives – related parties | j. | Deposits due to sales representatives – related parties | ||||||||||||||||||||||||||||||||
Name of related | Relationship | September 30, | June 30, | March 31, | December 31, | Name of | Relationship | December 31, | December 31, | December 31, | December 31, | ||||||||||||||||||||||||
parties | 3013 | 2013 | 2013 | 2012 | related parties | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||
Hancheng Haiyan Coking Co., Ltd | Noncontrolling shareholder of Long Steel Group | $ | 587 | $ | 583 | $ | 575 | $ | 619 | Hancheng Haiyan Coking Co., Ltd | Noncontrolling shareholder of Long Steel Group | $ | - | $ | 619 | $ | 471 | $ | 455 | ||||||||||||||||
Shaanxi Junlong Rolling Co., Ltd | Investee of Long Steel Group | 635 | 632 | 622 | 619 | Shaanxi Junlong Rolling Co., Ltd | Investee of Long Steel Group | - | 619 | 472 | - | ||||||||||||||||||||||||
Shaanxi Yuchang Trading Co., Ltd | Significant influence by Long Steel Group | 587 | 583 | 575 | - | Gansu Yulong Trading Co., Ltd. | Significant influence by Long Steel Group | 1,408 | - | - | - | ||||||||||||||||||||||||
Total | $ | 1,809 | $ | 1,798 | $ | 1,772 | $ | 1,238 | Shaanxi Yuchang Trading Co., Ltd | Significant influence by Long Steel Group | 589 | - | - | - | |||||||||||||||||||||
Total | $ | 1,997 | $ | 1,238 | $ | 943 | $ | 455 | |||||||||||||||||||||||||||
Name of related | Relationship | September 30, | June 30, | March 31, | December 31, | ||||||||||||||||||||||||||||||
parties | 2012 | 2012 | 2012 | 2011 | |||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||
Hancheng Haiyan Coking Co., Ltd | Noncontrolling shareholder of Long Steel Group | $ | 617 | $ | 618 | $ | 618 | $ | 471 | ||||||||||||||||||||||||||
Shaanxi Junlong Rolling Co., Ltd | Investee of Long Steel Group | 618 | 618 | 618 | 472 | ||||||||||||||||||||||||||||||
Total | $ | 1,235 | $ | 1,236 | $ | 1,236 | $ | 943 | |||||||||||||||||||||||||||
Schedule Of Related Party Transactions, Long Term Loans Related Parties [Table Text Block] | ' | ' | |||||||||||||||||||||||||||||||||
Long-term loans – related party: | Long-term loans – related party: | ||||||||||||||||||||||||||||||||||
Name of related | Relationship | September 30, | June 30, | March 31, | December 31, | Name of | Relationship | December 31, | December 31, | December 31, | December 31, | ||||||||||||||||||||||||
party | 3013 | 2013 | 2013 | 2012 | related party | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||
Shaanxi Steel | Majority shareholder of Long Steel Group | $ | 24,450 | $ | 29,160 | $ | 33,516 | $ | 38,088 | Shaanxi Steel | Majority shareholder of Long Steel Group | $ | 19,644 | $ | 38,088 | $ | 92,035 | $ | 91,020 | ||||||||||||||||
Total | $ | 24,450 | $ | 29,160 | $ | 33,516 | $ | 38,088 | Total | $ | 19,644 | $ | 38,088 | $ | 92,035 | $ | 91,020 | ||||||||||||||||||
Name of related | Relationship | September 30, | June 30, | March 31, | December 31, | The Company also provided guarantee on related parties’ bank loans amounting to $205.8 million, $118.0 million, $56.6 million and $3.0 million as of December 31, 2013, 2012, 2011 and 2010, respectively. | |||||||||||||||||||||||||||||
party | 2012 | 2012 | 2012 | 2011 | |||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||
Shaanxi Steel | Majority shareholder of Long Steel Group | $ | 42,741 | $ | 92,856 | $ | 92,797 | $ | 92,035 | ||||||||||||||||||||||||||
Total | $ | 42,741 | $ | 92,856 | $ | 92,797 | $ | 92,035 | |||||||||||||||||||||||||||
Name of related | Relationship | September 30, | June 30, 2011 | December 31, | |||||||||||||||||||||||||||||||
party | 2011 | 2010 | |||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||||||||||||||
Shaanxi Steel | Majority shareholder of Long Steel Group | $ | 107,695 | $ | 134,566 | $ | 91,020 | ||||||||||||||||||||||||||||
Total | $ | 107,695 | $ | 134,566 | $ | 91,020 | |||||||||||||||||||||||||||||
Schedule Of Related Party Transactions Long Term Other Payable [Table Text Block] | ' | ' | |||||||||||||||||||||||||||||||||
Long-term other payable – related party: | Long-term other payable – related party: | ||||||||||||||||||||||||||||||||||
Long-term other payable – related party is a nontrade payable arising from a transaction between the Company and its related party, Shaanxi Steel, in which the Company received an advance from Shaanxi Steel to make payment to a third party for a construction project. | Long-term other payable – related party is a nontrade payable arising from a transaction between the Company and its related party, Shaanxi Steel, in which the Company received an advance from Shaanxi Steel to make payment to a third party for a construction project. | ||||||||||||||||||||||||||||||||||
Name of related | Relationship | September 30, | June 30, 2013 | March 31, | December 31, | Name of | Relationship | December 31, | December 31, | December 31, | December 31, | ||||||||||||||||||||||||
party | 3013 | 2013 | 2012 | related party | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||
Shaanxi Steel | Majority shareholder of Long Steel Group | $ | - | $ | - | $ | 43,252 | $ | 43,008 | Shaanxi Steel | Majority shareholder of Long Steel Group | $ | - | $ | 43,008 | $ | - | $ | - | ||||||||||||||||
Total | $ | - | $ | - | $ | 43,252 | $ | 43,008 | Total | $ | - | $ | 43,008 | $ | - | $ | - | ||||||||||||||||||
Schedule Of Related Party Transactions, Deferred Lease Income [Table Text Block] | ' | ' | |||||||||||||||||||||||||||||||||
Deferred lease income | Deferred lease income | ||||||||||||||||||||||||||||||||||
September 30, | June 30, | March 31, | December 31, | December 31, | December 31, | December 31, | December 31, | ||||||||||||||||||||||||||||
2013 | 2013 | 2013 | 2012 | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||
Beginning balance | $ | 77,199 | $ | 77,199 | $ | 77,199 | $ | 78,524 | Beginning balance | $ | 77,199 | $ | 78,524 | $ | 57,591 | $ | 16,487 | ||||||||||||||||||
Less: Lease income realized | -1,613 | -1,071 | -532 | -2,119 | Add: Reimbursement for dismantled assets | - | - | - | 568 | ||||||||||||||||||||||||||
Exchange rate effect | 2,072 | 1,594 | 436 | 794 | Add: Reimbursement for loss of efficiency | - | - | - | 20,676 | ||||||||||||||||||||||||||
Ending balance | 77,658 | 77,722 | 77,103 | 77,199 | Add: Reimbursement for trial production costs | - | - | 14,042 | 13,584 | ||||||||||||||||||||||||||
Current portion | -2,178 | -2,164 | -2,132 | -2,120 | Add: Deferred depreciation cost during free use period | - | - | 6,904 | 6,656 | ||||||||||||||||||||||||||
Noncurrent portion | $ | 75,480 | $ | 75,558 | $ | 74,971 | $ | 75,079 | Less: Lease income realized | -2,158 | -2,119 | -2,008 | -943 | ||||||||||||||||||||||
Exchange rate effect | 2,403 | 794 | 1,995 | 563 | |||||||||||||||||||||||||||||||
September 30, | June 30, | March 31, | December 31, | Ending balance | 77,444 | 77,199 | 78,524 | 57,591 | |||||||||||||||||||||||||||
2012 | 2012 | 2012 | 2011 | Current portion | -2,187 | -2,120 | -2,099 | -1,971 | |||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | Noncurrent portion | $ | 75,257 | $ | 75,079 | $ | 76,425 | $ | 55,620 | |||||||||||||||||||||||
Beginning balance | $ | 78,524 | $ | 78,524 | $ | 78,524 | $ | 57,591 | |||||||||||||||||||||||||||
Add: Reimbursement for trial production costs | - | - | - | 14,042 | |||||||||||||||||||||||||||||||
Add: Deferred depreciation cost during free use period | - | - | - | 6,904 | |||||||||||||||||||||||||||||||
Less: Lease income realized | -1,588 | -1,060 | -530 | -2,008 | |||||||||||||||||||||||||||||||
Exchange rate effect | 597 | 696 | 646 | 1,995 | |||||||||||||||||||||||||||||||
Ending balance | 77,533 | 78,160 | 78,640 | 78,524 | |||||||||||||||||||||||||||||||
Current portion | -2,115 | -2,117 | -2,116 | -2,099 | |||||||||||||||||||||||||||||||
Noncurrent portion | $ | 75,418 | $ | 76,043 | $ | 76,524 | $ | 76,425 | |||||||||||||||||||||||||||
September 30, 2011 | June 30, 2011 | December 31, 2010 | |||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | |||||||||||||||||||||||||||||||||
Beginning balance | $ | 57,591 | $ | 57,591 | $ | 16,487 | |||||||||||||||||||||||||||||
Add: Reimbursement for dismantled assets | - | - | 568 | ||||||||||||||||||||||||||||||||
Add: Reimbursement for loss of efficiency | - | - | 20,676 | ||||||||||||||||||||||||||||||||
Add: Reimbursement for trial production costs | 13,988 | 14,096 | 13,584 | ||||||||||||||||||||||||||||||||
Add: Deferred depreciation cost during free use period | 6,878 | 6,799 | 6,656 | ||||||||||||||||||||||||||||||||
Less: Lease income realized | -1,489 | -964 | -943 | ||||||||||||||||||||||||||||||||
Exchange rate effect | 1,481 | 827 | 563 | ||||||||||||||||||||||||||||||||
Ending balance | 78,449 | 78,349 | 57,591 | ||||||||||||||||||||||||||||||||
Current portion | -2,091 | -2,067 | -1,971 | ||||||||||||||||||||||||||||||||
Noncurrent portion | $ | 76,358 | $ | 76,282 | $ | 55,620 | |||||||||||||||||||||||||||||
Shaanxi Coal and Shaanxi Steel [Member] | ' | ' | |||||||||||||||||||||||||||||||||
Schedule of Capital Leased Assets [Table Text Block] | ' | ' | |||||||||||||||||||||||||||||||||
The following is an analysis of the leased assets under the capital lease: | |||||||||||||||||||||||||||||||||||
December 31, | December 31, | December 31, | December 31, | ||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | 2010 | ||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||
Machinery | $ | 605,839 | $ | 587,334 | $ | 581,413 | $ | - | |||||||||||||||||||||||||||
Less: accumulated depreciation | -76,740 | -46,497 | -18,411 | - | |||||||||||||||||||||||||||||||
Carrying value of leased assets | $ | 529,099 | $ | 540,837 | $ | 563,002 | $ | - | |||||||||||||||||||||||||||
Equity_Tables
Equity (Tables) | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2013 | |||||||||||||||||||||
Equity [Abstract] | ' | ' | ||||||||||||||||||||
Schedule Of Non Controlling Interests By Legal Entity [Table Text Block] | ' | ' | ||||||||||||||||||||
The following is a reconciliation of Tongxing’s noncontrolling interest for the nine months ended September 30, 2012: | The following is a reconciliation of the Company’s noncontrolling interest for the year ended December 31, 2012: | |||||||||||||||||||||
(in thousands) | Noncontrolling interest | (in thousands) | Noncontrolling interest | |||||||||||||||||||
Total | Tongxing | Others | Total | Tongxing | Others | |||||||||||||||||
Balance at December 31, 2011 | $ | -56,189 | $ | 32,934 | $ | -89,123 | Balance at December 31, 2011 | $ | -56,189 | $ | 32,934 | $ | -89,123 | |||||||||
Net income (loss) attributable to noncontrolling interest | -61,336 | 341 | -61,677 | Net income (loss) attributable to noncontrolling interest | -79,241 | 341 | -79,582 | |||||||||||||||
Addition to special reserve | 351 | - | 351 | Addition to special reserve | 605 | - | 605 | |||||||||||||||
Usage of special reserve | -350 | - | -350 | Usage of special reserve | -566 | - | -566 | |||||||||||||||
Deconsolidation of Tongxing | -35,943 | -33,654 | -2,289 | Deconsolidation of Tongxing | -35,943 | -33,654 | -2,289 | |||||||||||||||
Foreign currency translation adjustments | -385 | 379 | -764 | Foreign currency translation adjustments | -729 | 379 | -1,108 | |||||||||||||||
Balance at September 30, 2012 | $ | -153,852 | $ | - | $ | -153,852 | Balance at December 31, 2012 | $ | -172,063 | $ | - | $ | -172,063 | |||||||||
The following is a reconciliation of the Company’s noncontrolling interest for the year ended December 31, 2013: | ||||||||||||||||||||||
(in thousands) | Noncontrolling interest | |||||||||||||||||||||
Total | Tianwu | Others | ||||||||||||||||||||
Balance at December 31, 2012 | $ | -172,063 | $ | 1,339 | $ | -173,402 | ||||||||||||||||
Net income (loss) attributable to noncontrolling interest | -9,609 | 2 | -9,611 | |||||||||||||||||||
Addition to special reserve | 553 | - | 553 | |||||||||||||||||||
Usage of special reserve | -393 | - | -393 | |||||||||||||||||||
Addition to Tianwu paid-in capital | 18,028 | 18,028 | - | |||||||||||||||||||
Deconsolidation of a subsidiary | -19,929 | -19,929 | - | |||||||||||||||||||
Foreign currency translation adjustments | -5,498 | 560 | -6,058 | |||||||||||||||||||
Balance at December 31, 2013 | $ | -188,911 | $ | - | $ | -188,911 | ||||||||||||||||
Commitment_and_contingencies_T
Commitment and contingencies (Tables) | 9 Months Ended | 12 Months Ended | ||||||||||||
Sep. 30, 2013 | Dec. 31, 2013 | |||||||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | ' | ||||||||||||
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | ' | ' | ||||||||||||
Total operating lease commitments for rental of offices, buildings, equipment and land use rights of the Company’s PRC subsidiaries as of September 30, 2013 is as follows: | Total operating lease commitments for rental of offices, buildings, equipment and land use rights of the Company’s PRC subsidiaries as of December 31, 2013 is as follows: | |||||||||||||
Year ending September 30, | Minimum lease payment | Year ending December 31, | Minimum lease | |||||||||||
(in thousands) | payment | |||||||||||||
(Unaudited) | (in thousands) | |||||||||||||
2014 | $ | 1,445 | 2014 | $ | 1,450 | |||||||||
2015 | 680 | 2015 | 683 | |||||||||||
2016 | 559 | 2016 | 562 | |||||||||||
2017 | 559 | 2017 | 562 | |||||||||||
2018 | 559 | 2018 | 562 | |||||||||||
Years after | 20,185 | Years after | 19,955 | |||||||||||
Total minimum payments required | $ | 23,987 | Total minimum payments required | $ | 23,774 | |||||||||
Schedule of Guarantor Obligations [Table Text Block] | ' | ' | ||||||||||||
As of September 30, 2013, Longmen Joint Venture provided guarantees to related parties’ and third parties’ bank loans, including lines of credit and others, amounting to $304.6 million. | As of December 31, 2013, Longmen Joint Venture provided guarantees to related parties’ and third parties’ bank loans, including lines of credit and others, amounting to $326.8 million. | |||||||||||||
Nature of guarantee | Guarantee | Guaranty Due Date | Nature of guarantee | Guarantee | Guaranty Due Date | |||||||||
amount | amount | |||||||||||||
(In thousands) | (In thousands) | |||||||||||||
Line of credit | $ | 178,931 | Various from October 2013 to August 2015 | Line of credit | $ | 226,618 | Various from January 2014 to August 2015 | |||||||
Three-party financing agreements | 42,315 | Various from October 2013 to January 2014 | Three-party financing agreements | 13,096 | Various from January to July 2014 | |||||||||
Confirming storage | 19,951 | Various from December 2013 to September 2014 | Confirming storage | 41,252 | Various from March to December 2014 | |||||||||
Financing by the rights of goods delivery in future | 63,374 | Various from December 2013 to March 2015 | Financing by the rights of goods delivery in future | 45,836 | Various from April to October 2014 | |||||||||
Total | $ | 304,571 | Total | $ | 326,802 | |||||||||
Schedule Of Parties Being Guaranteed [Table Text Block] | ' | ' | ||||||||||||
Name of parties being guaranteed | Guarantee | Guaranty Due Date | Name of parties being guaranteed | Guarantee amount | Guaranty Due Date | |||||||||
amount | (In thousands) | |||||||||||||
(In thousands) | Long Steel Group | $ | 68,099 | Various from February 2014 to August 2015 | ||||||||||
Long Steel Group | $ | 74,819 | Various from October 2013 to August 2015 | Hancheng Haiyan Coking Co., Ltd | 46,818 | Various from January to December 2014 | ||||||||
Hancheng Haiyan Coking Co., Ltd | 42,315 | Various from October 2013 to January 2014 | Long Steel Group Fuping Rolling Steel Co., Ltd | 16,820 | Various from January to June 2014 | |||||||||
Long Steel Group Fuping Rolling Steel Co., Ltd | 11,271 | Various from January to June 2014 | Yichang Zhongyi Industrial Co., Ltd | 28,909 | Jun-14 | |||||||||
Yichang Zhongyi Industrial Co., Ltd | 25,428 | Jun-14 | Xi’an Laisheng Logistics Co., Ltd | 6,548 | May-14 | |||||||||
Xi’an Laisheng Logistics Co., Ltd | 4,303 | May-14 | Xi'an Kaiyuan Steel Sales Co., Ltd | 1,637 | Jan-14 | |||||||||
Xi'an Kaiyuan Steel Sales Co., Ltd | 3,733 | Various from November 2013 to January 2014 | Shaanxi Anlin Logistics Co., Ltd | 6,548 | Apr-14 | |||||||||
Shaanxi Hongan Material Co., Ltd. | 5,379 | Various from October to December 2013 | Shaanxi Huatai Huineng Group Co., Ltd | 24,555 | Mar-14 | |||||||||
Shaanxi Anlin Logistics Co., Ltd | 7,726 | Various from December 2013 to April 2014 | Hancheng Sanli Furnace Burden Co., Ltd. | 16,370 | Mar-15 | |||||||||
Chengdu Zhongyi Steel Co., Ltd | 3,977 | Dec-13 | Tianjin Dazhan Industry Co., Ltd | 45,018 | Various from January 2014 to March 2015 | |||||||||
Shaanxi Huatai Huineng Group Co., Ltd | 24,450 | Mar-14 | Tianjin Hengying Trading Co., Ltd | 40,925 | Various from January to October 2014 | |||||||||
Hancheng Sanli Furnace Burden Co., Ltd. | 16,300 | Mar-15 | Tianjin Qiu Steel Pipe Industry Co., Ltd | 4,911 | Apr-14 | |||||||||
Tianjin Dazhan Industry Co., Ltd | 44,238 | Various from January 2014 to March 2015 | Jinmen Desheng Metallurty Co., Ltd | 19,644 | Aug-14 | |||||||||
Tianjin Hengying Trading Co., Ltd | 19,637 | Various from January to July 2014 | Total | $ | 326,802 | |||||||||
Tianjin Qiu Steel Pipe Industry Co., Ltd | 11,410 | Apr-14 | ||||||||||||
Jinmen Desheng Metallurty Co., Ltd | 3,260 | Aug-14 | ||||||||||||
Shaanxi Baolong Industry Co., Ltd | 2,347 | Nov-13 | ||||||||||||
Shaanxi Longan Industrial Development Co., Ltd | 3,978 | Nov-13 | ||||||||||||
Total | $ | 304,571 | ||||||||||||
Segments_Tables
Segments (Tables) | 9 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2013 | ||||||||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | ' | |||||||||||||||||||||||||||||
Schedule of Segment Reporting Information, by Segment [Table Text Block] | ' | ' | |||||||||||||||||||||||||||||
The following represents results of division operations for three months ended September 30, 2013, 2012, 2011 and 2010: | |||||||||||||||||||||||||||||||
The following represents results of division operations for the years ended December 31, 2013, 2012, 2011 and 2010: | |||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||
Sales: | 2013 | 2012 | 2011 | 2010 | Sales: | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||||||
Longmen Joint Venture | $ | 606,444 | $ | 708,974 | $ | 986,938 | $ | 455,028 | Longmen Joint Venture | $ | 2,450,256 | $ | 2,837,608 | $ | 3,496,551 | $ | 1,846,080 | ||||||||||||||
Maoming Hengda | 252 | 1,134 | 3,938 | 1,960 | Maoming Hengda | 3,814 | 6,502 | 9,946 | 10,011 | ||||||||||||||||||||||
Baotou Steel Pipe Joint Venture | 2,921 | 1,322 | 3,436 | 3,267 | Baotou Steel Pipe Joint Venture | 5,585 | 6,760 | 8,036 | 12,315 | ||||||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | 4,236 | 129,341 | 91,727 | 15,994 | General Steel (China) & Tianwu Joint Venture | 58,630 | 161,613 | 267,543 | 68,918 | ||||||||||||||||||||||
Total sales | 613,853 | 840,771 | $ | 1,086,039 | $ | 476,249 | Total sales | 2,518,285 | 3,012,483 | 3,782,076 | 1,937,324 | ||||||||||||||||||||
Interdivision revenue | (3,758 | (129,346 | ) | (87,878 | ) | (15,972 | ) | Interdivision sales | -54,538 | -148,890 | -218,180 | -55,184 | |||||||||||||||||||
Consolidated sales | $ | 610,095 | $ | 711,425 | $ | 998,161 | $ | 460,277 | Consolidated sales | $ | 2,463,747 | $ | 2,863,593 | $ | 3,563,896 | $ | 1,882,140 | ||||||||||||||
Gross profit | 2013 | 2012 | 2011 | 2010 | Gross profit (loss): | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||||||
Longmen Joint Venture | $ | 8,122 | $ | (18,417 | ) | $ | 29,400 | $ | 14,304 | Longmen Joint Venture | $ | -56,065 | $ | 29,512 | $ | -86,308 | $ | 32,751 | |||||||||||||
Maoming Hengda | (57 | ) | (761 | ) | 31 | (828 | ) | Maoming Hengda | -130 | -1,350 | -392 | -2,726 | |||||||||||||||||||
Baotou Steel Pipe Joint Venture | 160 | 120 | 439 | 78 | Baotou Steel | 229 | 69 | 491 | 562 | ||||||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | 6 | 5,462 | 4,163 | 172 | General Steel (China) & Tianwu Joint Venture | 28 | 3,888 | -3,845 | 2,589 | ||||||||||||||||||||||
Total profit | 8,231 | (13,596 | ) | $ | 34,033 | $ | 13,726 | Total gross profit (loss) | -55,938 | 32,119 | -90,054 | 33,176 | |||||||||||||||||||
Interdivision gross profit | - | - | 17 | (137 | ) | Interdivision gross profit | - | - | 1,840 | -1,761 | |||||||||||||||||||||
Consolidated profit | $ | 8,231 | $ | (13,596 | ) | $ | 34,050 | $ | 13,589 | Consolidated gross profit (loss) | $ | -55,938 | $ | 32,119 | $ | -88,214 | $ | 31,415 | |||||||||||||
Income (loss) from operations: | 2013 | 2012 | 2011 | 2010 | Income (loss) from | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||||||
Longmen Joint Venture | $ | 30,306 | $ | (42,611 | ) | $ | 1,773 | $ | 6,734 | operations: | |||||||||||||||||||||
Maoming Hengda | (719 | ) | (1,062 | ) | (477 | ) | (1,075 | ) | Longmen Joint Venture | $ | 45,161 | $ | -68,081 | $ | -175,104 | $ | -8,073 | ||||||||||||||
Baotou Steel Pipe Joint Venture | 20 | 630 | 200 | (188 | ) | Maoming Hengda | -2,811 | -19,789 | -2,568 | -5,782 | |||||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | (695 | ) | 2,399 | 3,766 | (72 | ) | Baotou Steel | -407 | -7 | -2,516 | -862 | ||||||||||||||||||||
Total income (loss) from operations | 28,912 | (40,644 | ) | $ | 5,262 | $ | 5,399 | General Steel (China) & Tianwu Joint Venture | -2,971 | -2,539 | -10,902 | 1,133 | |||||||||||||||||||
Interdivision income from operations | - | - | 17 | - | Total income (loss) from operations | 38,972 | -90,416 | -191,090 | -13,584 | ||||||||||||||||||||||
Reconciling item (1) | (1,177 | ) | (1,350 | ) | (945 | ) | (1,370 | ) | Interdivision income (loss) from operations | - | - | 1,840 | -1,762 | ||||||||||||||||||
Consolidated income (loss) from operations | $ | 27,735 | $ | (41,994 | ) | $ | 4,334 | $ | 4,029 | Reconciling item (1) | -4,567 | -5,041 | -4,838 | -5,816 | |||||||||||||||||
Consolidated income (loss) from operations | $ | 34,405 | $ | -95,457 | $ | -194,088 | $ | -21,162 | |||||||||||||||||||||||
Net loss attributable to General Steel Holdings, Inc: | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||||||||||
Longmen Joint Venture | $ | 8,284 | $ | (39,494 | ) | $ | (14,766 | ) | $ | (1,351 | ) | Net income (loss) | 2013 | 2012 | 2011 | 2010 | |||||||||||||||
Maoming Hengda | (694 | (1,073 | ) | 2,573 | (1,076 | ) | attributable to General | ||||||||||||||||||||||||
Baotou Steel Pipe Joint Venture | 16 | 403 | 163 | (128 | ) | Steel Holdings, Inc.: | |||||||||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | (2,689 | ) | (26 | ) | 2,437 | (424 | ) | Longmen Joint Venture | $ | -16,457 | $ | -114,936 | $ | -161,897 | $ | -32,668 | |||||||||||||||
Total net loss attributable to General Steel Holdings, Inc. | 4,917 | (40,190 | ) | $ | (9,593 | ) | $ | (2,979 | ) | Maoming Hengda | -2,721 | -18,968 | 3,763 | -5,450 | |||||||||||||||||
Interdivision net income | - | - | (3,434 | ) | - | Baotou Steel | 70 | -531 | -1,861 | -744 | |||||||||||||||||||||
Reconciling item (1) | (1,116 | ) | (1,408 | ) | (803 | ) | (805 | ) | General Steel (China) & Tianwu Joint Venture | -10,485 | -13,128 | -17,120 | -330 | ||||||||||||||||||
Consolidated net loss attributable to General Steel Holdings, Inc. | $ | 3,801 | $ | (41,598 | ) | $ | (13,830 | ) | $ | (3,784 | ) | Total net income (loss) attributable to General Steel Holdings, Inc. | -29,593 | -147,563 | -177,115 | -39,192 | |||||||||||||||
Interdivision net income | - | - | -1,501 | -1,762 | |||||||||||||||||||||||||||
Depreciation and amortization: | 2013 | 2012 | 2011 | 2010 | Reconciling item (1) | -3,423 | -5,134 | 1,429 | 10,948 | ||||||||||||||||||||||
Longmen Joint Venture | $ | 21,014 | $ | 19,915 | $ | 16,979 | $ | 10,086 | Consolidated net loss attributable to General Steel Holdings, Inc. | $ | -33,016 | $ | -152,697 | $ | -177,187 | $ | -30,006 | ||||||||||||||
Maoming Hengda | 307 | 451 | 531 | 928 | |||||||||||||||||||||||||||
Baotou Steel | 62 | 52 | 60 | 74 | Depreciation, amortization | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | 505 | 790 | 793 | 753 | and depletion: | ||||||||||||||||||||||||||
Consolidated depreciation and amortization | $ | 21,888 | $ | 21,208 | $ | 18,363 | $ | 11,841 | Longmen Joint Venture | $ | 85,603 | $ | 79,048 | $ | 54,755 | $ | 34,131 | ||||||||||||||
Maoming Hengda | 1,237 | 1,984 | 205 | 3,411 | |||||||||||||||||||||||||||
Finance/interest expenses: | 2013 | 2012 | 2011 | 2010 | Baotou Steel | 246 | 185 | 246 | 281 | ||||||||||||||||||||||
Longmen Joint Venture | $ | 20,591 | $ | 28,378 | $ | 25,925 | $ | 10,957 | General Steel (China) & Tianwu Joint Venture | 1,962 | 2,714 | 3,125 | 3,330 | ||||||||||||||||||
Maoming Hengda | 1 | 35 | 217 | 85 | Consolidated depreciation, amortization and depletion | $ | 89,048 | $ | 83,931 | $ | 58,331 | $ | 41,153 | ||||||||||||||||||
Baotou Steel | - | 127 | - | (7 | ) | ||||||||||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | 2,249 | 2,467 | 3,539 | 682 | Finance/interest expenses: | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||||||
Less: interdivision expenses | - | - | (6 | ) | - | Longmen Joint Venture | $ | 83,062 | $ | 142,086 | $ | 90,325 | $ | 49,180 | |||||||||||||||||
Reconciling item (1) | 1 | (3 | ) | (1 | ) | (1,527 | ) | Maoming Hengda | 1 | 13 | 262 | 109 | |||||||||||||||||||
Consolidated interest expenses | $ | 22,842 | $ | 31,004 | $ | 29,674 | $ | 10,190 | Baotou Steel | - | 485 | -10 | 14 | ||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | 8,812 | 10,861 | 6,655 | 1,955 | |||||||||||||||||||||||||||
Capital expenditures: | 2013 | 2012 | 2011 | 2010 | Interdivision interest expenses | - | - | -709 | - | ||||||||||||||||||||||
Longmen Joint Venture | $ | 16,455 | $ | 3,259 | $ | 19,889 | $ | 19,605 | Reconciling item (1) | 3 | 298 | 4,379 | 25 | ||||||||||||||||||
Maoming Hengda | - | 23 | 3,505 | 8,045 | Consolidated interest expenses | $ | 91,878 | $ | 153,743 | $ | 100,902 | $ | 51,283 | ||||||||||||||||||
Baotou Steel | - | 1 | 3 | 12 | |||||||||||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | - | 15 | - | 4 | Capital expenditures: | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||||||
Reconciling item (1) | - | - | - | - | Longmen Joint Venture | $ | 43,341 | $ | 27,837 | $ | 108,885 | $ | 80,718 | ||||||||||||||||||
Consolidated capital expenditures | $ | 16,455 | $ | 3,298 | $ | 23,397 | $ | 27,666 | Maoming Hengda | 2 | 73 | 1,978 | 8,735 | ||||||||||||||||||
Baotou Steel | 8 | 11 | 32 | 44 | |||||||||||||||||||||||||||
The following represents results of division operations for nine months ended September 30, 2013, 2012, 2011 and 2010: | General Steel (China) & Tianwu Joint Venture | 4 | 55 | 44 | 419 | ||||||||||||||||||||||||||
Consolidated capital expenditures | $ | 43,355 | $ | 27,976 | $ | 110,939 | $ | 89,916 | |||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||
Sales: | 2013 | 2012 | 2011 | 2010 | Total Assets as of: | December 31, | December 31, | December 31, | December 31, | ||||||||||||||||||||||
Longmen Joint Venture | $ | 1,903,933 | $ | 2,126,556 | $ | 2,752,918 | $ | 1,389,215 | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||
Maoming Hengda | 3,124 | 4,003 | 6,399 | 7,839 | Longmen Joint Venture | $ | 2,573,212 | $ | 2,513,206 | $ | 2, 937,271 | $ | 1,694,895 | ||||||||||||||||||
Baotou Steel Pipe Joint Venture | 3,902 | 3,923 | 6,865 | 9,587 | Maoming Hengda | 29,211 | 29,687 | 48,350 | 47,839 | ||||||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | 58,416 | 141,668 | 189,370 | 35,048 | Baotou Steel Pipe Joint Venture | 4,448 | 5,186 | 8,093 | 31,852 | ||||||||||||||||||||||
Total sales | 1,969,375 | 2,276,150 | $ | 2,955,552 | $ | 1,441,689 | General Steel (China) & Tianwu Joint Venture | 121,883 | 152,965 | 146,150 | 194,966 | ||||||||||||||||||||
Interdivision revenue | (54,338 | ) | (136,001 | ) | (185,196 | ) | (26,710 | ) | Interdivision assets | -34,213 | -57,436 | -88,326 | -173,076 | ||||||||||||||||||
Consolidated sales | $ | 1,915,037 | $ | 2,140,149 | $ | 2,770,356 | $ | 1,414,979 | Reconciling item (2) | 5,817 | 7,074 | 2,583 | 2,904 | ||||||||||||||||||
Total Assets | $ | 2,700,358 | $ | 2,650,682 | $ | 3,054,121 | $ | 1,799,380 | |||||||||||||||||||||||
Gross profit | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||||||||||
Longmen Joint Venture | $ | (23,704 | ) | $ | 12,628 | $ | 56,215 | $ | 28,450 | -1 | Reconciling item represents the unallocated income or expenses of the Company, arising from General Steel Investment Co., Ltd, Yangpu Shengtong Investment Co., Ltd and Qiu Steel for the years ended December 31, 2013, 2012, 2011 and 2010. | ||||||||||||||||||||
Maoming Hengda | 188 | (1,174 | ) | (886 | ) | (2,347 | ) | ||||||||||||||||||||||||
Baotou Steel Pipe Joint Venture | 249 | 193 | 491 | 535 | -2 | Reconciling item represents assets held at General Steel Holdings, Inc., General Steel Investment Co., Ltd, Yangpu Shengtong Investment Co., Ltd and Qiu Steel as of December 31, 2013, 2012, 2011 and 2010. | |||||||||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | 29 | 8,431 | 4,783 | 192 | |||||||||||||||||||||||||||
Total profit | (23,238 | ) | 20,078 | $ | 60,603 | $ | 26,830 | ||||||||||||||||||||||||
Interdivision gross profit | - | - | 1,836 | (131 | ) | ||||||||||||||||||||||||||
Consolidated profit | $ | (23,238 | ) | $ | 20,078 | $ | 62,439 | $ | 26,699 | ||||||||||||||||||||||
Income (loss) from operations: | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||||||||||
Longmen Joint Venture | $ | 20,558 | $ | (56,932 | ) | $ | (5,599 | ) | $ | 1,905 | |||||||||||||||||||||
Maoming Hengda | (1,741 | ) | (2,498 | ) | (2,537 | ) | (4,947 | ) | |||||||||||||||||||||||
Baotou Steel Pipe Joint Venture | (285 | ) | 224 | (285 | ) | (462 | ) | ||||||||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | (2,293 | ) | 4,878 | (1,867 | ) | (546 | ) | ||||||||||||||||||||||||
Total income (loss) from operations | 16,239 | (54,328 | ) | $ | (10,288 | ) | $ | (4,050 | ) | ||||||||||||||||||||||
Interdivision income from operations | - | - | 1,836 | - | |||||||||||||||||||||||||||
Reconciling item (1) | (3,504 | ) | (4,003 | ) | (3,695 | ) | (4,624 | ) | |||||||||||||||||||||||
Consolidated income (loss) from operations | $ | 12,735 | $ | (58,331 | ) | $ | (12,147 | ) | $ | (8,674 | ) | ||||||||||||||||||||
Net loss attributable to General Steel Holdings, Inc: | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||||||||||
Longmen Joint Venture | $ | (18,335 | ) | $ | (92,974 | ) | $ | (44,654 | ) | $ | (15,913 | ) | |||||||||||||||||||
Maoming Hengda | (1,681 | ) | (2,393 | ) | 3,770 | (4,975 | ) | ||||||||||||||||||||||||
Baotou Steel Pipe Joint Venture | (227 | ) | (263 | ) | (77 | ) | (304 | ) | |||||||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | (9,373 | ) | (3,079 | ) | (5,876 | ) | (1,038 | ) | |||||||||||||||||||||||
Total net loss attributable to General Steel Holdings, Inc. | (29,616 | ) | (98,709 | ) | $ | (46,837 | ) | $ | (22,230 | ) | |||||||||||||||||||||
Interdivision net income | - | - | (1,461 | ) | - | ||||||||||||||||||||||||||
Reconciling item (1) | (3,298 | ) | (4,050 | ) | 2,636 | 10,830 | |||||||||||||||||||||||||
Consolidated net loss attributable to General Steel Holdings, Inc. | $ | (32,914 | ) | $ | (102,759 | ) | $ | (45,662 | ) | $ | (11,400 | ) | |||||||||||||||||||
Depreciation and amortization: | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||||||||||
Longmen Joint Venture | $ | 62,295 | $ | 58,573 | $ | 35,983 | $ | 25,937 | |||||||||||||||||||||||
Maoming Hengda | 933 | 1,447 | 1,879 | 2,756 | |||||||||||||||||||||||||||
Baotou Steel | 185 | 134 | 184 | 220 | |||||||||||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | 1,542 | 2,384 | 2,339 | 2,262 | |||||||||||||||||||||||||||
Consolidated depreciation and amortization | $ | 64,955 | $ | 62,538 | $ | 40,385 | $ | 31,175 | |||||||||||||||||||||||
Finance/interest expenses: | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||||||||||
Longmen Joint Venture | $ | 60,984 | $ | 112,822 | $ | 58,046 | $ | 37,506 | |||||||||||||||||||||||
Maoming Hengda | 1 | 47 | 218 | 109 | |||||||||||||||||||||||||||
Baotou Steel | - | 381 | - | 13 | |||||||||||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | 7,927 | 8,819 | 6,016 | 1,501 | |||||||||||||||||||||||||||
Less: interdivision expenses | - | - | (707 | ) | - | ||||||||||||||||||||||||||
Reconciling item (1) | 3 | (1 | ) | 1 | (1,512 | ) | |||||||||||||||||||||||||
Consolidated interest expenses | $ | 68,915 | $ | 122,068 | $ | 63,574 | $ | 37,617 | |||||||||||||||||||||||
Capital expenditures: | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||||||||||
Longmen Joint Venture | $ | 60,461 | $ | 19,604 | $ | 50,661 | $ | 48,583 | |||||||||||||||||||||||
Maoming Hengda | 2 | 38 | 3,790 | 8,281 | |||||||||||||||||||||||||||
Baotou Steel | 8 | 6 | 32 | 36 | |||||||||||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | 3 | 18 | 8 | 6 | |||||||||||||||||||||||||||
Reconciling item (1) | - | - | 3 | - | |||||||||||||||||||||||||||
Consolidated capital expenditures | $ | 60,474 | $ | 19,666 | $ | 54,494 | $ | 56,906 | |||||||||||||||||||||||
The following represents results of division operations for three months ended June 30, 2013, 2012, 2011 and 2010: | |||||||||||||||||||||||||||||||
Sales: | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||||||||||
Longmen Joint Venture | $ | 650,741 | $ | 774,306 | $ | 1,056,675 | $ | 499,361 | |||||||||||||||||||||||
Maoming Hengda | 1,349 | 889 | 1,917 | 2,006 | |||||||||||||||||||||||||||
Baotou Steel Pipe Joint Venture | 972 | 2,424 | 2,815 | 5,142 | |||||||||||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | 5,454 | 7,135 | 87,277 | 5,909 | |||||||||||||||||||||||||||
Total sales | 658,516 | 784,754 | 1,148,684 | 512,418 | |||||||||||||||||||||||||||
Interdivision revenue | (4,865 | ) | (4,071 | ) | (86,953 | ) | (10,739 | ) | |||||||||||||||||||||||
Consolidated sales | $ | 653,651 | $ | 780,683 | $ | 1,061,731 | $ | 501,679 | |||||||||||||||||||||||
Gross profit | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||||||||||
Longmen Joint Venture | $ | (36,193 | ) | $ | 25,770 | $ | 22,300 | $ | 8,120 | ||||||||||||||||||||||
Maoming Hengda | 473 | (330 | ) | (495 | ) | (1,202 | ) | ||||||||||||||||||||||||
Baotou Steel Pipe Joint Venture | 167 | 54 | 179 | 425 | |||||||||||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | 17 | 2,550 | 1,115 | 15 | |||||||||||||||||||||||||||
Total gross profit | (35,536 | ) | 28,044 | 23,099 | 7,358 | ||||||||||||||||||||||||||
Interdivision profit | - | - | 241 | 6 | |||||||||||||||||||||||||||
Consolidated gross profit | $ | (35,536 | ) | $ | 28,044 | $ | 23,340 | $ | 7,364 | ||||||||||||||||||||||
Income (loss) from operations: | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||||||||||
Longmen Joint Venture | $ | (44,685 | ) | $ | 2,903 | $ | 138 | $ | (1,046 | ) | |||||||||||||||||||||
Maoming Hengda | (225 | ) | (734 | ) | (1,168 | ) | (3,275 | ) | |||||||||||||||||||||||
Baotou Steel Pipe Joint Venture | 55 | (240 | ) | (64 | ) | 43 | |||||||||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | (790 | ) | 2,480 | (4,636 | ) | (236 | ) | ||||||||||||||||||||||||
Total loss from operations | (45,645 | ) | 4,409 | (5,730 | ) | (4,514 | ) | ||||||||||||||||||||||||
Interdivision income from operations | - | - | 241 | - | |||||||||||||||||||||||||||
Reconciling item (1) | (1,245 | ) | (2,117 | ) | (1,540 | ) | (1,799 | ) | |||||||||||||||||||||||
Consolidated loss from operations | $ | (46,890 | ) | $ | 2,292 | $ | (7,029 | ) | $ | (6,313 | ) | ||||||||||||||||||||
Net loss attributable to General Steel Holdings, Inc.: | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||||||||||
Longmen Joint Venture | $ | (34,944 | ) | $ | (23,132 | ) | $ | (19,707 | ) | $ | (7,472 | ) | |||||||||||||||||||
Maoming Hengda | (216 | ) | (784 | ) | 2,292 | (3,300 | ) | ||||||||||||||||||||||||
Baotou Steel Pipe Joint Venture | 46 | (292 | ) | - | 25 | ||||||||||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | (3,528 | ) | (75 | ) | (6,991 | ) | (333 | ) | |||||||||||||||||||||||
Total net loss attributable to General Steel Holdings, Inc. | (38,642 | ) | (24,283 | ) | (24,406 | ) | (11,080 | ) | |||||||||||||||||||||||
Interdivision net income | - | - | 398 | - | |||||||||||||||||||||||||||
Reconciling item (1) | (1,176 | ) | (2,094 | ) | 1,093 | 9,076 | |||||||||||||||||||||||||
Consolidated net loss attributable to General Steel Holdings, Inc. | $ | (39,818 | ) | $ | (26,377 | ) | $ | (22,915 | ) | $ | (2,004 | ) | |||||||||||||||||||
Depreciation and amortization: | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||||||||||
Longmen Joint Venture | $ | 20,850 | $ | 19,412 | $ | 11,501 | $ | 8,021 | |||||||||||||||||||||||
Maoming Hengda | 315 | 492 | 758 | 899 | |||||||||||||||||||||||||||
Baotou Steel | 26 | 71 | 64 | 74 | |||||||||||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | 518 | 795 | 777 | 754 | |||||||||||||||||||||||||||
Consolidated depreciation and amortization | $ | 21,709 | $ | 20,770 | $ | 13,100 | $ | 9,748 | |||||||||||||||||||||||
Finance / interest expenses: | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||||||||||
Longmen Joint Venture | $ | 18,243 | $ | 44,879 | $ | 18,391 | $ | 15,932 | |||||||||||||||||||||||
Maoming Hengda | - | - | 1 | 24 | |||||||||||||||||||||||||||
Baotou Steel | - | 126 | - | 20 | |||||||||||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | 2,972 | 3,321 | 2,088 | 473 | |||||||||||||||||||||||||||
Less: interdivision expense | - | - | (701 | ) | - | ||||||||||||||||||||||||||
Reconciling item (1) | 1 | 2 | 2 | 15 | |||||||||||||||||||||||||||
Consolidated interest expenses | $ | 21,216 | $ | 48,328 | $ | 19,781 | $ | 16,464 | |||||||||||||||||||||||
Capital expenditures: | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||||||||||
Longmen Joint Venture | $ | 27,922 | $ | 7,903 | $ | 20,110 | $ | 22,274 | |||||||||||||||||||||||
Maoming Hengda | - | 15 | 69 | 130 | |||||||||||||||||||||||||||
Baotou Steel | 1 | - | 6 | 19 | |||||||||||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | 2 | 2 | - | - | |||||||||||||||||||||||||||
Reconciling item (1) | - | - | - | - | |||||||||||||||||||||||||||
Consolidated capital expenditures | $ | 27,925 | $ | 7,920 | $ | 20,185 | $ | 22,423 | |||||||||||||||||||||||
The following represents results of division operations for six months ended June 30, 2013, 2012, 2011 and 2010: | |||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||
Sales: | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||||||||||
Longmen Joint Venture | $ | 1,297,489 | $ | 1,417,582 | $ | 1,765,980 | $ | 934,187 | |||||||||||||||||||||||
Maoming Hengda | 2,872 | 2,869 | 2,461 | 5,880 | |||||||||||||||||||||||||||
Baotou Steel Pipe Joint Venture | 981 | 2,601 | 3,429 | 6,320 | |||||||||||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | 54,180 | 12,327 | 97,643 | 19,054 | |||||||||||||||||||||||||||
Total sales | 1,355,522 | 1,435,379 | 1,869,513 | 965,441 | |||||||||||||||||||||||||||
Interdivision revenue | (50,580 | ) | (6,655 | ) | (97,318 | ) | (10,739 | ) | |||||||||||||||||||||||
Consolidated sales | $ | 1,304,942 | $ | 1,428,724 | $ | 1,772,195 | $ | 954,702 | |||||||||||||||||||||||
Gross profit | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||||||||||
Longmen Joint Venture | $ | (31,826 | ) | $ | 31,045 | $ | 26,818 | $ | 14,146 | ||||||||||||||||||||||
Maoming Hengda | 245 | (413 | ) | (917 | ) | (1,519 | ) | ||||||||||||||||||||||||
Baotou Steel Pipe Joint Venture | 89 | 73 | 52 | 457 | |||||||||||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | 23 | 2,969 | 620 | 20 | |||||||||||||||||||||||||||
Total gross profit | (31,469 | ) | 33,674 | 26,573 | 13,104 | ||||||||||||||||||||||||||
Interdivision profit | - | - | 1,816 | 6 | |||||||||||||||||||||||||||
Consolidated gross profit | $ | (31,469 | ) | $ | 33,674 | $ | 28,389 | $ | 13,110 | ||||||||||||||||||||||
Income (loss) from operations: | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||||||||||
Longmen Joint Venture | $ | (9,748 | ) | $ | (14,321 | ) | $ | (7,370 | ) | $ | (4,828 | ) | |||||||||||||||||||
Maoming Hengda | (1,022 | ) | (1,436 | ) | (2,060 | ) | (3,872 | ) | |||||||||||||||||||||||
Baotou Steel Pipe Joint Venture | (305 | ) | (406 | ) | (485 | ) | (274 | ) | |||||||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | (1,598 | ) | 2,479 | (5,633 | ) | (475 | ) | ||||||||||||||||||||||||
Total loss from operations | (12,673 | ) | (13,684 | ) | (15,548 | ) | $ | (9,449 | ) | ||||||||||||||||||||||
Interdivision income from operations | - | - | 1,816 | - | |||||||||||||||||||||||||||
Reconciling item (1) | (2,326 | ) | (2,653 | ) | (2,749 | ) | (3,254 | ) | |||||||||||||||||||||||
Consolidated loss from operations | $ | (14,999 | ) | $ | (16,337 | ) | $ | (16,481 | ) | $ | (12,703 | ) | |||||||||||||||||||
Net loss attributable to General Steel Holdings, Inc.: | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||||||||||
Longmen Joint Venture | $ | (26,619 | ) | $ | (53,480 | ) | $ | (29,885 | ) | $ | (14,562 | ) | |||||||||||||||||||
Maoming Hengda | (987 | ) | (1,320 | ) | 1,197 | (3,899 | ) | ||||||||||||||||||||||||
Baotou Steel Pipe Joint Venture | (243 | ) | (666 | ) | (240 | ) | (176 | ) | |||||||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | (6,684 | ) | (3,053 | ) | (8,313 | ) | (614 | ) | |||||||||||||||||||||||
Total net loss attributable to General Steel Holdings, Inc. | (34,533 | ) | (58,519 | ) | (37,241 | ) | (19,251 | ) | |||||||||||||||||||||||
Interdivision net income | - | - | 1,973 | - | |||||||||||||||||||||||||||
Reconciling item (1) | (2,182 | ) | (2,642 | ) | 3,436 | 11,635 | |||||||||||||||||||||||||
Consolidated net loss attributable to General Steel Holdings, Inc. | $ | (36,715 | ) | $ | (61,161 | ) | $ | (31,832 | ) | $ | (7,616 | ) | |||||||||||||||||||
Depreciation and amortization: | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||||||||||
Longmen Joint Venture | $ | 41,281 | $ | 38,658 | $ | 19,004 | $ | 15,851 | |||||||||||||||||||||||
Maoming Hengda | 626 | 996 | 1,348 | 1,828 | |||||||||||||||||||||||||||
Baotou Steel | 123 | 82 | 124 | 146 | |||||||||||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | 1,037 | 1,593 | 1,546 | 1,509 | |||||||||||||||||||||||||||
Consolidated depreciation and amortization | $ | 43,067 | $ | 41,329 | $ | 22,022 | $ | 19,334 | |||||||||||||||||||||||
Finance / interest expenses: | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||||||||||
Longmen Joint Venture | $ | 40,393 | $ | 84,444 | $ | 32,121 | $ | 26,549 | |||||||||||||||||||||||
Maoming Hengda | - | 12 | 1 | 24 | |||||||||||||||||||||||||||
Baotou Steel | - | 254 | - | 20 | |||||||||||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | 5,678 | 6,352 | 2,477 | 819 | |||||||||||||||||||||||||||
Less: interdivision expense | - | - | (701 | ) | - | ||||||||||||||||||||||||||
Reconciling item (1) | 2 | 2 | 2 | 15 | |||||||||||||||||||||||||||
Consolidated interest expenses | $ | 46,073 | $ | 91,064 | $ | 33,900 | $ | 27,427 | |||||||||||||||||||||||
Capital expenditures: | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||||||||||
Longmen Joint Venture | $ | 44,006 | $ | 16,345 | $ | 30,772 | $ | 28,979 | |||||||||||||||||||||||
Maoming Hengda | 2 | 15 | 285 | 235 | |||||||||||||||||||||||||||
Baotou Steel | 8 | 5 | 29 | 24 | |||||||||||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | 3 | 3 | 8 | 2 | |||||||||||||||||||||||||||
Reconciling item (1) | - | - | 3 | - | |||||||||||||||||||||||||||
Consolidated capital expenditures | $ | 44,019 | $ | 16,368 | $ | 31,097 | $ | 29,240 | |||||||||||||||||||||||
The following represents results of division operations for three months ended March 31, 2013, 2012 and 2011: | |||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||
Sales: | 2013 | 2012 | 2011 | ||||||||||||||||||||||||||||
Longmen Joint Venture | $ | 646,748 | $ | 643,276 | $ | 709,305 | |||||||||||||||||||||||||
Maoming Hengda | 1,523 | 1,980 | 544 | ||||||||||||||||||||||||||||
Baotou Steel Pipe Joint Venture | 9 | 177 | 614 | ||||||||||||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | 48,726 | 5,192 | 10,366 | ||||||||||||||||||||||||||||
Total sales | 697,006 | 650,625 | 720,829 | ||||||||||||||||||||||||||||
Interdivision sales | (45,715 | ) | (2,584 | ) | (10,365 | ) | |||||||||||||||||||||||||
Consolidated sales | $ | 651,291 | $ | 648,041 | $ | 710,464 | |||||||||||||||||||||||||
Gross profit: | 2013 | 2012 | 2011 | ||||||||||||||||||||||||||||
Longmen Joint Venture | $ | 4,367 | $ | 5,275 | $ | 4,518 | |||||||||||||||||||||||||
Maoming Hengda | (228 | ) | (83 | ) | (422 | ) | |||||||||||||||||||||||||
Baotou Steel | (78 | ) | 19 | (127 | ) | ||||||||||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | 6 | 419 | (494 | ) | |||||||||||||||||||||||||||
Total gross profit | 4,067 | 5,630 | 3,474 | ||||||||||||||||||||||||||||
Interdivision gross profit | - | - | 1,575 | ||||||||||||||||||||||||||||
Consolidated gross profit | $ | 4,067 | $ | 5,630 | $ | 5,049 | |||||||||||||||||||||||||
Income (loss) from operations: | 2013 | 2012 | 2011 | ||||||||||||||||||||||||||||
Longmen Joint Venture | $ | 34,937 | $ | (17,224 | ) | $ | (7,508 | ) | |||||||||||||||||||||||
Maoming Hengda | (797 | ) | (702 | ) | (892 | ) | |||||||||||||||||||||||||
Baotou Steel | (361 | ) | (166 | ) | (421 | ) | |||||||||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | (808 | ) | (1 | ) | (997 | ) | |||||||||||||||||||||||||
Total loss from operations | 32,971 | (18,093 | ) | (9,818 | ) | ||||||||||||||||||||||||||
Interdivision income (loss) from operations | - | - | 1,575 | ||||||||||||||||||||||||||||
Reconciling item (1) | (1,080 | ) | (536 | ) | (1,209 | ) | |||||||||||||||||||||||||
Consolidated income (loss) from operations | $ | 31,891 | $ | (18,629 | ) | $ | (9,452 | ) | |||||||||||||||||||||||
Net income (loss) attributable to General Steel Holdings, Inc.: | 2013 | 2012 | 2011 | ||||||||||||||||||||||||||||
Longmen Joint Venture | $ | 8,325 | $ | (30,348 | ) | $ | (10,178 | ) | |||||||||||||||||||||||
Maoming Hengda | (771 | ) | (536 | ) | (1,095 | ) | |||||||||||||||||||||||||
Baotou Steel | (289 | ) | (374 | ) | (240 | ) | |||||||||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | (3,156 | ) | (2,978 | ) | (1,322 | ) | |||||||||||||||||||||||||
Total net loss attributable to General Steel Holdings, Inc. | 4,109 | (34,236 | ) | (12,835 | ) | ||||||||||||||||||||||||||
Interdivision net income | - | - | 1,575 | ||||||||||||||||||||||||||||
Reconciling item (1) | (1,006 | ) | (548 | ) | 2,343 | ||||||||||||||||||||||||||
Consolidated net income (loss) attributable to General Steel Holdings, Inc. | $ | 3,103 | $ | (34,784 | ) | $ | (8,917 | ) | |||||||||||||||||||||||
Depreciation, amortization and depletion: | 2013 | 2012 | 2011 | ||||||||||||||||||||||||||||
Longmen Joint Venture | $ | 20,431 | $ | 19,246 | $ | 7,503 | |||||||||||||||||||||||||
Maoming Hengda | 311 | 504 | 590 | ||||||||||||||||||||||||||||
Baotou Steel | 97 | 11 | 60 | ||||||||||||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | 519 | 798 | 769 | ||||||||||||||||||||||||||||
Consolidated depreciation, amortization and depletion | $ | 21,358 | $ | 20,559 | $ | 8,922 | |||||||||||||||||||||||||
Finance/interest expenses: | 2013 | 2012 | 2011 | ||||||||||||||||||||||||||||
Longmen Joint Venture | $ | 22,150 | $ | 39,565 | $ | 13,730 | |||||||||||||||||||||||||
Maoming Hengda | - | 12 | - | ||||||||||||||||||||||||||||
Baotou Steel | - | 128 | - | ||||||||||||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | 2,706 | 3,031 | 389 | ||||||||||||||||||||||||||||
Reconciling item (1) | 1 | - | - | ||||||||||||||||||||||||||||
Consolidated interest expenses | $ | 24,857 | $ | 42,736 | $ | 14,119 | |||||||||||||||||||||||||
Capital expenditures: | 2013 | 2012 | 2011 | ||||||||||||||||||||||||||||
Longmen Joint Venture | $ | 16,084 | $ | 10,723 | $ | 10,662 | |||||||||||||||||||||||||
Maoming Hengda | 2 | - | 216 | ||||||||||||||||||||||||||||
Baotou Steel | 7 | 5 | 23 | ||||||||||||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | 1 | 1 | 8 | ||||||||||||||||||||||||||||
Reconciling item (1) | - | - | 3 | ||||||||||||||||||||||||||||
Consolidated capital expenditures | $ | 16,094 | $ | 10,729 | $ | 10,912 | |||||||||||||||||||||||||
The following represents total assets by division operations for as of September 30, 2013, June 30, 2013, March 31, 2013, December 31, 2012, September 30, 2012, June 30, 2012, March 31, 2012, December 31, 2011, September 30, 2011, June 30, 2011 and December 31, 2010: | |||||||||||||||||||||||||||||||
Total Assets as of: | 30-Sep-13 | 30-Jun-13 | 31-Mar-13 | 31-Dec-12 | |||||||||||||||||||||||||||
Longmen Joint Venture | $ | 2,537,952 | $ | 2,371,719 | $ | 2,369,631 | $ | 2,513,206 | |||||||||||||||||||||||
Maoming Hengda | 29,340 | 29,459 | 29,762 | 29,687 | |||||||||||||||||||||||||||
Baotou Steel Pipe Joint Venture | 5,116 | 4,855 | 4,318 | 5,186 | |||||||||||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | 178,844 | 88,192 | 71,308 | 152,965 | |||||||||||||||||||||||||||
Interdivision assets | (84,880 | ) | (46,877 | ) | (43,797 | ) | (57,436 | ) | |||||||||||||||||||||||
Reconciling item (2) | 5,654 | 7,266 | 9,376 | 7,074 | |||||||||||||||||||||||||||
Total Assets | $ | 2,672,026 | $ | 2,454,614 | $ | 2,440,598 | $ | 2,650,682 | |||||||||||||||||||||||
Total Assets as of: | 30-Sep-12 | 30-Jun-12 | 31-Mar-12 | 31-Dec-11 | |||||||||||||||||||||||||||
Longmen Joint Venture | $ | 2,434,666 | $ | 2,625,990 | $ | 3,083,013 | $ | 2,937,271 | |||||||||||||||||||||||
Maoming Hengda | 46,008 | 46,373 | 47,787 | 48,350 | |||||||||||||||||||||||||||
Baotou Steel Pipe Joint Venture | 7,658 | 6,230 | 8,044 | 8,093 | |||||||||||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | 161,640 | 163,032 | 197,443 | 146,150 | |||||||||||||||||||||||||||
Interdivision assets | (52,640 | ) | (88,292 | ) | (78,892 | ) | (88,326 | ) | |||||||||||||||||||||||
Reconciling item (2) | 11,232 | 7,785 | 9,430 | 2,583 | |||||||||||||||||||||||||||
Total Assets | $ | 2,608,564 | $ | 2,761,118 | $ | 3,266,825 | $ | 3,054,121 | |||||||||||||||||||||||
Total Assets as of: | 30-Sep-11 | 30-Jun-11 | 31-Dec-10 | ||||||||||||||||||||||||||||
Longmen Joint Venture | $ | 2,724,198 | $ | 2,398,501 | $ | 1,694,895 | |||||||||||||||||||||||||
Maoming Hengda | 51,708 | 52,055 | 47,839 | ||||||||||||||||||||||||||||
Baotou Steel Pipe Joint Venture | 9,512 | 9,190 | 31,852 | ||||||||||||||||||||||||||||
General Steel (China) & Tianwu Joint Venture | 273,186 | 217,307 | 194,966 | ||||||||||||||||||||||||||||
Less: interdivision assets | (173,330 | ) | (147,058 | ) | (173,076 | ) | |||||||||||||||||||||||||
Reconciling item (2) | 579 | 1,027 | 2,904 | ||||||||||||||||||||||||||||
Consolidated Assets | $ | 2,885,853 | $ | 2, 531,022 | $ | 1,799,380 | |||||||||||||||||||||||||
-1 | Reconciling item represents the unallocated income or expenses of the Company, arising from General Steel Investment Co., Ltd, Yangpu Shengtong Investment Co., Ltd and Qiu Steel for the three and nine months ended September 30, 2013 and 2012. | ||||||||||||||||||||||||||||||
-2 | Reconciling item represents assets held at General Steel Holdings, Inc., General Steel Investment Co., Ltd, Yangpu Shengtong Investment Co., Ltd and Qiu Steel as of September 30, 2013, June 30, 2013, March 31, 2013, December 31, 2012, September 30, 2012, June 30, 2012, March 31, 2012, December 31, 2011, September 30, 2011, June 30, 2011 and December 31, 2010. | ||||||||||||||||||||||||||||||
Organization_and_Operations_De
Organization and Operations (Details Textual) | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | ||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Apr. 29, 2011 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2011 | Apr. 29, 2011 | Apr. 29, 2011 |
General Steel Investment Co Ltd [Member] | General Steel Investment Co Ltd [Member] | Longmen Joint Venture [Member] | Longmen Joint Venture [Member] | Longmen Joint Venture [Member] | Shaanxi Iron and Steel Group [Member] | Shaanxi Iron and Steel Group [Member] | Shaanxi Iron and Steel Group [Member] | Shaanxi Iron and Steel Group [Member] | Shaanxi Iron and Steel Group [Member] | |||
USD ($) | CNY | |||||||||||
Equity Method Investment, Ownership Percentage | 60.00% | ' | 100.00% | 100.00% | 60.00% | 60.00% | 60.00% | ' | ' | ' | ' | ' |
Iron and Steel Making Facilities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $605.80 | 3,700 |
Unified Management Agreement, Percentage Of Pretax Profit | ' | ' | ' | ' | 60.00% | 60.00% | ' | 40.00% | 40.00% | 40.00% | ' | ' |
Unified Management Agreement, Economic Interest | 60.00% | 60.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unified Management Agreement, Economic Interest Decreased | 36.00% | 36.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage Of Overall Capacity | 75.00% | 75.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restatement_Details
Restatement (Details) (USD $) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||||||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Sep. 30, 2010 | Jun. 30, 2010 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2011 | Jun. 30, 2010 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Consolidated Statements of Operations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Change in fair value of profit sharing liability | $39,164 | $9,494 | $46,779 | ($5,611) | ($5,620) | ($5,630) | ($5,407) | ($3,336) | $0 | $0 | $0 | $56,273 | ($11,250) | ($3,336) | $0 | $95,437 | ($16,861) | ($8,743) | $0 | $174,569 | ($22,499) | ($14,047) | $0 |
Loss from operations | 27,734 | -46,890 | 31,891 | -41,994 | 2,292 | -18,629 | 4,334 | -7,029 | -9,452 | 4,029 | -6,313 | -14,999 | -16,337 | -16,481 | -12,703 | 12,735 | -58,331 | -12,147 | -8,674 | 34,405 | -95,457 | -194,088 | -21,162 |
Finance/interest expense | -22,842 | -21,216 | -24,857 | -31,004 | -48,328 | -42,736 | -29,674 | -19,781 | -14,119 | -10,190 | -16,464 | -46,073 | -91,064 | -33,900 | -27,427 | -68,915 | -122,068 | -63,574 | -37,617 | -91,878 | -153,743 | -100,902 | -51,283 |
Other expense, net | -18,309 | -16,778 | -21,300 | -24,124 | -44,378 | -36,583 | -26,110 | -10,366 | -6,870 | -8,684 | -1,232 | -38,078 | -80,961 | -17,236 | -6,802 | -56,387 | -105,085 | -43,346 | -15,486 | -76,676 | -135,685 | -73,617 | -33,891 |
Consolidated Statements of Cash Flows | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortization of deferred financing cost on capital lease | ' | ' | 5,095 | ' | ' | 5,209 | ' | ' | 0 | ' | ' | 10,217 | 10,377 | 3,362 | 0 | 15,338 | 15,502 | 8,539 | 0 | 20,799 | 20,623 | 13,657 | 0 |
Change in fair value of profit sharing liability | -39,164 | -9,494 | -46,779 | 5,611 | 5,620 | 5,630 | 5,407 | 3,336 | 0 | 0 | 0 | -56,273 | 11,250 | 3,336 | 0 | -95,437 | 16,861 | 8,743 | 0 | -174,569 | 22,499 | 14,047 | 0 |
Scenario, Previously Reported [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated Statements of Operations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Change in fair value of profit sharing liability | 41,825 | 14,160 | 51,892 | 0 | 0 | 0 | 0 | 0 | ' | ' | ' | 66,052 | 0 | 0 | ' | 107,877 | 0 | 0 | ' | ' | 0 | 0 | ' |
Loss from operations | 30,395 | -42,224 | 37,004 | -36,383 | 7,912 | -12,999 | 9,741 | -3,693 | ' | ' | ' | -5,220 | -5,087 | -13,145 | ' | 25,175 | -41,470 | -3,404 | ' | ' | -72,958 | -180,041 | ' |
Finance/interest expense | -25,503 | -25,882 | -29,970 | -36,615 | -53,948 | -48,366 | -35,081 | -23,117 | ' | ' | ' | -55,852 | -102,314 | -37,236 | ' | -81,355 | -138,929 | -72,317 | ' | ' | -176,242 | -114,949 | ' |
Other expense, net | -20,970 | -21,444 | -26,413 | -29,735 | -49,998 | -42,213 | -31,517 | -13,702 | ' | ' | ' | -47,857 | -92,211 | -20,572 | ' | -68,827 | -121,946 | -52,089 | ' | ' | -158,184 | -87,664 | ' |
Consolidated Statements of Cash Flows | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortization of deferred financing cost on capital lease | ' | ' | 10,208 | ' | ' | 10,839 | ' | ' | ' | ' | ' | 19,996 | 21,627 | 6,698 | ' | 27,778 | 32,363 | 17,282 | ' | ' | 43,122 | 27,704 | ' |
Change in fair value of profit sharing liability | -41,825 | -14,160 | -51,892 | 0 | 0 | 0 | 0 | 0 | ' | ' | ' | -66,052 | 0 | 0 | ' | -107,877 | 0 | 0 | ' | ' | 0 | 0 | ' |
Scenario, Adjustment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated Statements of Operations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Change in fair value of profit sharing liability | -2,661 | -4,666 | -5,113 | -5,611 | -5,620 | -5,630 | -5,407 | -3,336 | ' | ' | ' | -9,779 | -11,250 | -3,336 | ' | -12,440 | -16,861 | -8,743 | ' | ' | -22,499 | -14,047 | ' |
Loss from operations | -2,661 | -4,666 | -5,113 | -5,611 | -5,620 | -5,630 | -5,407 | -3,336 | ' | ' | ' | -9,779 | -11,250 | -3,336 | ' | -12,440 | -16,861 | -8,743 | ' | ' | -22,499 | -14,047 | ' |
Finance/interest expense | 2,661 | 4,666 | 5,113 | 5,611 | 5,620 | 5,630 | 5,407 | 3,336 | ' | ' | ' | 9,779 | 11,250 | 3,336 | ' | 12,440 | 16,861 | 8,743 | ' | ' | 22,499 | 14,047 | ' |
Other expense, net | 2,661 | 4,666 | 5,113 | 5,611 | 5,620 | 5,630 | 5,407 | 3,336 | ' | ' | ' | 9,779 | 11,250 | 3,336 | ' | 12,440 | 16,861 | 8,743 | ' | ' | 22,499 | 14,047 | ' |
Consolidated Statements of Cash Flows | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortization of deferred financing cost on capital lease | ' | ' | -5,113 | ' | ' | -5,630 | ' | ' | ' | ' | ' | -9,779 | -11,250 | -3,336 | ' | -12,440 | -16,861 | -8,743 | ' | ' | -22,499 | -14,047 | ' |
Change in fair value of profit sharing liability | $2,661 | $4,666 | $5,113 | $5,611 | $5,620 | $5,630 | $5,407 | $3,336 | ' | ' | ' | $9,779 | $11,250 | $3,336 | ' | $12,440 | $16,861 | $8,743 | ' | ' | $22,499 | $14,047 | ' |
Summary_of_significant_account3
Summary of significant accounting policies (Details) | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2013 | Dec. 31, 2013 | Apr. 29, 2011 | |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Equity Method Investment, Ownership Percentage | 60.00% | ' | ' |
Entity Incorporation, State Country Name | 'PRC | ' | ' |
General Steel Investment Co., Ltd. [Member] | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Equity Method Investment, Ownership Percentage | 100.00% | 100.00% | ' |
Entity Incorporation, State Country Name | 'British Virgin Islands | 'British Virgin Islands | ' |
General Steel (China) Co., Ltd. ("General Steel (China)") [Member] | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Equity Method Investment, Ownership Percentage | 100.00% | 100.00% | ' |
Entity Incorporation, State Country Name | 'PRC | 'PRC | ' |
Baotou Steel - General Steel Special Steel Pipe Joint Venture Co., Ltd. [Member] | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Equity Method Investment, Ownership Percentage | 80.00% | 80.00% | ' |
Entity Incorporation, State Country Name | 'PRC | 'PRC | ' |
Yangpu Shengtong Investment Co., Ltd. ("Yangpu Shengtong") [Member] | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Equity Method Investment, Ownership Percentage | 99.10% | 99.10% | ' |
Entity Incorporation, State Country Name | 'PRC | 'PRC | ' |
Tianjin Qiu Steel Investment Co., Ltd. ("Qiu Steel") [Member] | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Equity Method Investment, Ownership Percentage | 98.70% | 98.70% | ' |
Entity Incorporation, State Country Name | 'PRC | 'PRC | ' |
Longmen Joint Venture [Member] | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Equity Method Investment, Ownership Percentage | 60.00% | 60.00% | 60.00% |
Entity Incorporation, State Country Name | 'PRC | 'PRC | ' |
Maoming Hengda Steel Company, Ltd. ("Maoming Hengda") [Member] | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Equity Method Investment, Ownership Percentage | 99.00% | 99.00% | ' |
Entity Incorporation, State Country Name | 'PRC | 'PRC | ' |
Summary_of_significant_account4
Summary of significant accounting policies (Details 1) (USD $) | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Dec. 31, 2010 |
In Thousands, unless otherwise specified | ||||||||||||
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Current assets | $1,380,724 | $1,373,967 | $1,197,670 | $1,184,738 | $1,407,045 | $1,376,573 | $1,501,822 | $1,996,912 | $1,747,851 | $1,625,761 | $1,290,497 | $1,139,303 |
Plant and equipment, net | 1,271,907 | 1,250,542 | 1,214,558 | 1,172,318 | 1,167,836 | 1,197,472 | 1,216,493 | 1,228,772 | 1,257,236 | 1,213,799 | 1,192,496 | 602,612 |
Total assets | 2,700,358 | 2,672,026 | 2,454,614 | 2,440,598 | 2,650,682 | 2,608,564 | 2,761,118 | 3,266,825 | 3,054,121 | 2,885,853 | 2,531,022 | 1,799,380 |
Total liabilities | -3,194,355 | -3,145,136 | -2,952,916 | -2,868,323 | -3,086,691 | -2,976,836 | -3,063,168 | -3,526,860 | -3,217,601 | -2,835,319 | -2,456,490 | -1,677,858 |
Variable Interest Entities and Subsidiary [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Current assets | 1,282,054 | 1,253,672 | 1,129,402 | 1,129,118 | 1,285,967 | 1,244,486 | 1,409,756 | 1,857,257 | 1,674,171 | 1,508,221 | 1,203,128 | 1,087,108 |
Plant and equipment, net | 1,262,144 | 1,239,805 | 1,203,026 | 1,160,089 | 1,154,811 | 1,160,515 | 1,178,383 | 1,189,687 | 1,217,264 | 1,172,982 | 1,150,732 | 553,688 |
Other noncurrent assets | 29,014 | 44,475 | 39,291 | 80,424 | 72,428 | 29,665 | 37,851 | 36,069 | 45,836 | 42,995 | 44,641 | 54,099 |
Total assets | 2,573,212 | 2,537,952 | 2,371,719 | 2,369,631 | 2,513,206 | 2,434,666 | 2,625,990 | 3,083,013 | 2,937,271 | 2,724,198 | 2,398,501 | 1,694,895 |
Total liabilities | -3,040,879 | -3,006,938 | -2,852,083 | -2,784,151 | -2,943,761 | -2,827,446 | -2,952,712 | -3,370,233 | -3,131,823 | -2,720,490 | -2,369,035 | -1,612,925 |
Net liabilities | ($467,667) | ($468,986) | ($480,364) | ($415,520) | ($430,555) | ($392,780) | ($326,722) | ($287,220) | ($194,552) | $3,708 | $29,466 | $81,970 |
Summary_of_significant_account5
Summary of significant accounting policies (Details 2) (USD $) | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Dec. 31, 2010 |
In Thousands, unless otherwise specified | ||||||||||||
CURRENT LIABILITIES: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Short term notes payable | $1,017,830 | $987,988 | $813,521 | $785,519 | $983,813 | $867,769 | $910,662 | $1,248,235 | $1,113,504 | $554,931 | $345,657 | $480,152 |
Accounts payable | 434,979 | 495,488 | 407,683 | 411,776 | 352,052 | 338,812 | 362,692 | 282,613 | 413,345 | 404,960 | 326,420 | 241,367 |
Accounts payable - related parties | 235,692 | 172,259 | 172,306 | 154,492 | 177,432 | 117,662 | 116,683 | 190,063 | 121,828 | 114,309 | 127,798 | 79,694 |
Short term loans - bank | 301,917 | 254,929 | 208,731 | 117,124 | 147,124 | 139,752 | 199,421 | 318,662 | 253,954 | 402,428 | 311,697 | 285,198 |
Short term loans - others | 62,067 | 130,170 | 151,245 | 148,023 | 147,323 | 212,720 | 240,125 | 299,707 | 246,657 | 227,198 | 205,190 | 127,712 |
Short term loans - related parties | 126,693 | 48,889 | 81,975 | 104,390 | 79,557 | 82,069 | 81,524 | 82,992 | 15,710 | 15,650 | 15,637 | 14,548 |
Current maturities of long-term loans - related party | 53,013 | 47,896 | 48,014 | 59,984 | 54,885 | 49,997 | 0 | 0 | 0 | ' | ' | 0 |
Other payables and accrued liabilities | 45,653 | 52,272 | 60,775 | 56,785 | 54,589 | 74,582 | 44,643 | 34,461 | 49,538 | 37,962 | 36,009 | 30,087 |
Other payables - related parties | 94,079 | 106,153 | 101,268 | 82,232 | 73,025 | 118,585 | 132,948 | 95,032 | 28,873 | 14,905 | 18,216 | 18,214 |
Customer deposits | 87,860 | 95,695 | 122,339 | 104,609 | 125,890 | 81,761 | 88,938 | 80,669 | 90,556 | 192,153 | 175,295 | 133,464 |
Customer deposits - related parties | 64,881 | 14,512 | 7,798 | 12,649 | 21,998 | 83,518 | 39,134 | 57,403 | 68,277 | 54,385 | 65,806 | 54,922 |
Deposit due to sales representatives | 24,343 | 28,184 | 30,800 | 40,484 | 33,870 | 34,987 | 30,602 | 33,534 | 22,890 | 21,488 | 23,660 | 51,624 |
Taxes payable | 4,628 | 9,716 | 10,310 | 12,334 | 16,674 | 6,498 | 6,921 | 5,355 | 11,374 | 12,020 | 12,690 | 6,237 |
Deferred lease income | 2,187 | 2,178 | 2,164 | 2,132 | 2,120 | 2,115 | 2,117 | 2,116 | 2,099 | 2,091 | 2,067 | 1,971 |
Capital lease obligations, current | 4,321 | ' | ' | ' | 0 | ' | ' | ' | 25,607 | 18,505 | 11,552 | 0 |
Total current liabilities | 2,562,140 | 2,448,138 | 2,220,727 | 2,094,305 | 2,271,590 | 2,212,120 | 2,257,649 | 2,732,101 | 2,465,155 | 2,072,985 | 1,677,694 | 1,525,645 |
Non-current liabilities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long term loans - related parties | 19,644 | 24,450 | 29,160 | 33,516 | 38,088 | 42,741 | 92,856 | 92,797 | 92,035 | 107,695 | 134,566 | 91,020 |
Long-term other payable - related party | 0 | 0 | 0 | 43,252 | 43,008 | ' | ' | ' | 0 | ' | ' | 0 |
Deferred lease income - noncurrent | 75,257 | 75,480 | 75,558 | 74,971 | 75,079 | 75,418 | 76,043 | 76,524 | 76,425 | 76,358 | 76,282 | 55,620 |
Capital lease obligations | 375,019 | 354,576 | 347,290 | 337,075 | 330,099 | 324,171 | 319,446 | 314,080 | 280,743 | 281,510 | 282,895 | 0 |
Profit sharing liability at fair value | 162,295 | 241,090 | 278,788 | 283,831 | 328,827 | 322,386 | 317,174 | 311,358 | 303,233 | 296,723 | 284,871 | 0 |
Other noncurrent liabilities | ' | 1,402 | 1,393 | 1,373 | 0 | ' | ' | ' | ' | ' | ' | ' |
Total non-current liabilities | 632,215 | 696,998 | 732,189 | 774,018 | 815,101 | 764,716 | 805,519 | 794,759 | 752,446 | 762,334 | 778,796 | 152,213 |
Total liabilities of consolidated VIE | 3,194,355 | 3,145,136 | 2,952,916 | 2,868,323 | 3,086,691 | 2,976,836 | 3,063,168 | 3,526,860 | 3,217,601 | 2,835,319 | 2,456,490 | 1,677,858 |
Variable Interest Entities and Subsidiary [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
CURRENT LIABILITIES: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Short term notes payable | 988,364 | 950,498 | 792,234 | 785,296 | 971,117 | 855,105 | 897,982 | 1,227,564 | 1,105,570 | 548,671 | 321,782 | 447,992 |
Accounts payable | 393,816 | 466,631 | 395,962 | 386,434 | 324,563 | 296,300 | 353,215 | 253,936 | 401,158 | 339,163 | 292,834 | 230,753 |
Accounts payable - related parties | 235,116 | 171,759 | 171,806 | 154,146 | 177,160 | 117,601 | 116,479 | 156,738 | 81,403 | 62,958 | 102,771 | 56,742 |
Short term loans - bank | 267,688 | 215,955 | 174,252 | 84,753 | 114,935 | 102,895 | 160,162 | 277,136 | 209,234 | 369,225 | 277,053 | 260,977 |
Short term loans - others | 55,844 | 123,974 | 145,086 | 141,956 | 141,290 | 206,702 | 234,099 | 293,686 | 240,684 | 221,249 | 84,018 | 113,328 |
Short term loans - related parties | 125,236 | 42,613 | 68,879 | 97,766 | 35,839 | 45,506 | 15,892 | 31,682 | 15,710 | 15,650 | 15,637 | 14,548 |
Current maturities of long-term loans - related party | 56,614 | 56,372 | 56,026 | 55,196 | 54,885 | 49,997 | ' | 0 | 0 | ' | ' | 0 |
Other payables and accrued liabilities | 37,028 | 43,978 | 41,372 | 38,490 | 29,769 | 34,379 | 35,140 | 25,819 | 31,249 | 27,693 | 27,545 | 27,932 |
Other payables - related parties | 88,914 | 96,901 | 91,623 | 67,261 | 64,941 | 105,402 | 120,104 | 85,053 | 20,677 | 5,937 | 9,368 | 2,132 |
Customer deposits | 87,661 | 94,767 | 121,736 | 104,328 | 109,120 | 80,219 | 88,172 | 75,495 | 84,767 | 190,440 | 287,882 | 129,832 |
Customer deposits - related parties | 18,359 | 14,512 | 7,798 | 12,649 | 21,998 | 83,233 | 39,134 | 49,483 | 66,932 | 53,045 | 64,482 | 53,624 |
Deposit due to sales representatives | 24,343 | 28,184 | 30,800 | 40,484 | 33,870 | 34,987 | 30,602 | 33,534 | 22,890 | 21,488 | 23,660 | 52,079 |
Deposit due to sales representatives - related parties | 1,997 | 1,809 | 1,798 | 1,772 | 1,238 | 1,235 | 1,236 | 1,236 | 0 | ' | ' | 0 |
Taxes payable | 3,357 | 8,258 | 9,050 | 11,106 | 15,339 | 5,472 | 5,583 | 4,478 | 5,386 | 10,604 | 11,188 | 5,159 |
Deferred lease income | 2,187 | 2,178 | 2,164 | 2,132 | 2,120 | 2,115 | 2,117 | 2,116 | 2,099 | 2,091 | 2,067 | 1,971 |
Capital lease obligations, current | 4,321 | ' | ' | ' | 0 | 324,171 | 319,446 | 314,080 | 25,607 | 18,505 | 11,552 | 0 |
Intercompany payable to be eliminated | 21,420 | 0 | 17,320 | 21,576 | 30,476 | 41,582 | 47,276 | 57,518 | 66,021 | 71,485 | 58,582 | 69,216 |
Total current liabilities | 2,412,265 | 2,318,416 | 2,127,906 | 2,005,345 | 2,128,660 | 2,062,730 | 2,147,193 | 2,575,474 | 2,379,387 | 1,958,204 | 1,590,421 | 1,466,285 |
Non-current liabilities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long term loans - related parties | 16,043 | 15,974 | 21,148 | 38,304 | 38,088 | 42,741 | 92,856 | 92,797 | 92,035 | 107,695 | 134,566 | 91,020 |
Long-term other payable - related party | 0 | 0 | 0 | 43,252 | 43,008 | ' | ' | ' | 0 | ' | ' | 0 |
Deferred lease income - noncurrent | 75,257 | 75,480 | 75,558 | 74,971 | 75,079 | 75,418 | 76,043 | 76,524 | 76,425 | 76,358 | 76,282 | 55,620 |
Capital lease obligations | 375,019 | 354,576 | 347,290 | 337,075 | 330,099 | ' | ' | ' | 280,743 | 281,510 | 282,895 | 0 |
Profit sharing liability at fair value | 162,295 | 241,090 | 278,788 | 283,831 | 328,827 | 322,386 | 317,174 | 311,358 | 303,233 | 296,723 | 284,871 | 0 |
Other noncurrent liabilities | ' | 1,402 | 1,393 | 1,373 | 0 | ' | ' | ' | ' | ' | ' | ' |
Total non-current liabilities | 628,614 | 688,522 | 724,177 | 778,806 | 815,101 | 764,716 | 805,519 | 794,759 | 752,436 | 762,286 | 778,614 | 146,640 |
Total liabilities of consolidated VIE | $3,040,879 | $3,006,938 | $2,852,083 | $2,784,151 | $2,943,761 | $2,827,446 | $2,952,712 | $3,370,233 | $3,131,823 | $2,720,490 | $2,369,035 | $1,612,925 |
Summary_of_significant_account6
Summary of significant accounting policies (Details 3) (USD $) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||||||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Sep. 30, 2010 | Jun. 30, 2010 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2011 | Jun. 30, 2010 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sales | $514,549 | $517,350 | $502,431 | $518,542 | $538,986 | $383,797 | $662,437 | $814,599 | $501,479 | $340,703 | $383,173 | $1,019,781 | $922,783 | $1,316,078 | $700,801 | $1,534,330 | $1,441,325 | $1,978,515 | $1,041,504 | $2,016,548 | $1,966,391 | $2,452,127 | $1,392,770 |
Gross (loss) profit | 8,231 | -35,536 | 4,067 | -13,596 | 28,044 | 5,630 | 34,050 | 23,340 | 5,049 | 13,589 | 7,364 | -31,469 | 33,674 | 28,389 | 13,110 | -23,238 | 20,078 | 62,439 | 26,699 | -55,938 | 32,119 | -88,214 | 31,415 |
Income (loss) from operations | 27,734 | -46,890 | 31,891 | -41,994 | 2,292 | -18,629 | 4,334 | -7,029 | -9,452 | 4,029 | -6,313 | -14,999 | -16,337 | -16,481 | -12,703 | 12,735 | -58,331 | -12,147 | -8,674 | 34,405 | -95,457 | -194,088 | -21,162 |
Net income (loss) attributable to controlling interest | 3,801 | -39,818 | 3,103 | -41,598 | -26,377 | -34,784 | -13,830 | -22,915 | -8,917 | -3,784 | -2,004 | -36,715 | -61,161 | -31,832 | -7,616 | -32,914 | -102,759 | -45,662 | -11,400 | -33,016 | -152,697 | -177,187 | -30,006 |
Variable Interest Entities and Subsidiary [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sales | 606,444 | 650,741 | 646,748 | 708,974 | 774,306 | 643,276 | 986,938 | 1,056,675 | 709,305 | 455,028 | 499,361 | 1,297,489 | 1,417,582 | 1,765,980 | 934,187 | 1,903,933 | 2,126,556 | 2,752,918 | 1,389,215 | 2,450,256 | 2,837,608 | ' | ' |
Gross (loss) profit | 8,122 | -36,193 | 4,367 | -18,417 | 25,770 | 5,275 | 29,400 | 22,300 | 4,518 | 14,304 | 8,120 | -31,826 | 31,045 | 26,818 | 14,146 | -23,704 | 12,628 | 56,215 | 28,450 | -56,065 | 29,512 | ' | ' |
Income (loss) from operations | 30,306 | -44,685 | 34,937 | -42,611 | 2,903 | -17,224 | 1,773 | 138 | -7,508 | 6,734 | -1,046 | -9,748 | -14,321 | -7,370 | -4,828 | 20,558 | -56,932 | -5,599 | 1,905 | 45,161 | -68,081 | ' | ' |
Net income (loss) attributable to controlling interest | $8,284 | ($34,944) | $8,325 | ($39,494) | ($23,132) | ($30,348) | ($14,766) | ($19,707) | ($10,178) | ($1,351) | ($7,472) | ($26,619) | ($53,480) | ($29,885) | ($14,562) | ($18,335) | ($92,974) | ($44,654) | ($15,913) | ($16,457) | ($114,936) | ' | ' |
Summary_of_significant_account7
Summary of significant accounting policies (Details 4) (USD $) | 9 Months Ended | 12 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2013 |
Summary Of Significant Accounting Policies [Line Items] | ' | ' |
Amount of Line of Credit | $110.80 | $230.70 |
Bank Of China [Member] | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' |
Amount of Line of Credit | 6.5 | ' |
Repayment Date | 'August 25, 2014 to October 26, 2014 | ' |
China Everbright Bank [Member] | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' |
Amount of Line of Credit | 48.9 | ' |
Repayment Date | 'October 8, 2014 | ' |
Bank Of Xian [Member] | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' |
Amount of Line of Credit | 32.6 | ' |
Repayment Date | 'October 9, 2014 | ' |
Bank of Chongqing [Member] | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' |
Amount of Line of Credit | ' | 49.1 |
Repayment Date | ' | 23-Mar-15 |
Industrial Bank Co., Ltd [Member] | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' |
Amount of Line of Credit | ' | 49.1 |
Repayment Date | ' | 5-May-15 |
China Merchant Bank [Member] | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' |
Amount of Line of Credit | ' | 49.1 |
Repayment Date | ' | 19-May-15 |
China CITIC Bank [Member] | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' |
Amount of Line of Credit | ' | 32.7 |
Repayment Date | ' | 16-Jun-15 |
Bank Of Communication [Member] | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' |
Amount of Line of Credit | ' | 18 |
Repayment Date | ' | 17-Jul-15 |
Bank Of Jinzhou [Member] | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' |
Amount of Line of Credit | $22.80 | $32.70 |
Repayment Date | ' | 23-Mar-15 |
Repayment Date | 'September 27, 2014 | ' |
Summary_of_significant_account8
Summary of significant accounting policies (Details 5) (USD $) | 9 Months Ended | 12 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2013 | Jan. 06, 2013 |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Financing Amount | $110.80 | $230.70 | ' |
Vendor Financing [Member] | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Financing Amount | 815 | 818.5 | ' |
Vendor Financing [Member] | Company A [Member] | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Financing Amount | 163 | 163.7 | 81.9 |
Financing period covered | 'January 6, 2013 – January 5, 2015 | 'July 1, 2013 – June 30, 2015 | ' |
Vendor Financing [Member] | Company B [Member] | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Financing Amount | 163 | 163.7 | ' |
Financing period covered | 'January 6, 2013 – November 7, 2015 | 'January 22, 2014 – January 22, 2017 | ' |
Vendor Financing [Member] | Company C [Member] | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Financing Amount | $489 | $491.10 | ' |
Financing period covered | 'October 1, 2013 – March 31, 2015 | 'October 1, 2013 – March 31, 2015 | ' |
Summary_of_significant_account9
Summary of significant accounting policies (Details 6) (Other Financing [Member], USD $) | 9 Months Ended | 12 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2013 |
Summary Of Significant Accounting Policies [Line Items] | ' | ' |
Financing Amount | $77.40 | $217.70 |
Company D [Member] | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' |
Financing Amount | ' | 32.7 |
Financing period covered | ' | 'February 20, 2014 – February 20, 2017 |
Company E [Member] | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' |
Financing Amount | 16.3 | 37.7 |
Financing period covered | 'January 7, 2013 – January 6, 2015 | 'February 20, 2014 – February 20, 2017 |
Company F [Member] | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' |
Financing Amount | 21.2 | 32.7 |
Financing period covered | 'January 7, 2013 – January 6, 2015 | 'February 20, 2014 – February 20, 2017 |
Company G [Member] | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' |
Financing Amount | 7.3 | 57.3 |
Financing period covered | 'January 7, 2013 – January 6, 2015 | 'March 5, 2014 – March 5, 2016 |
Company H [Member] | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' |
Financing Amount | 16.3 | 57.3 |
Financing period covered | 'November 7, 2013 – November 7, 2015 | 'March 5, 2014 – March 5, 2016 |
Company I [Member] | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' |
Financing Amount | $16.30 | ' |
Financing period covered | 'November 6, 2013 – November 6, 2015 | ' |
Recovered_Sheet1
Summary of significant accounting policies (Details 7) (USD $) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||||
Mar. 31, 2013 | Mar. 31, 2012 | Mar. 31, 2011 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2011 | Jun. 30, 2010 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2014 | Sep. 30, 2014 | |
Scenario, Forecast [Member] | Scenario, Forecast [Member] | ||||||||||||||||
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Current liabilities over current assets (excluding non-cash items) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ($1,179,200,000) | ($1,072,000,000) |
Projected cash financing and outflows: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash provided by line of credit from banks | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 230,700,000 | 110,800,000 |
Cash provided by vendor financing | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 818,500,000 | 815,000,000 |
Cash provided by financing sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 81,500,000 |
Cash provided by other financing | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 217,700,000 | 77,400,000 |
Cash provided by sales representatives | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 26,300,000 | 30,000,000 |
Cash projected to be used in operations in the twelve months ended December 31, 2014 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -35,400,000 | ' |
Cash projected to be used for financing cost in the twelve months ended December 31, 2014 | 30,902,000 | -133,112,000 | -15,290,000 | -102,242,000 | -98,416,000 | -15,412,000 | -117,594,000 | -146,606,000 | -123,163,000 | -42,670,000 | -56,678,000 | -105,792,000 | -63,764,000 | -302,669,000 | -88,337,000 | -55,200,000 | ' |
Net projected change in cash | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 23,400,000 | 14,100,000 |
Cash projected to be used in operations | $3,850,000 | ($167,024,000) | $54,118,000 | ($61,436,000) | ($99,581,000) | ($8,469,000) | ($45,403,000) | $14,043,000 | ($90,114,000) | $87,167,000 | ($103,129,000) | ($163,924,000) | ($5,236,000) | $33,382,000 | ($162,813,000) | ' | ($28,600,000) |
Recovered_Sheet2
Summary of significant accounting policies (Details 8) (USD $) | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Dec. 31, 2010 | Dec. 30, 2010 | Dec. 31, 2009 |
In Thousands, unless otherwise specified | ||||||||||||||
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative liabilities | $0 | ' | ' | ' | $0 | $58 | $3 | $23 | $10 | $48 | $182 | $5,573 | ' | ' |
Profit sharing liability | 162,295 | 241,090 | 278,788 | 283,831 | 328,827 | 322,386 | 317,174 | 311,358 | 303,233 | 296,723 | 284,871 | 0 | ' | ' |
Total | 162,295 | 241,090 | 278,788 | 283,831 | 328,828 | 322,444 | 317,177 | 311,381 | 303,243 | 296,771 | 285,053 | 5,573 | 5,573 | 24,390 |
Fair Value, Inputs, Level 1 [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative liabilities | ' | ' | ' | ' | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ' | ' |
Profit sharing liability | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ' | ' | ' |
Total | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ' | ' | ' |
Fair Value, Inputs, Level 2 [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative liabilities | ' | ' | ' | ' | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ' | ' |
Profit sharing liability | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ' | ' | ' |
Total | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ' | ' | ' |
Fair Value, Inputs, Level 3 [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative liabilities | ' | ' | ' | ' | 1 | 58 | 3 | 23 | 10 | 48 | 182 | 5,573 | ' | ' |
Profit sharing liability | 162,295 | 241,090 | 278,788 | 283,831 | 328,827 | 322,386 | 317,174 | 311,358 | 303,233 | 296,723 | 284,871 | ' | ' | ' |
Total | $162,295 | $241,090 | $278,788 | $283,831 | $328,828 | $322,444 | $317,177 | $311,381 | $303,243 | $296,771 | $285,053 | ' | ' | ' |
Recovered_Sheet3
Summary of significant accounting policies (Details 9) (USD $) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Sep. 30, 2010 | Jun. 30, 2010 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2011 | Jun. 30, 2010 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 30, 2010 | Dec. 31, 2010 |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Beginning balance | $278,788 | $283,831 | $328,828 | $317,177 | $311,381 | $303,243 | $285,053 | ' | $5,573 | ' | ' | $328,828 | $303,243 | $5,573 | $24,390 | $328,828 | $303,243 | $5,573 | $24,390 | $328,828 | $303,243 | $5,573 | $24,390 | $24,390 |
Initial measurement and recognition of the 40% profit sharing liability | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | 0 | 280,857 | ' | 241,100 | 0 | 280,857 | ' | 162,300 | ' | 280,857 | 0 | ' |
Change in estimate of future operating profits | ' | ' | -51,892 | ' | ' | 0 | ' | ' | ' | ' | ' | -63,537 | 0 | 0 | ' | -99,170 | 0 | 0 | ' | ' | 0 | 0 | 0 | ' |
Change in discount rate | ' | ' | 0 | ' | ' | 0 | ' | ' | ' | ' | ' | 0 | 0 | 0 | ' | 0 | 0 | 0 | ' | ' | 0 | 0 | 0 | ' |
Interest expense - present value discount amortization | ' | ' | 5,113 | ' | ' | 5,630 | ' | ' | ' | ' | ' | 9,779 | 11,250 | 3,336 | ' | 12,440 | 16,860 | 8,743 | ' | ' | 22,499 | 14,047 | 0 | ' |
Difference between the previously estimated operating results for the current period and actual results | ' | ' | 0 | ' | ' | 0 | ' | ' | ' | ' | ' | -2,515 | 0 | 0 | ' | -8,707 | 0 | 0 | ' | ' | 0 | 0 | 0 | ' |
Current period interest expense accreted | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | 0 | ' | ' | ' | ' | 389 | ' |
Change of derivative liabilities charged to earnings | 0 | 0 | -1 | -55 | 20 | -13 | 135 | 1,839 | 3,552 | -1,089 | 10,729 | 1 | 7 | 5,391 | 14,668 | 1 | -48 | 5,526 | 13,579 | 1 | 9 | 5,563 | -15,055 | 15,055 |
Exchange rate effect | ' | ' | 1,783 | ' | ' | 2,495 | ' | ' | ' | ' | ' | 6,232 | 2,691 | 678 | ' | 7,698 | 2,293 | 7,124 | ' | ' | 3,077 | 8,329 | ' | ' |
Ending balance | $241,090 | $278,788 | $283,831 | $322,444 | $317,177 | $311,381 | $296,771 | $285,053 | ' | ' | ' | $278,788 | $317,177 | $285,053 | ' | $241,090 | $322,444 | $296,771 | ' | $162,295 | $328,828 | $303,243 | $5,573 | $5,573 |
Recovered_Sheet4
Summary of significant accounting policies (Details 10) | 12 Months Ended |
Dec. 31, 2013 | |
Buildings and Improvements [Member] | Maximum [Member] | ' |
Summary Of Significant Accounting Policies [Line Items] | ' |
Property, Plant and Equipment, Useful Life | '40 years |
Buildings and Improvements [Member] | Minimum [Member] | ' |
Summary Of Significant Accounting Policies [Line Items] | ' |
Property, Plant and Equipment, Useful Life | '10 years |
Machinery [Member] | Maximum [Member] | ' |
Summary Of Significant Accounting Policies [Line Items] | ' |
Property, Plant and Equipment, Useful Life | '30 years |
Machinery [Member] | Minimum [Member] | ' |
Summary Of Significant Accounting Policies [Line Items] | ' |
Property, Plant and Equipment, Useful Life | '10 years |
Machinery and equipment under capital lease [Member] | Maximum [Member] | ' |
Summary Of Significant Accounting Policies [Line Items] | ' |
Property, Plant and Equipment, Useful Life | '20 years |
Machinery and equipment under capital lease [Member] | Minimum [Member] | ' |
Summary Of Significant Accounting Policies [Line Items] | ' |
Property, Plant and Equipment, Useful Life | '10 years |
Other equipment [Member] | ' |
Summary Of Significant Accounting Policies [Line Items] | ' |
Property, Plant and Equipment, Useful Life | '5 years |
Transportation Equipment [Member] | ' |
Summary Of Significant Accounting Policies [Line Items] | ' |
Property, Plant and Equipment, Useful Life | '5 years |
Recovered_Sheet5
Summary of significant accounting policies (Details 11) (USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2013 |
General Steel (China) [Member] | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' |
Original Cost | $3,867 | $3,884 |
Expires on | '2050 & 2053 | '2050 & 2053 |
Longmen Joint Venture [Member] | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' |
Original Cost | 24,226 | 24,283 |
Expires on | '2048 & 2052 | '2048 & 2052 |
Maoming Hengda [Member] | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' |
Original Cost | $2,705 | $2,717 |
Expires on | '2054 | '2054 |
Recovered_Sheet6
Summary of significant accounting policies (Details 12) (USD $) | 9 Months Ended | 12 Months Ended | ||||||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Dec. 31, 2013 | Dec. 31, 2011 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Jun. 30, 2011 | Dec. 31, 2010 |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net investment | $1,161 | $1,027 | $10,522 | $16,943 | $12,840 | $1,106 | $958 | $1,166 | $984 | $904 | $9,807 | $17,456 |
Owned Percentage | 60.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shaanxi Daxigou Mining Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Year acquired | ' | '2004 | '2004 | ' | '2004 | ' | ' | ' | ' | ' | ' | ' |
Net investment | ' | 0 | 6,134 | ' | 8,304 | ' | ' | ' | 0 | 0 | 5,568 | 4,779 |
Owned Percentage | ' | 0.00% | 22.10% | ' | 22.10% | ' | ' | ' | 0.00% | 0.00% | 22.10% | 22.10% |
Shaanxi Xinglong Thermoelectric Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Year acquired | ' | ' | '2004-2007 | ' | '2004-2007 | ' | ' | ' | ' | ' | ' | ' |
Net investment | ' | ' | 0 | ' | 0 | ' | ' | ' | ' | ' | 0 | 8,534 |
Owned Percentage | ' | ' | 0.00% | ' | 0.00% | ' | ' | ' | ' | ' | 0.00% | 20.70% |
Huashan Metallurgical Equipment Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Year acquired | ' | '2003 | '2003 | ' | '2003 | ' | ' | ' | ' | ' | ' | ' |
Net investment | ' | 0 | 2,998 | ' | 3,067 | ' | ' | ' | 0 | 0 | 3,009 | 2,907 |
Owned Percentage | ' | 0.00% | 25.00% | ' | 25.00% | ' | ' | ' | 0.00% | 0.00% | 25.00% | 25.00% |
Shaanxi Long Steel Group Baoji Steel Rolling Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Year acquired | ' | '2003 | '2003 | ' | '2003 | ' | ' | ' | ' | ' | ' | ' |
Net investment | ' | 0 | 376 | ' | 428 | ' | ' | ' | 0 | 0 | 235 | 0 |
Owned Percentage | ' | 0.00% | 23.80% | ' | 23.80% | ' | ' | ' | 0.00% | 0.00% | 23.80% | 25.00% |
Xiban Delong Powder Engineering Materials Co., Ltd.[Memebr] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Year acquired | '2007 | '2007 | '2007 | '2007 | '2007 | ' | ' | ' | ' | ' | ' | ' |
Net investment | 1,161 | 1,027 | 1,014 | 1,215 | 1,041 | 1,106 | 958 | 1,166 | 984 | 904 | 995 | 1,236 |
Owned Percentage | 24.10% | 24.10% | 24.10% | 24.10% | 24.10% | ' | ' | 24.10% | 24.10% | 24.10% | 24.10% | 27.00% |
Tianwu General Steel Material Trading Co., Ltd.[Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Year acquired | ' | ' | ' | '2010 | ' | ' | ' | ' | ' | ' | ' | ' |
Net investment | ' | ' | ' | $15,728 | ' | ' | ' | $1,064 | ' | ' | ' | ' |
Owned Percentage | ' | ' | ' | 32.00% | ' | ' | ' | 32.00% | ' | ' | ' | ' |
Recovered_Sheet7
Summary of significant accounting policies (Details Textual) | 0 Months Ended | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 12 Months Ended | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | 12 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 12 Months Ended | 1 Months Ended | 0 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Mar. 01, 2012 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Sep. 30, 2010 | Jun. 30, 2010 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2011 | Jun. 30, 2010 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2010 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 30, 2010 | Dec. 31, 2010 | Nov. 19, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2011 | Jun. 30, 2011 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Sep. 30, 2010 | Jun. 30, 2010 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2011 | Jun. 30, 2010 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Sep. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2011 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Mar. 31, 2013 | Mar. 31, 2012 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2011 | Sep. 30, 2012 | Sep. 30, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 30, 2010 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Jan. 06, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Sep. 28, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Sep. 30, 2013 | Nov. 19, 2013 | Nov. 19, 2013 | Mar. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Oct. 01, 2013 | Apr. 29, 2011 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Mar. 01, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Mar. 01, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Apr. 30, 2011 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Apr. 30, 2011 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2013 | Nov. 19, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Mar. 01, 2012 | Nov. 19, 2013 | Aug. 16, 2013 | Dec. 31, 2011 | Dec. 31, 2011 | |
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | CNY | USD ($) | CNY | USD ($) | USD ($) | USD ($) | Criteria One [Member] | Criteria One [Member] | Criteria Two [Member] | Maximum [Member] | Maximum [Member] | Minimum [Member] | Minimum [Member] | Mining Rights [Member] | Mining Rights [Member] | Mining Rights [Member] | Mining Rights [Member] | Five Customers [Member] | Five Customers [Member] | Five Customers [Member] | Five Customers [Member] | Five Customers [Member] | Five Customers [Member] | Five Customers [Member] | Five Customers [Member] | Five Customers [Member] | Five Customers [Member] | Five Customers [Member] | Five Customers [Member] | Five Customers [Member] | Five Customers [Member] | Five Customers [Member] | Five Customers [Member] | Five Customers [Member] | Five Customers [Member] | Five Customers [Member] | Five Customers [Member] | Five Customers [Member] | Five Customers [Member] | Five Customers [Member] | Five Customers [Member] | Five Customers [Member] | Five Customers [Member] | Five Customers [Member] | Five Customers [Member] | Five Customers [Member] | Five Customers [Member] | Five Customers [Member] | Five Customers [Member] | Five Customers [Member] | Five Customers [Member] | Five Customers [Member] | One Customer [Member] | One Customer [Member] | One Customer [Member] | One Customer [Member] | One Customer [Member] | One Customer [Member] | One Customer [Member] | One Customer [Member] | One Customer [Member] | One Customer [Member] | Five Suppliers [Member] | Five Suppliers [Member] | Five Suppliers [Member] | Five Suppliers [Member] | Five Suppliers [Member] | Five Suppliers [Member] | Five Suppliers [Member] | Five Suppliers [Member] | Five Suppliers [Member] | Five Suppliers [Member] | One Of Five Major Supplier [Member] | One Of Five Major Supplier [Member] | One Of Five Major Supplier [Member] | Vendor Financing [Member] | Vendor Financing [Member] | Five vendors [Member] | Five vendors [Member] | Five vendors [Member] | Five vendors [Member] | Company E [Member] | Company E [Member] | Company A [Member] | Company A [Member] | Company A [Member] | Company A [Member] | Company A [Member] | Company B [Member] | Company B [Member] | Company B [Member] | Company B [Member] | Company D [Member] | Company D [Member] | Company F [Member] | Company F [Member] | Company G [Member] | Company G [Member] | Company H [Member] | Company H [Member] | Company C [Member] | Company C [Member] | Company C [Member] | Company C [Member] | Shaanxi Coal and Chemical Industry Group Co Ltd [Member] | Shaanxi Coal and Chemical Industry Group Co Ltd [Member] | Shaanxi Coal and Chemical Industry Group Co Ltd [Member] | Shaanxi Coal and Chemical Industry Group Co Ltd [Member] | Shaanxi Coal and Chemical Industry Group Co Ltd [Member] | Shaanxi Coal and Chemical Industry Group Co Ltd [Member] | Shaanxi Coal and Chemical Industry Group Co Ltd [Member] | Company I [Member] | Tianjin Dazhan Industry Co Ltd [Member] | Tianjin Dazhan Industry Co Ltd [Member] | Longmen Joint Venture [Member] | Longmen Joint Venture [Member] | Longmen Joint Venture [Member] | Longmen Joint Venture [Member] | Longmen Joint Venture [Member] | Longmen Joint Venture [Member] | Longmen Joint Venture [Member] | Longmen Joint Venture [Member] | Yuxin Trading Co Ltd [Member] | Yuxin Trading Co Ltd [Member] | Yuteng Trading Co Ltd [Member] | Hualong [Member] | Hualong [Member] | Hualong [Member] | Hualong [Member] | Hualong [Member] | Hualong [Member] | Tongxing [Member] | Tongxing [Member] | Huatianyulong [Member] | Huatianyulong [Member] | Huatianyulong [Member] | General Steel Investment Co Ltd [Member] | General Steel Investment Co Ltd [Member] | General Steel Investment Co Ltd [Member] | General Steel Investment Co Ltd [Member] | Maoming Hengda Steel Company Ltd [Member] | Maoming Hengda Steel Company Ltd [Member] | Maoming Hengda Steel Company Ltd [Member] | Maoming Hengda Steel Company Ltd [Member] | Shaanxi Xinglong Thermoelectric Co Ltd [Member] | Shaanxi Xinglong Thermoelectric Co Ltd [Member] | Shaanxi Xinglong Thermoelectric Co Ltd [Member] | Shaanxi Xinglong Thermoelectric Co Ltd [Member] | Shaanxi Xinglong Thermoelectric Co Ltd [Member] | Shaanxi Xinglong Thermoelectric Co Ltd [Member] | Baotou Iron and Steel Group [Member] | Yangpu Shengtong Investment Co Ltd [Member] | Yangpu Shengtong Investment Co Ltd [Member] | Yangpu Shengtong Investment Co Ltd [Member] | Tianjin Qiu Steel Investment Co Ltd [Member] | Tianjin Qiu Steel Investment Co Ltd [Member] | Tianwu General Steel Material Trading Co Ltd [Member] | Tianwu General Steel Material Trading Co Ltd [Member] | Hancheng Tongxing Metallurgy Co Ltd [Member] | Tianwu Joint Venture [Member] | Tianwu Joint Venture [Member] | Shaanxi Iron and Steel Group [Member] | Shaanxi Iron and Steel Group [Member] | |||
USD ($) | USD ($) | USD ($) | CNY | USD ($) | CNY | Sales [Member] | Sales [Member] | Sales [Member] | Sales [Member] | Sales [Member] | Sales [Member] | Sales [Member] | Sales [Member] | Sales [Member] | Sales [Member] | Sales [Member] | Sales [Member] | Sales [Member] | Sales [Member] | Sales [Member] | Sales [Member] | Sales [Member] | Sales [Member] | Sales [Member] | Sales [Member] | Sales [Member] | Sales [Member] | Sales [Member] | Sales [Member] | Sales [Member] | Sales [Member] | Sales [Member] | Sales [Member] | Sales [Member] | Sales [Member] | Sales [Member] | Sales [Member] | Sales [Member] | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Vendor Financing [Member] | Vendor Financing [Member] | Vendor Financing [Member] | USD ($) | USD ($) | Vendor Financing [Member] | Vendor Financing [Member] | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Vendor Financing [Member] | Vendor Financing [Member] | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | CNY | USD ($) | CNY | USD ($) | CNY | USD ($) | Company D [Member] | Shareholder One [Member] | Shareholder One [Member] | Shareholder Two [Member] | Shareholder Two [Member] | USD ($) | CNY | USD ($) | CNY | USD ($) | CNY | USD ($) | CNY | USD ($) | CNY | USD ($) | USD ($) | CNY | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity Method Investment, Ownership Percentage | ' | 60.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 60.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 60.00% | 60.00% | 60.00% | 60.00% | ' | 60.00% | ' | 100.00% | 100.00% | 100.00% | 36.00% | 36.00% | 34.67% | 34.67% | 29.33% | 29.33% | 22.76% | 22.76% | ' | 50.00% | 50.00% | 100.00% | 100.00% | 100.00% | 100.00% | 99.00% | 99.00% | 99.00% | 99.00% | ' | 0.00% | 0.00% | 0.00% | ' | 20.70% | ' | 99.10% | ' | 99.10% | 98.70% | 98.70% | 32.00% | 32.00% | ' | ' | 60.00% | ' | ' |
Working Capital | ' | $1,100,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,100,000,000 | ' | ' | ' | $1,200,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 40.00% | 40.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 77.24% | 77.24% | 50.00% | ' | ' | ' | ' | ' | ' | 1.00% | 1.00% | ' | ' | ' | 20.70% | ' | ' | ' | ' | 20.00% | 0.90% | ' | ' | 1.30% | ' | ' | ' | ' | ' | ' | ' | ' |
Debt To Equity Ratio | ' | 6.6 | 5.9 | 6.7 | 8.1 | 10.1 | 13.6 | 56.1 | 33 | ' | ' | ' | 5.9 | 10.1 | 33 | ' | 6.6 | 8.1 | 56.1 | ' | 6.5 | 6.5 | 7.1 | 7.1 | 19.7 | ' | 13.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Due to Related Parties | ' | 72,346,000 | 77,174,000 | 93,500,000 | 92,738,000 | 92,856,000 | 92,797,000 | 107,695,000 | ' | ' | ' | ' | 77,174,000 | 92,856,000 | ' | ' | 72,346,000 | 92,738,000 | 107,695,000 | ' | 72,657,000 | ' | 92,973,000 | ' | 92,035,000 | ' | 91,020,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 26,600,000 | 17,900,000 | 54,400,000 | 64,300,000 | ' | ' | ' | 51,800,000 | 51,900,000 | ' | ' | 16,400,000 | 24,500,000 | 17,100,000 | 14,000,000 | 49,100,000 | 18,900,000 | 49,900,000 | 7,500,000 | 2,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Vendor Financing, Variable Interest Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.05% | 0.05% | 0.05% | 0.05% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line Of Credit Amount Utilized | ' | 61,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 61,900,000 | ' | ' | ' | 182,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Sales Agreement, Minimum Advance For Rebar Sold | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 81,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash and Cash Equivalents Including Restricted Cash | ' | 467,900,000 | 448,500,000 | 336,000,000 | 519,900,000 | 465,800,000 | 540,000,000 | 282,400,000 | 261,800,000 | 263,100,000 | ' | ' | 448,500,000 | 465,800,000 | 261,800,000 | ' | 467,900,000 | 519,900,000 | 282,400,000 | ' | 431,300,000 | ' | 369,900,000 | ' | 518,200,000 | ' | 263,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash In Bank, Insurance Coverage | ' | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deposits Assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,000,000 | 3,100,000 | 9,500,000 | 9,500,000 | 2,300,000 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Entity Wide Purchases Major Supplier Percentage | ' | 15.30% | 45.00% | 32.60% | 25.40% | 37.90% | 65.30% | 49.00% | 29.60% | 60.30% | 40.20% | 47.20% | 38.40% | 48.30% | 41.60% | 48.50% | 29.30% | 39.60% | 44.80% | 45.60% | ' | ' | 38.90% | 38.90% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 40.20% | 38.90% | 48.60% | 48.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | 10.00% | 10.00% | ' | ' | 29.10% | 33.80% | 16.90% | 28.30% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Entity Wide Accounts Payable Major Supplier Percentage | ' | ' | ' | ' | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | ' | ' | 10.00% | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 33.80% | ' | 23.10% | 28.90% | 32.70% | 30.20% | 26.80% | 16.70% | 26.00% | 9.80% | 26.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax, Portion Attributable to Parent, Total | ' | ' | ' | 8,600,000 | ' | ' | 8,800,000 | ' | ' | ' | ' | ' | 4,200,000 | 10,000,000 | 11,200,000 | ' | 2,500,000 | 10,000,000 | 13,100,000 | ' | 700,000 | ' | 10,200,000 | ' | 10,200,000 | ' | 11,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Foreign Currency Exchange Translation Rate Balance Sheet Items | ' | 6.13 | 6.17 | 6.27 | 6.32 | 6.31 | 6.31 | 6.39 | 6.46 | ' | ' | ' | 6.17 | 6.31 | 6.46 | ' | 6.13 | 6.32 | 6.39 | ' | 6.11 | ' | 6.3 | ' | 6.37 | ' | 6.59 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Foreign Currency Exchange Average Translation Rate | ' | 6.16 | 6.2 | 6.28 | 6.33 | 6.32 | 6.3 | 6.41 | 6.51 | 6.59 | 6.77 | 6.84 | 6.24 | 6.3 | 6.55 | 6.82 | 6.21 | 6.31 | 6.49 | 6.8 | ' | 6.19 | 6.3 | 6.3 | 6.47 | ' | 6.76 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage Of Profit Sharing Liability | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 40.00% | ' | ' | ' | 40.00% | 40.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property, Plant and Equipment, Salvage Value, Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.00% | 5.00% | 3.00% | 3.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Criteria For Determination Of Nature Of Lease | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'The Company assesses all significant leases for purposes of classification as either operating or capital. At lease inception, if the lease meets any of the four following criteria, the Company will classify it as a capital lease; otherwise it will be treated as an operating lease: a) transfer of ownership to lessee at the end of the lease term, b) bargain purchase option, c) lease term is equal to 75% or more of the estimated economic life of the leased property, d) the present value of the minimum lease payments is 90% or more of the fair value of the leased asset. | ' | ' | ' | 'The Company assesses all significant leases for purposes of classification as either operating or capital. At lease inception, if the lease meets any of the four following criteria, the Company will classify it as a capital lease; otherwise it will be treated as an operating lease: a) transfer of ownership to lessee at the end of the lease term, b) bargain purchase option, c) lease term is equal to 75% or more of the estimated economic life of the leased property, d) the present value of the minimum lease payments is 90% or more of the fair value of the leased asset. | 'The Company assesses all significant leases for purposes of classification as either operating or capital. At lease inception, if the lease meets any of the four following criteria, the Company will classify it as a capital lease; otherwise it will be treated as an operating lease: a) transfer of ownership to lessee at the end of the lease term, b) bargain purchase option, c) lease term is equal to 75% or more of the estimated economic life of the leased property, d) the present value of the minimum lease payments is 90% or more of the fair value of the leased asset. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage Of Ownership, Significant Influence | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | 50.00% | 20.00% | 20.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income (Loss) from Equity Method Investments, Net of Dividends or Distributions | ' | 50,000 | 100,000 | 40,000 | 40,000 | 80,000 | 40,000 | 800,000 | 400,000 | 1,700,000 | 800,000 | 3,100,000 | 90,000 | 40,000 | 2,000,000 | 3,200,000 | 100,000 | 100,000 | 2,800,000 | 4,100,000 | 200,000 | ' | 200,000 | ' | 3,900,000 | ' | 6,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sale Of Equity Interest Percentage | 22.76% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 22.76% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 22.76% | ' | ' | ' | ' |
Variable Interest Entity, Consolidated, Carrying Amount, Assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 40,500,000 | ' | ' | ' | ' |
Noncontrolling Interest in Variable Interest Entity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 32,500,000 | ' | ' | ' | ' |
Sale Of Equity,Non Cash Consideration | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,600,000 | ' | ' | ' | ' |
Sale Of Equity Non Cash Consideration Dividend | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 300,000 | ' | ' | ' | ' |
Sale Of Equity, Cash Consideration | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 900,000 | ' | ' | ' | ' |
Deconsolidation of a subsidiary as a reduction to paid-in-capital | ' | ' | ' | 0 | ' | ' | 2,977,000 | ' | ' | 0 | ' | ' | 0 | 2,975,000 | 0 | 0 | 0 | 2,972,000 | 0 | 0 | 12,735,000 | ' | 2,975,000 | ' | 0 | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,100,000 | ' | ' | ' | ' |
Fair Value Inputs, Discount Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.30% | 7.30% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Maximum Borrowing Capacity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 318,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 491,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restricted Notes Receivable Interest Income | ' | 9,600,000 | 6,500,000 | 10,800,000 | 16,300,000 | 28,400,000 | 20,900,000 | 9,000,000 | 6,200,000 | 5,200,000 | 5,200,000 | 9,000,000 | 17,300,000 | 49,300,000 | 11,400,000 | 14,600,000 | 26,900,000 | 65,600,000 | 20,400,000 | 19,800,000 | 37,900,000 | ' | 90,000,000 | ' | 34,200,000 | ' | 24,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Concentration Risk, Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25.50% | 27.80% | 20.40% | 27.20% | 34.70% | 45.00% | 20.40% | 40.60% | 32.30% | 29.20% | 24.50% | 23.30% | 36.80% | 36.50% | 27.30% | 23.40% | 34.10% | 30.70% | 28.50% | 22.10% | 26.70% | 27.10% | 28.60% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.00% | 48.90% | 0.00% | 76.30% | 0.00% | 32.00% | 15.60% | 47.80% | 27.20% | 0.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Finite lived Intangible Asset Acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,500,000 | 15,000,000 | 2,400,000 | 15,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 24,200,000 | 148,600,000 | 24,300,000 | 148,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,900,000 | 23,700,000 | 3,900,000 | 23,700,000 | 2,700,000 | 16,600,000 | 2,700,000 | 16,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Profit Sharing Liability Fair Value Criteria | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'If we were to reduce the projected bank borrowing rate by 1.0% and other factors remained unchanged, our profit sharing liability as of September 30, 2013 would have been $254.9 million and we would reduce the gain from the change in the fair value of the profit sharing liabilities by $13.8 million. If we were to reduce the projected selling units and growth in the steel market rate by 1.0% and other factors remained unchanged, our profit sharing liability as of September 30, 2013 would have been $214.3 million and we would increase the gain from the change in the fair value of profit sharing liabilities by $26.8 million | 'If we were toreduce the projected bank borrowing rate used to discount the liability to a present value by 1.0% and other factors remained unchanged, our profit sharing liability as of December 31, 2013 would have been $186.0 million and we would reduce the gain from the change in the fair value of theprofit sharing liabilities by $23.7 million. | 'If we were toreduce the projected selling units and growth in the steel market rate by 1.0% and other factors remained unchanged, our profit sharing liability as of December 31, 2013 would have been $159.8 million and we would reduce the loss from the change in the fair value of profit sharing liabilities by $2.5 million. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Profit Sharing Liability | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 95,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | 186,000,000 | 23,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gain Loss On Change In Fair Value Of Profit Sharing Liability | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 174,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | 159,800,000 | 2,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair Value Measurement With Unobservable Inputs Reconciliation Initial Measurement And Recognition Of Profit Sharing Liability | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | 0 | 280,857,000 | ' | 241,100,000 | 0 | 280,857,000 | ' | 162,300,000 | ' | ' | ' | 280,857,000 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination Equity Interest Description | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'Prior to November 19, 2013, the Company held a 60.0% equity interest in Tianwu General Steel Material Trading Co., Ltd. (Tianwu). 32% interest was held by General Steel (China) and 28% interest was held by Yangpu Shengtong. | 'Prior to November 19, 2013, the Company held a 60.0% equity interest in Tianwu General Steel Material Trading Co., Ltd. (Tianwu). 32% interest was held by General Steel (China) and 28% interest was held by Yangpu Shengtong. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage Of Equity Interest Sold | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 60.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 28.00% | 28.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20.70% | ' | ' | ' | ' | ' | ' | ' | 28.00% | ' | ' | ' | ' | ' | ' | 32.00% | ' | ' | ' |
Proceeds From Sale Of Equity Interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8,000,000 | 49,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13,600,000 | 84,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11,300,000 | ' | ' | ' | 72,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage Of Equity Interest Retained | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 32.00% | 32.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Entity Wide Accounts Receivable Major Customer Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.00% | 47.80% | 27.20% | 0.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Value Added Tax Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 17.00% | 17.00% | 13.00% | 13.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Inventory Write-down | ' | ' | ' | 13,400,000 | ' | ' | 13,400,000 | ' | ' | ' | ' | ' | 13,800,000 | 16,900,000 | 1,300,000 | ' | 7,300,000 | 14,000,000 | 2,700,000 | ' | 0 | ' | 38,500,000 | ' | 37,512,000 | ' | 1,061,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shipping, Handling and Transportation Costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 23,100,000 | ' | 23,700,000 | ' | 30,100,000 | ' | 9,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Treasury Stock, Shares | ' | 2,472,306 | 2,472,306 | 2,472,306 | 2,472,306 | 2,472,306 | 1,090,978 | 1,090,978 | 1,090,978 | 713,660 | ' | ' | 2,472,306 | 2,472,306 | 1,090,978 | ' | 2,472,306 | 2,472,306 | 1,090,978 | ' | 2,472,306 | 2,472,306 | 2,472,306 | 2,472,306 | 1,090,978 | ' | 316,760 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '50 years | ' | ' | ' | '50 years | '50 years | ' | ' | ' | ' | '50 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unified Management Agreement, Cost Of Asset | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,300,000 | 14,600,000 |
Long-term Line of Credit | ' | $110,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $110,800,000 | ' | ' | ' | $230,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $818,500,000 | $815,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | $163,700,000 | $163,000,000 | $81,900,000 | ' | ' | $163,700,000 | $163,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $491,100,000 | $489,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Mining Rigths Amortization | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'which is amortized over the estimated recoverable reserve of 4.2 million tons. | 'which is amortized over the estimated recoverable reserve of 4.2 million tons. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loans_receivable_related_parti2
Loans receivable - related parties (Details) (USD $) | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
In Thousands, unless otherwise specified | ||||||||||
Loans Receivable Related Parties [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loans receivable - related parties | $4,540 | $4,540 | $6,000 | $6,000 | $69,319 | $67,159 | $67,239 | $63,199 | $0 | $0 |
Long-term loan receivable - related party | ' | ' | ' | ' | ' | 2,000 | 2,000 | 2,000 | ' | ' |
Long Steel Group [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loans Receivable Related Parties [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loans receivable - related parties | 0 | 0 | 0 | 0 | 63,319 | 63,159 | 63,239 | 63,199 | 0 | 0 |
Teamlink Investment Co., Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loans Receivable Related Parties [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loans receivable - related parties | 4,540 | 4,540 | 6,000 | 6,000 | 6,000 | 4,000 | 4,000 | 0 | 0 | 0 |
Long-term loan receivable - related party | ' | ' | ' | ' | ' | $2,000 | $2,000 | $2,000 | ' | ' |
Loans_receivable_related_parti3
Loans receivable - related parties (Details Textual) (USD $) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Sep. 30, 2010 | Jun. 30, 2010 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2011 | Jun. 30, 2010 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Jul. 31, 2014 | Jun. 30, 2014 | Jun. 30, 2013 |
Teamlink Investment Co Ltd [Member] | Teamlink Investment Co Ltd [Member] | Teamlink Investment Co Ltd [Member] | Teamlink Investment Co Ltd [Member] | ||||||||||||||||||||||
Loans Receivable Related Parties [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest Income Related Party | $0.10 | $0 | $0.10 | $0 | $0.90 | $0.90 | $0 | $0 | $0 | $0 | $0 | $0.10 | $1.80 | $0 | $0 | $0.20 | $1.80 | $0 | $0 | $0.30 | $2.30 | ' | ' | ' | ' |
Loans Receivable Maturity Date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'due in June, July and December 2014 | ' | ' | ' |
Loans Receivable Interest Rate Stated Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4.75% | 4.75% | 4.75% | 4.75% |
Accounts_receivable_including_2
Accounts receivable (including related parties), net (Details) (USD $) | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Dec. 31, 2010 | Dec. 31, 2009 |
In Thousands, unless otherwise specified | |||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accounts receivable | $5,131 | $9,729 | $43,499 | $18,489 | $8,062 | $9,299 | $10,954 | $20,602 | $14,624 | $38,383 | $51,391 | $18,796 | ' |
Less: allowance for doubtful accounts | -1,053 | -1,152 | -1,226 | -1,335 | -1,367 | -1,643 | -2,027 | -2,025 | -2,023 | -21 | -18 | -296 | -490 |
Accounts receivable - related parties | 2,942 | 3,252 | 6,212 | 8,231 | 14,966 | 28,346 | 87,373 | 53,056 | 20,593 | 10,594 | 43,500 | 4,160 | ' |
Net accounts receivable | $7,020 | $11,829 | $48,485 | $25,385 | $21,661 | $36,002 | $96,300 | $71,633 | $33,194 | $48,956 | $94,873 | $22,660 | ' |
Accounts_receivable_including_3
Accounts receivable (including related parties), net (Details 1) (USD $) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||
In Thousands, unless otherwise specified | Mar. 31, 2013 | Mar. 31, 2012 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Beginning balance | $1,367 | $2,023 | $1,367 | $2,023 | $296 | $1,367 | $2,023 | $296 | $1,367 | $2,023 | $296 | $490 |
Charge to expense | 0 | 0 | 0 | 0 | 0 | 0 | 411 | 0 | 96 | 433 | 1,972 | 174 |
Less: recovery | -40 | 0 | -168 | -14 | -280 | -249 | -807 | -280 | -449 | -1,109 | -284 | -386 |
Exchange rate effect | 8 | 2 | 27 | 18 | 2 | 34 | 16 | 5 | 39 | 20 | 39 | 18 |
Ending balance | $1,335 | $2,025 | $1,226 | $2,027 | $18 | $1,152 | $1,643 | $21 | $1,053 | $1,367 | $2,023 | $296 |
Inventories_Details
Inventories (Details) (USD $) | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Dec. 31, 2010 | Dec. 31, 2009 |
In Thousands, unless otherwise specified | |||||||||||||
Inventory [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Supplies | $21,040 | $23,302 | $23,768 | $23,609 | $23,123 | $23,403 | $24,428 | $22,035 | $20,869 | $41,103 | $22,578 | $13,733 | ' |
Raw materials | 164,301 | 138,951 | 98,312 | 141,756 | 141,503 | 132,626 | 232,418 | 276,931 | 279,041 | 294,518 | 329,763 | 381,178 | ' |
Finished goods | 42,977 | 22,527 | 51,980 | 96,030 | 57,630 | 83,456 | 83,366 | 74,528 | 35,962 | 99,220 | 122,148 | 59,813 | ' |
Less: allowance for inventory valuation | -15,397 | -7,397 | -13,905 | -13,465 | -9,585 | -13,995 | -16,911 | -13,430 | -38,143 | -2,697 | -1,285 | -1,088 | 0 |
Total inventories | $212,921 | $177,383 | $160,155 | $247,930 | $212,671 | $225,490 | $323,301 | $360,064 | $297,729 | $432,144 | $473,204 | $453,636 | ' |
Inventories_Details_1
Inventories (Details 1) (USD $) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||
In Thousands, unless otherwise specified | Mar. 31, 2013 | Mar. 31, 2012 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Inventory [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Beginning balance | $9,585 | $38,143 | $9,585 | $38,143 | $1,088 | $9,585 | $38,143 | $1,088 | $9,585 | $38,143 | $1,088 | $0 |
Addition | 13,441 | 13,464 | 13,757 | 16,928 | 1,266 | 7,305 | 14,015 | 2,656 | 15,194 | 9,582 | 37,512 | 1,061 |
Less: write-off | -9,623 | -38,556 | -9,681 | -38,522 | -1,266 | -9,722 | -38,488 | -1,301 | -9,757 | -38,519 | -1,108 | 0 |
Exchange rate effect | 62 | 379 | 244 | 362 | 197 | 229 | 325 | 254 | 375 | 379 | 651 | 27 |
Ending balance | $13,465 | $13,430 | $13,905 | $16,911 | $1,285 | $7,397 | $13,995 | $2,697 | $15,397 | $9,585 | $38,143 | $1,088 |
Advances_on_inventory_purchase1
Advances on inventory purchases (Details Textual) (USD $) | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Dec. 31, 2010 |
In Millions, unless otherwise specified | ||||||||||||
Advances on inventory purchases [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Advances On Inventory Purchases Including Related Parties | $127.90 | $109.50 | $60.30 | $62.60 | $126.10 | $160.90 | $150.60 | $174.20 | $83.80 | $187.90 | $63.80 | $30.80 |
Plant_and_equipment_net_Detail
Plant and equipment, net (Details) (USD $) | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Dec. 31, 2010 |
In Thousands, unless otherwise specified | ||||||||||||
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Buildings and improvements | $274,402 | $253,621 | $221,645 | $216,924 | $214,661 | $186,986 | $186,462 | $182,925 | $183,343 | $173,838 | $126,070 | $116,294 |
Machinery | 667,093 | 616,813 | 591,160 | 579,267 | 573,572 | 615,099 | 607,181 | 603,931 | 621,463 | 548,662 | 515,350 | 502,958 |
Machinery under capital lease | 623,895 | 603,248 | 599,547 | 590,665 | 587,334 | 585,854 | 586,594 | 586,224 | 581,413 | 579,192 | 572,531 | 0 |
Transportation and other equipment | 22,991 | 22,085 | 21,840 | 21,197 | 20,274 | 18,893 | 18,991 | 18,431 | 18,132 | 17,178 | 15,483 | 13,253 |
Construction in progress | 11,412 | 58,111 | 60,380 | 19,232 | 4,645 | 3,212 | 9,375 | 9,035 | 8,203 | 31,115 | 82,051 | 65,749 |
Subtotal | 1,599,793 | 1,553,878 | 1,494,572 | 1,427,285 | 1,400,486 | 1,410,044 | 1,408,603 | 1,400,546 | 1,412,554 | 1,349,985 | 1,311,485 | 698,254 |
Less: accumulated depreciation | -327,886 | -303,336 | -280,014 | -254,967 | -232,650 | -212,572 | -192,110 | -171,774 | -155,318 | -136,186 | -118,989 | -95,642 |
Total | $1,271,907 | $1,250,542 | $1,214,558 | $1,172,318 | $1,167,836 | $1,197,472 | $1,216,493 | $1,228,772 | $1,257,236 | $1,213,799 | $1,192,496 | $602,612 |
Plant_and_equipment_net_Detail1
Plant and equipment, net (Details 1) (USD $) | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Dec. 31, 2010 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | 1.2 million tons high-strength steel production line [Member] | Iron-making system dust removing equipment [Member] | Iron-making system dust removing equipment [Member] | Drainage system [Member] | Factory wall repair [Member] | Factory wall repair [Member] | Gas pipe repair [Member] | Office buildings [Member] | Equipment updates [Member] | Equipment updates [Member] | Sintering Machine Construction [Member] | 5 blast furnace construction [Member] | 5 blast furnace construction [Member] | Electrical Substation Construction [Member] | Reconstruction Of Miscellaneous Factory Buildings [Member] | Reconstruction Of Miscellaneous Factory Buildings [Member] | Project materials [Member] | Project materials [Member] | Others [Member] | Others [Member] | ||||||||||||
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Construction in progress | $11,412 | $58,111 | $60,380 | $19,232 | $4,645 | $3,212 | $9,375 | $9,035 | $8,203 | $31,115 | $82,051 | $65,749 | $32,268 | $3,307 | $141 | $499 | $241 | $945 | $121 | $1,336 | $7,381 | $843 | $257 | $208 | $1,907 | $4 | $690 | $4,428 | $2,156 | $2,154 | $731 | $9,906 |
Construction Completion Date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 31-Dec-13 | 30-Nov-13 | 31-Jan-14 | 30-Nov-13 | 30-Nov-13 | 31-Mar-14 | 30-Nov-13 | 30-Nov-13 | 30-Nov-13 | 31-Jan-14 | 30-Nov-14 | 30-Sep-14 | 31-Dec-14 | 31-Aug-14 | 31-Jan-14 | 30-Jun-14 | ' | ' | ' | ' |
Construction In Progress Estimated Additional Cost | $353,024 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,381 | ' | ' | $105 | ' | ' | ' | $2,725 | $143,525 | ' | $176,526 | $24,229 | ' | $4,533 | $0 | ' | $0 | ' |
Plant_and_equipment_net_Detail2
Plant and equipment, net (Details 2) (USD $) | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Dec. 31, 2010 |
In Thousands, unless otherwise specified | ||||||||||||
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Machinery | $623,895 | $603,248 | $599,547 | $590,665 | $587,334 | $585,854 | $586,594 | $586,224 | $581,413 | $579,192 | $572,531 | $0 |
Less: accumulated depreciation | -77,086 | -69,248 | -61,703 | -53,775 | -46,497 | -39,423 | -32,507 | -25,525 | -18,411 | -11,463 | -4,533 | 0 |
Carrying value of leased assets | $546,809 | $534,000 | $537,844 | $536,890 | $540,837 | $546,431 | $554,087 | $560,699 | $563,002 | $567,729 | $567,998 | $0 |
Plant_and_equipment_net_Detail3
Plant and equipment, net (Details Textual) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||||||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Sep. 30, 2010 | Jun. 30, 2010 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2011 | Jun. 30, 2010 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Sep. 30, 2010 | Jun. 30, 2010 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2011 | Jun. 30, 2010 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | CNY | USD ($) | USD ($) | Assets Held under Capital Leases [Member] | Assets Held under Capital Leases [Member] | Assets Held under Capital Leases [Member] | Assets Held under Capital Leases [Member] | Assets Held under Capital Leases [Member] | Assets Held under Capital Leases [Member] | Assets Held under Capital Leases [Member] | Assets Held under Capital Leases [Member] | Assets Held under Capital Leases [Member] | Assets Held under Capital Leases [Member] | Assets Held under Capital Leases [Member] | Assets Held under Capital Leases [Member] | Assets Held under Capital Leases [Member] | Assets Held under Capital Leases [Member] | Assets Held under Capital Leases [Member] | Assets Held under Capital Leases [Member] | Assets Held under Capital Leases [Member] | Assets Held under Capital Leases [Member] | Assets Held under Capital Leases [Member] | Assets Held under Capital Leases [Member] | Assets Held under Capital Leases [Member] | Assets Held under Capital Leases [Member] | Assets Held under Capital Leases [Member] | |
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | |||||||||||||||||||||||||
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Depreciation | $21.60 | $21.40 | $21.10 | $20.80 | $20.50 | $20.10 | $18.10 | $12.80 | $8.70 | $11.60 | $9.50 | $42.50 | $40.60 | $21.50 | $18.80 | $64.10 | $61.40 | $39.60 | $30.40 | $87.90 | $82.50 | ' | $56.40 | $40.10 | $7.10 | $7.10 | $7 | $7 | $6.90 | $7 | $6.80 | $4.50 | $0 | $0 | $0 | $14.10 | $13.90 | $4.50 | $0 | $21.20 | $20.90 | $11.30 | $0 | $28.70 | $27.90 | $18.10 | $0 |
Impairment of plant and equipment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $20.20 | 127.2 | ' | $1.70 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Lease Expiration Date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30-Apr-31 | ' | ' | ' | 30-Apr-31 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intangible_assets_net_Details
Intangible assets, net (Details) (USD $) | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Dec. 31, 2010 |
In Thousands, unless otherwise specified | ||||||||||||
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Finite-Lived Intangible Assets, Gross | $34,086 | $33,988 | $33,780 | $33,280 | $33,062 | $32,955 | $32,994 | $32,951 | $32,708 | $30,254 | $29,906 | $29,122 |
Less: Accumulated amortization | -10,379 | -10,060 | -9,722 | -9,304 | -8,996 | -8,728 | -8,371 | -8,043 | -7,565 | -6,430 | -6,052 | -5,450 |
Intangible assets, net | 23,707 | 23,928 | 24,058 | 23,976 | 24,066 | 24,227 | 24,623 | 24,908 | 25,143 | 23,824 | 23,854 | 23,672 |
Land use rights [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Finite-Lived Intangible Assets, Gross | 30,884 | 30,798 | 30,609 | 30,156 | 29,986 | 29,917 | 29,954 | 29,936 | 29,685 | 29,571 | 29,231 | 28,462 |
Less: Accumulated amortization | -8,498 | -8,387 | -8,130 | -7,786 | -7,577 | -7,325 | -7,075 | -6,811 | -6,442 | -6,162 | -5,831 | -5,316 |
Mining right [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Finite-Lived Intangible Assets, Gross | 2,459 | 2,448 | 2,433 | 2,397 | 2,384 | 2,350 | 2,351 | 2,326 | 2,338 | ' | ' | 0 |
Less: Accumulated amortization | -1,320 | -1,144 | -1,096 | -1,057 | -993 | -999 | -926 | -893 | -822 | ' | ' | 0 |
Software [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Finite-Lived Intangible Assets, Gross | 743 | 742 | 738 | 727 | 692 | 688 | 689 | 689 | 685 | 683 | 675 | 660 |
Less: Accumulated amortization | ($561) | ($529) | ($496) | ($461) | ($426) | ($404) | ($370) | ($339) | ($301) | ($268) | ($221) | ($134) |
Intangible_assets_net_Details_
Intangible assets, net (Details 1) (USD $) | Dec. 31, 2013 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | ||
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Estimated amortization and depletion expenses, December 31, 2014 | $1,086 | $1,082 |
Estimated amortization and depletion expenses, December 31, 2015 | 1,086 | 1,082 |
Estimated amortization and depletion expenses, December 31, 2016 | 1,086 | 1,082 |
Estimated amortization and depletion expenses, December 31, 2017 | 1,086 | 1,082 |
Estimated amortization and depletion expenses, December 31, 2018 | 1,086 | 1,082 |
Estimated amortization and depletion expenses, Thereafter | 18,277 | 18,518 |
Estimated amortization and depletion expenses, Total | 23,707 | 23,928 |
Gross carrying amount, December 31, 2014 | 22,621 | 22,846 |
Gross carrying amount, December 31, 2015 | 21,535 | 21,764 |
Gross carrying amount, December 31, 2016 | 20,449 | 20,682 |
Gross carrying amount, December 31, 2017 | 19,363 | 19,600 |
Gross carrying amount, December 31, 2018 | 18,277 | 18,518 |
Gross carrying amount, Thereafter | $0 | $0 |
Intangible_assets_net_Details_1
Intangible assets, net (Details Textual) (USD $) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||||||||||
Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Sep. 30, 2010 | Jun. 30, 2010 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2011 | Jun. 30, 2010 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Finite-Lived Intangible Asset, Useful Life | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '33 years 8 months 12 days | ' | ' | ' | '33 years 6 months | ' | ' | ' |
Amortization of Intangible Assets | $200,000 | $300,000 | $200,000 | $300,000 | $300,000 | $300,000 | $300,000 | $300,000 | $200,000 | $300,000 | $200,000 | $500,000 | $600,000 | $500,000 | $500,000 | $700,000 | $900,000 | $800,000 | $800,000 | $800,000 | $1,200,000 | $1,100,000 | $1,100,000 |
Depletion | $20,000 | $20,000 | $100,000 | $100,000 | $40,000 | $60,000 | $0 | $0 | $0 | $0 | $0 | $100,000 | $100,000 | $0 | $0 | $100,000 | $200,000 | $0 | $0 | $300,000 | $200,000 | $800,000 | $0 |
Debt_Details
Debt (Details) (USD $) | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Dec. 31, 2010 |
In Thousands, unless otherwise specified | ||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Short term notes payable | $1,017,830 | $987,988 | $813,521 | $785,519 | $983,813 | $867,769 | $910,662 | $1,248,235 | $1,113,504 | $554,931 | $345,657 | $480,152 |
General Steel China Notes Payable To China Agricultural Bank [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Short term notes payable | 29,466 | 37,490 | 21,287 | 223 | 12,696 | 12,664 | 12,680 | 20,671 | 7,934 | 6,260 | 23,875 | 21,541 |
Longmen Joint Venture Notes Payable To Various Banks In China [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Short term notes payable | 988,364 | 950,498 | 792,234 | 785,296 | 971,117 | 855,105 | 897,982 | 1,227,564 | 1,105,570 | 548,671 | 321,782 | 447,992 |
Baotou Notes Payable To Various Banks In China [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Short term notes payable | $0 | ' | ' | ' | $0 | ' | ' | ' | $0 | $0 | $0 | $10,619 |
Debt_Details_1
Debt (Details 1) (USD $) | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Dec. 31, 2010 |
In Thousands, unless otherwise specified | ||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Short term loans - bank | $301,917 | $254,929 | $208,731 | $117,124 | $147,124 | $139,752 | $199,421 | $318,662 | $253,954 | $402,428 | $311,697 | $285,198 |
General Steel China Loans From Various Banks In China [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Short term loans - bank | 34,229 | 38,973 | 34,478 | 32,372 | 32,189 | 35,274 | 37,674 | 41,526 | 43,149 | 33,203 | 34,644 | 24,220 |
Longmen Joint Venture Loans from various banks in China [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Short term loans - bank | 267,688 | 215,956 | 174,253 | 84,752 | 114,935 | 102,895 | 160,162 | 277,136 | 209,234 | 369,225 | 277,053 | 260,978 |
Tianwu Loans From Industrial and Commercial Bank Of China Limited [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Short term loans - bank | $0 | ' | ' | ' | $0 | $1,583 | $1,585 | $0 | $1,571 | ' | ' | $0 |
Debt_Details_2
Debt (Details 2) (USD $) | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Dec. 31, 2010 |
In Thousands, unless otherwise specified | ||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Short term loans - others | $62,067 | $130,170 | $151,245 | $148,023 | $147,323 | $212,720 | $240,125 | $299,707 | $246,657 | $227,198 | $205,190 | $127,712 |
Longmen Joint Venture Loans from various unrelated companies and individuals [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Short term loans - others | 22,720 | 33,294 | 46,980 | 46,003 | 25,324 | 32,911 | 55,935 | 104,227 | 143,102 | 61,467 | 84,018 | 75,380 |
Longmen Joint Venture Loans from financing sales [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Short term loans - others | 33,124 | 90,680 | 98,106 | 95,953 | 115,966 | 173,791 | 178,165 | 189,458 | 97,583 | 159,782 | 115,291 | 37,947 |
Maoming Hengda Loans from one unrelated parties and one related party [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Short term loans - others | $6,223 | $6,196 | $6,159 | $6,067 | $6,033 | $6,018 | $6,025 | $6,022 | $5,972 | $5,949 | $5,881 | $14,385 |
Debt_Details_3
Debt (Details 3) (USD $) | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Dec. 31, 2010 |
In Thousands, unless otherwise specified | ||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Short term loans - related parties | $126,693 | $48,889 | $81,975 | $104,390 | $79,557 | $82,069 | $81,524 | $82,992 | $15,710 | $15,650 | $15,637 | $14,548 |
Baotou Steel Loans From Tianjin Hengying Trading Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Short term loans - related parties | 0 | 3,430 | 3,409 | 3,837 | 4,133 | 5,072 | 5,078 | 5,075 | 0 | ' | ' | 0 |
General Steel China Loans From Tianjin Hengying Trading Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Short term loans - related parties | 0 | 0 | 0 | 0 | 15,416 | 19,756 | 6,802 | 18,795 | 0 | ' | ' | 0 |
General Steel China Loans From Tianjin Dazhan Industry Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Short term loans - related parties | 0 | 0 | 6,858 | 0 | 21,397 | 8,972 | 50,984 | 24,674 | 0 | ' | ' | 0 |
General Steel China Loans From Beijing Shenhua Xinyuan Metal Materials Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Short term loans - related parties | 0 | 1,395 | 1,387 | 1,366 | 1,359 | 1,355 | 1,357 | 1,356 | 0 | ' | ' | 0 |
General Steel China Loans From Yangpu Capital Automobile [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Short term loans - related parties | 1,458 | 1,451 | 1,442 | 1,421 | 1,413 | 1,409 | 1,411 | 1,410 | 0 | ' | ' | 0 |
Longmen Joint Venture Loan from Shaanxi Coal and Chemical Industry Group Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Short term loans - related parties | 28,216 | 33,580 | 42,836 | 56,977 | 0 | ' | ' | ' | 0 | ' | ' | 0 |
Longmen Joint Venture Loan From Shaanxi Steel Group [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Short term loans - related parties | 49,110 | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | 14,548 |
Longmen Joint Venture Loans From Tianjin Hengying Trading Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Short term loans - related parties | 0 | ' | ' | ' | 0 | ' | ' | 15,840 | 15,710 | 15,650 | 15,470 | 0 |
Longmen Joint Venture Loan from Xian Pinhe Steel Material Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Short term loans - related parties | ' | 0 | 0 | 15,960 | 0 | ' | ' | ' | ' | ' | ' | ' |
Longmen Joint Venture Loans From Financing Sales [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Short term loans - related parties | $47,909 | $9,033 | $26,043 | $24,829 | $35,839 | $45,505 | $15,892 | $15,842 | $0 | ' | $167 | $0 |
Debt_Details_4
Debt (Details 4) (USD $) | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Dec. 31, 2010 |
In Thousands, unless otherwise specified | ||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Longmen Joint Venture: Loans from Shaanxi Steel Group | $72,657 | $72,346 | $77,174 | $93,500 | $92,973 | $92,738 | $92,856 | $92,797 | $92,035 | $107,695 | ' | $91,020 |
Current maturities of long-term loans - related parties | -53,013 | -47,896 | -48,014 | -59,984 | -54,885 | -49,997 | 0 | 0 | 0 | ' | ' | 0 |
Long-term loans - related party | $19,644 | $24,450 | $29,160 | $33,516 | $38,088 | $42,741 | $92,856 | $92,797 | $92,035 | $107,695 | $134,566 | $91,020 |
Debt_Details_Textual
Debt (Details Textual) (USD $) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 0 Months Ended | 0 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Sep. 30, 2010 | Jun. 30, 2010 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2011 | Jun. 30, 2010 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Dec. 31, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jun. 30, 2011 | Dec. 31, 2010 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Jun. 30, 2011 | Dec. 31, 2010 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Dec. 31, 2010 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Dec. 31, 2010 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Dec. 31, 2010 | Sep. 30, 2013 | Sep. 28, 2013 | Sep. 30, 2013 | Sep. 28, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 |
General Steel China Notes Payable To Various Banks In China [Member] | General Steel China Notes Payable To Various Banks In China [Member] | General Steel China Notes Payable To Various Banks In China [Member] | General Steel China Notes Payable To Various Banks In China [Member] | General Steel China Notes Payable To Various Banks In China [Member] | General Steel China Notes Payable To Various Banks In China [Member] | General Steel China Notes Payable To Various Banks In China [Member] | General Steel China Notes Payable To Various Banks In China [Member] | General Steel China Notes Payable To Various Banks In China [Member] | General Steel China Notes Payable To Various Banks In China [Member] | Longmen Joint Venture Loans From Various Unrelated Companies and Individuals [Member] | Longmen Joint Venture Loans From Various Unrelated Companies and Individuals [Member] | Longmen Joint Venture Loans From Various Unrelated Companies and Individuals [Member] | Longmen Joint Venture Loans From Various Unrelated Companies and Individuals [Member] | Longmen Joint Venture Loans From Various Unrelated Companies and Individuals [Member] | Longmen Joint Venture Loans From Various Unrelated Companies and Individuals [Member] | Longmen Joint Venture Loans From Various Unrelated Companies and Individuals [Member] | Longmen Joint Venture Loans From Various Unrelated Companies and Individuals [Member] | Longmen Joint Venture Loans From Various Unrelated Companies and Individuals [Member] | Longmen Joint Venture Loans From Various Unrelated Companies and Individuals [Member] | Longmen Joint Venture Notes Payable To Various Banks In China [Member] | Longmen Joint Venture Notes Payable To Various Banks In China [Member] | Longmen Joint Venture Notes Payable To Various Banks In China [Member] | Longmen Joint Venture Notes Payable To Various Banks In China [Member] | Longmen Joint Venture Notes Payable To Various Banks In China [Member] | Longmen Joint Venture Notes Payable To Various Banks In China [Member] | Longmen Joint Venture Notes Payable To Various Banks In China [Member] | Longmen Joint Venture Notes Payable To Various Banks In China [Member] | Longmen Joint Venture Notes Payable To Various Banks In China [Member] | Longmen Joint Venture Notes Payable To Various Banks In China [Member] | Baotou Notes Payable To Various Banks In China [Member] | Tianwu Loans From Industrial and Commercial Bank Of China Limited [Member] | Tianwu Loans From Industrial and Commercial Bank Of China Limited [Member] | Baotou Steel Loans From Tianjin Hengying Trading Co Ltd [Member] | Longmen Joint Venture Loans from various banks in China [Member] | Longmen Joint Venture Loans from various banks in China [Member] | Longmen Joint Venture Loans from various banks in China [Member] | Longmen Joint Venture Loans from various banks in China [Member] | Longmen Joint Venture Loans from various banks in China [Member] | Longmen Joint Venture Loans from various banks in China [Member] | Longmen Joint Venture Loans from various banks in China [Member] | Longmen Joint Venture Loans from various banks in China [Member] | Longmen Joint Venture Loans from various banks in China [Member] | Longmen Joint Venture Loans from various banks in China [Member] | Longmen Joint Venture Loans from various banks in China [Member] | General Steel China Loans From Various Banks In China [Member] | General Steel China Loans From Various Banks In China [Member] | General Steel China Loans From Various Banks In China [Member] | General Steel China Loans From Various Banks In China [Member] | General Steel China Loans From Various Banks In China [Member] | General Steel China Loans From Various Banks In China [Member] | General Steel China Loans From Various Banks In China [Member] | General Steel China Loans From Various Banks In China [Member] | General Steel China Loans From Various Banks In China [Member] | General Steel China Loans From Various Banks In China [Member] | General Steel China Loans From Various Banks In China [Member] | Longmen Joint Venture's One [Member] | Longmen Joint Venture's One [Member] | Longmen Joint Venture's One [Member] | Longmen Joint Venture's [Member] | Longmen Joint Venture's [Member] | Longmen Joint Venture's [Member] | General Steel China Notes payable to China Minsheng Bank [Member] | General Steel China Notes payable to China Minsheng Bank [Member] | General Steel China Notes payable to China Minsheng Bank [Member] | General Steel China Notes payable to China Minsheng Bank [Member] | Short Term Loans, with No Interest [Member] | Short Term Loans, with No Interest [Member] | Short Term Loans, with No Interest [Member] | Short Term Loans, with No Interest [Member] | Short Term Loans, with No Interest [Member] | Short Term Loans, with No Interest [Member] | Short Term Loans, with No Interest [Member] | Short Term Loans, with No Interest [Member] | Short Term Loans, with No Interest [Member] | Short Term Loans, with No Interest [Member] | Short Term Loans, with No Interest [Member] | Short Term Loans, with No Interest [Member] | Short Term Loans, Interest Rates Ranging 4.2% and 5.9% [Member] | Short Term Loans, Interest Rates Ranging 4.2% and 5.9% [Member] | Short Term Loans, Interest Rates Ranging 4.7% to 12.0% [Member] | Short Term Loans, Interest Rates Ranging 4.7% to 12.0% [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | ||||||||||||||||||||||||
Unrelated Companies [Member] | Unrelated Companies [Member] | Unrelated Companies [Member] | Unrelated Companies [Member] | Unrelated Companies [Member] | Longmen Joint Venture Loans From Various Unrelated Companies and Individuals [Member] | Longmen Joint Venture Loans From Financing Sales [Member] | Three General Steel China's bank loans [Member] | Longmen Joint Venture Loans From Various Unrelated Companies and Individuals [Member] | Longmen Joint Venture Loans From Financing Sales [Member] | Three General Steel China's bank loans [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage Of Transaction Fee | 0.05% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.05% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restricted Cash and Cash Equivalents Guarantee For Notes Payable | $381.30 | $365.80 | $269.20 | $418.30 | $407.40 | $440 | $161.70 | $182.80 | ' | ' | ' | $365.80 | $407.40 | $182.80 | ' | $381.30 | $418.30 | $161.70 | ' | $399.40 | $322.70 | $363.30 | $167.70 | $24.50 | ' | $3.10 | $16.40 | $14.80 | $0.20 | $6.30 | $7.90 | $20.80 | $11.70 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $412 | $158.60 | $383 | $316.40 | $401.10 | $425.70 | $355.40 | $162 | $150.70 | $5.30 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $6.30 | $6.30 | $14.30 | $7.90 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restricted Notes Receivable Guarantee For Notes Payable | 237.2 | 98.3 | 248.4 | 67.6 | 115.7 | 401.4 | 248.9 | 55.7 | ' | ' | ' | 98.3 | 115.7 | 55.7 | ' | 237.2 | 67.6 | 248.9 | ' | 231.7 | 345.8 | 451.1 | 159.3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 67.6 | 248.9 | 231.7 | 345.8 | 115.7 | 401.4 | 451.1 | 55.7 | 159.3 | ' | ' | ' | ' | 163.9 | 120 | 0 | 0 | 12.4 | ' | ' | ' | 76 | ' | 81 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument Maturity Dates | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'various dates from October 2013 to March 2014 | 'various dates from November 2012 to August 2013 | 'various dates from December 2011 to August 2012 | 'various dates from January to April 2014 | ' | ' | ' | ' | ' | ' | 'various dates from October 2013 to February 2014 | 'various dates from October 2012 to March 2013 | 'various dates from January to June 2014 | ' | ' | ' | ' | ' | ' | ' | 'various dates from November 2013 to August 2014 | 'various dates from December 2012 to September 2013 | 'various dates from October 2011 to September 2012 | 'various dates from January to August 2014 | ' | ' | ' | ' | ' | ' | ' | 'vary from March to August 2012 | ' | ' | 'various dates from January to December 2014 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'various dates from March to September 2014 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt, Weighted Average Interest Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.20% | 6.40% | 5.20% | 5.20% | 5.20% | 6.00% | 6.50% | 6.60% | 6.20% | 6.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.00% | ' | 6.30% | 6.50% | 6.70% | 6.70% | 6.80% | 4.80% | 6.70% | 6.60% | 8.30% | 6.60% | 6.00% | 7.20% | 7.20% | 7.20% | 7.20% | 7.60% | 7.60% | 7.60% | 7.50% | 7.50% | 7.00% | 6.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12.00% | 5.90% | 5.90% | ' | 4.70% | 4.20% | 4.20% | ' |
Debt To Asset Ratio Maximum | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 70.00% | ' | ' | ' | 20.00% |
Debt To Asset Ratio | 117.70% | 120.90% | 117.50% | 114.40% | 110.90% | 108.00% | 98.20% | 97.10% | ' | ' | ' | 120.90% | 110.90% | 97.10% | ' | 117.70% | 114.40% | 98.20% | ' | ' | 116.40% | 105.40% | 93.20% | ' | ' | ' | 89.70% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 85.00% | 85.00% | 85.00% | 117.10% | 105.40% | 93.20% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Short Term Borrowings, Default | 6.4 | 7.9 | 7.8 | 12.7 | 12.7 | 12.7 | 12.5 | 24.8 | 12.1 | ' | ' | 7.9 | 12.7 | 24.8 | ' | 6.4 | 12.7 | 12.5 | ' | 6.4 | 12.7 | 12.6 | 12.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 130.2 | 151.2 | 148 | 147.3 | 212.7 | 240.1 | 299.7 | 246.7 | 227.2 | 205.2 | 127.7 | 6.2 | ' | 90.7 | ' | 33.3 | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Sales | 166.2 | 188.1 | 165.2 | 307.1 | 149.5 | 144.2 | 297.4 | 248.1 | 159.7 | 178.3 | 211.1 | 353.3 | 293.7 | 407.8 | 398.2 | 519.5 | 600.8 | 705.2 | 576.5 | 724.3 | 1,000 | 998.9 | 761.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Financial Services Costs | 1.1 | 1.5 | 1.6 | 2.1 | 3.5 | 1.2 | 2.2 | 2.3 | 1.6 | 1.5 | 2.2 | 3.1 | 4.7 | 3.9 | 4 | 4.2 | 6.8 | 6.1 | 5.5 | 5.4 | 9.2 | 10.7 | 7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest Costs Capitalized | 1.3 | 0.6 | 0.2 | 0.2 | 0.4 | 0.03 | 0 | 2.1 | 0.7 | 0.5 | 0.7 | 0.8 | 0.4 | 2.8 | 1.1 | 2.1 | 0.6 | 2.8 | 1.6 | 2.8 | 0.7 | 3 | 2.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest Expense, Debt | $15.50 | $19.40 | $19.10 | $36.60 | $25.50 | $27.50 | $35.10 | $23.10 | $14.10 | $10.20 | $16.50 | $38.60 | $53 | $37.20 | $27.40 | $54.50 | $138.90 | $72.30 | $37.60 | $33.20 | $43.10 | $100.90 | $51.30 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Minimum | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4.20% | ' | 4.70% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Maximum | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.90% | ' | 12.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Customer_deposits_Details_Text
Customer deposits (Details Textual) (USD $) | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Dec. 31, 2010 |
Customer Deposits [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Customer Deposits Including Related Parties | $152,700,000 | $110,200,000 | $130,100,000 | $117,300,000 | $147,900,000 | $165,300,000 | $128,100,000 | $138,100,000 | $158,800,000 | $246,500,000 | $241,100,000 | $188,400,000 |
Customer deposits - related parties | $64,881,000 | $14,512,000 | $7,798,000 | $12,649,000 | $21,998,000 | $83,518,000 | $39,134,000 | $57,403,000 | $68,277,000 | $54,385,000 | $65,806,000 | $54,922,000 |
Deposits_due_to_sales_represen1
Deposits due to sales representatives (Details Textual) (USD $) | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Dec. 31, 2010 |
In Millions, unless otherwise specified | ||||||||||||
Deposits Due To Sales Representative Including Related Parties | $26.30 | $30 | $32.60 | $42.30 | $35.10 | $36.20 | $31.80 | $34.80 | $23.80 | $21.50 | $23.70 | $52.10 |
Convertible_notes_and_warrants2
Convertible notes and warrants (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |
2007 Warrants [Member] | ' | ' | ' |
Convertible Notes And Warrant [Line Items] | ' | ' | ' |
Expected volatility | 86.00% | 55.00% | 100.00% |
Expected dividend yield | 0.00% | 0.00% | 0.00% |
Risk-free interest rate | 0.08% | 0.17% | 0.76% |
Expected lives (in years) | '4 months 10 days | '1 year 4 months 13 days | '2 years 4 months 13 days |
Market price | $0.99 | $0.99 | $2.87 |
Strike price | $5 | $5 | $5 |
2009 Warrants [Member] | ' | ' | ' |
Convertible Notes And Warrant [Line Items] | ' | ' | ' |
Expected volatility | ' | 50.00% | 60.00% |
Expected dividend yield | ' | 0.00% | 0.00% |
Risk-free interest rate | ' | 0.24% | 0.44% |
Expected lives (in years) | ' | '5 months 23 days | '1 year 5 months 23 days |
Market price | ' | $0.99 | $2.87 |
Strike price | ' | $5 | $5 |
Convertible_notes_and_warrants3
Convertible notes and warrants (Details 1) | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Convertible Notes And Warrant [Line Items] | ' | ' | ' | ' |
Outstanding Beginning Balance | 3,900,871 | 3,900,871 | 6,678,649 | 6,678,649 |
Granted | 0 | 0 | 0 | 0 |
Forfeited / expired | -3,900,871 | -3,900,871 | -2,777,778 | 0 |
Exercised | 0 | 0 | 0 | 0 |
Outstanding Ending Balance | 0 | 0 | 3,900,871 | 6,678,649 |
Convertible_notes_and_warrants4
Convertible notes and warrants (Details Textual) (USD $) | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Dec. 31, 2010 | Dec. 31, 2007 |
Convertible Notes And Warrant [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Face Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $40,000,000 |
Derivative liabilities | $0 | $0 | $0 | $0 | $0 | $58,400 | $3,300 | $23,100 | $10,000 | $48,000 | $182,000 | $5,573,000 | ' |
Convertible Notes [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible Notes And Warrant [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Class of Warrant or Right, Outstanding | 3,900,871 | 3,900,871 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Direct Offering [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible Notes And Warrant [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Class of Warrant or Right, Outstanding | 2,777,778 | 2,777,778 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Supplemental_disclosure_of_cas1
Supplemental disclosure of cash flow information (Details Textual) | 1 Months Ended | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | 0 Months Ended | 1 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | 1 Months Ended | 9 Months Ended | 12 Months Ended | 12 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||||||||||||||
Aug. 31, 2010 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Sep. 30, 2010 | Jun. 30, 2010 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2011 | Jun. 30, 2010 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2010 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 30, 2010 | Dec. 31, 2010 | Dec. 31, 2011 | Dec. 30, 2010 | Jun. 16, 2011 | Aug. 31, 2010 | Jun. 30, 2011 | Sep. 30, 2011 | Dec. 31, 2011 | Apr. 30, 2011 | Sep. 30, 2013 | Dec. 31, 2013 | Sep. 30, 2011 | Mar. 31, 2011 | Dec. 31, 2011 | Jun. 30, 2012 | Sep. 30, 2012 | Dec. 31, 2012 | Mar. 01, 2012 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2011 | |
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | CNY | USD ($) | USD ($) | USD ($) | USD ($) | Related Parties, Other Receivables [Member] | Related Parties, Other Receivables [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Shaanxi Iron and Steel Group [Member] | Shaanxi Iron and Steel Group [Member] | Shaanxi Iron and Steel Group [Member] | Shaanxi Iron and Steel Group [Member] | Shaanxi Iron and Steel Group [Member] | Shaanxi Xinglong Thermoelectric Co Ltd [Member] | Tongxing [Member] | Tongxing [Member] | Tongxing [Member] | Tongxing [Member] | Long Steel Group [Member] | Long Steel Group [Member] | Long Steel Group [Member] | Long Steel Group [Member] | Long Steel Group [Member] | Long Steel Group [Member] | Long Steel Group [Member] | Long Steel Group [Member] | Long Steel Group [Member] | Long Steel Group [Member] | Long Steel Group [Member] | Long Steel Group [Member] | Ms.Ding Yumei [Member] | Ms.Ding Yumei [Member] | |
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | ||||||||||||||||||||||||||||||
Supplemental Disclosure Of Cash Flow Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest Paid, Net | ' | ' | ' | $3,600,000 | ' | ' | $7,500,000 | ' | ' | $4,700,000 | ' | ' | $7,600,000 | $15,400,000 | $8,600,000 | $8,700,000 | $11,500,000 | $20,200,000 | $8,600,000 | $13,200,000 | $14,500,000 | ' | $22,700,000 | $22,500,000 | $20,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income Taxes Paid | ' | ' | ' | 100,000 | ' | ' | 100,000 | ' | ' | 400,000 | ' | ' | 200,000 | 200,000 | 500,000 | 1,300,000 | 300,000 | 100,000 | 500,000 | 1,600,000 | 900,000 | ' | 600,000 | 800,000 | 1,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Noncontrolling Interest, Ownership Percentage by Parent | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 22.76% | 22.76% | 22.76% | ' | ' | ' | ' | ' | ' | ' |
Minority Interest Ownership By Parent Carrying Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8,000,000 | 8,000,000 | 8,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Land Use Rights Carrying Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,600,000 | 3,600,000 | 3,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Settlement With Payable In Cash | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 300,000 | 300,000 | 300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dividend Receivables Value | ' | ' | ' | 200,000 | ' | ' | 100,000 | ' | ' | ' | ' | ' | 200,000 | 100,000 | ' | ' | 200,000 | 100,000 | ' | ' | 200,000 | ' | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Disposal Of Equipment Value | ' | ' | ' | 1,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000 | 500,000 | ' | ' | 1,000,000 | 500,000 | ' | ' | 1,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Conversion Of Accounts and Other Payable To Short Term Loan | ' | ' | ' | 48,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 48,000,000 | ' | ' | ' | 48,000,000 | ' | ' | ' | ' | 48,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repayment For Advances On Inventory Purchases | ' | ' | ' | 88,200,000 | ' | ' | 11,500,000 | ' | ' | ' | ' | ' | 88,800,000 | 22,400,000 | ' | ' | 119,900,000 | 29,900,000 | ' | ' | 120,300,000 | ' | 43,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Transfer Of Dividend Receivable To Two Individuals | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 900,000 | 900,000 | 900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Inventory Productions, Equipment Conversion | ' | ' | ' | 500,000 | ' | ' | ' | ' | ' | ' | ' | ' | 700,000 | ' | ' | ' | 1,000,000 | 200,000 | ' | ' | 1,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Inventory Utilized In Plant and Equipment Construction | ' | ' | ' | 4,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | 19,000,000 | ' | ' | ' | 37,300,000 | ' | ' | ' | 46,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repayment Of Accounts Payable Related Party | ' | ' | ' | 63,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | 63,900,000 | 0 | ' | ' | 64,200,000 | 0 | ' | ' | 64,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reclassification Of Inventory Purchases Refundable Advances Related Parties To Other Receivables Related Parties | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,700,000 | ' | ' | ' | 3,800,000 | ' | ' | ' | 3,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Construction in Progress Expenditures Incurred but Not yet Paid | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,700,000 | ' | ' | ' | 18,700,000 | ' | ' | ' | 48,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capitalized Cost Of Energy Saving Equipment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 17,800,000 | 110,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Notes Receivable Converted To Cash | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 63,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred Lease Income | ' | ' | ' | ' | ' | ' | ' | 13,600,000 | 13,600,000 | 13,800,000 | 28,600,000 | ' | ' | ' | 13,600,000 | ' | ' | ' | 13,600,000 | 28,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period Share Debt Repayment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 974,571 | ' | 974,571 | 974,571 | 974,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period Value Debt Repayment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,442,000 | ' | ' | ' | ' | ' | ' | 4,900,000 | 4,900,000 | 970 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Transfer Of Voting Rights | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20.70% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sale of Stock, Consideration Received on Transaction | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gain (Loss) on Disposition of Stock in Subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,400,000 | ' | ' | ' | ' | 1,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other Receivables Related Parties | ' | 51,501,000 | 63,223,000 | 89,015,000 | 65,250,000 | 54,400,000 | 76,052,000 | 87,748,000 | 91,728,000 | ' | ' | ' | 63,223,000 | 54,400,000 | 91,728,000 | ' | 51,501,000 | 65,250,000 | 87,748,000 | ' | 54,106,000 | ' | 68,382,000 | 87,679,000 | ' | 10,938,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11,300,000 | 59,300,000 | ' | ' | ' | ' | ' | 406,000 | 561,000 | 3,114,000 | 17,438,000 | 301,000 | 3,734,000 | 1,847,000 | 0 | 9,187,000 | 14,436,000 | 14,834,000 | 3,023,000 | ' | ' |
Capitalization Of Fixed Assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 572,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred Revenue Leases Lease Income Realized | ' | 542,000 | 539,000 | 532,000 | 528,000 | 530,000 | 530,000 | 525,000 | 512,000 | 452,000 | 277,000 | 184,000 | 1,071,000 | 1,060,000 | 964,000 | 320,000 | 1,613,000 | 1,588,000 | 1,489,000 | 598,000 | 2,158,000 | ' | 2,119,000 | 2,008,000 | 900,000 | 943,000 | 13,800,000 | 35,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capital Lease Obligations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 572,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Lessee Leasing Arrangements, Capital Leases, Term of Contract | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '20 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Conversion, Converted Instrument, Shares Issued | 350,885 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,208,791 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 974,571 | 974,571 |
Debt Conversion, Original Debt, Amount | 3,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,800,000 | 4,800,000 |
Noncontrolling Interest, Ownership Percentage By Noncontrolling Owners | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20.70% | ' | ' | 77.24% | 77.24% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Noncontrolling Interest, Increase from Sale of Parent Equity Interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Due from Related Parties | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest Income (Expense), Nonoperating, Net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred_lease_income_Details_
Deferred lease income (Details Textual) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | 9 Months Ended | 10 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Sep. 30, 2010 | Jun. 30, 2010 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2011 | Jun. 30, 2010 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 30, 2010 | Dec. 31, 2010 | Dec. 31, 2009 | Dec. 31, 2010 | Dec. 31, 2010 | Sep. 30, 2013 | Sep. 30, 2013 | Mar. 30, 2011 | Mar. 30, 2011 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 30, 2010 | Dec. 30, 2010 |
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Longmen Joint Venture [Member] | Longmen Joint Venture [Member] | Longmen Joint Venture [Member] | Longmen Joint Venture [Member] | Longmen Joint Venture [Member] | Longmen Joint Venture [Member] | Longmen Joint Venture [Member] | Longmen Joint Venture [Member] | Longmen Joint Venture [Member] | Longmen Joint Venture [Member] | |
USD ($) | CNY | USD ($) | CNY | USD ($) | CNY | USD ($) | CNY | USD ($) | CNY | ||||||||||||||||||||||||||
Deferred Lease Income [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred Revenue Leases Reimbursement For Dismantled Assets | ' | ' | ' | ' | ' | ' | $0 | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0 | ' | $568 | ' | $11,500 | 70,100 | $11,400 | 70,100 | ' | ' | ' | ' | ' | ' |
Deferred Revenue Leases Reimbursement For Loss Of Efficiency | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | 20,676 | ' | 30,000 | 183,100 | 29,800 | 183,100 | ' | ' | ' | ' | ' | ' |
Deferred Revenue Leases Reimbursement For Trial Production Costs | ' | ' | ' | 0 | 0 | 0 | 13,988 | 14,096 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 14,042 | ' | 13,584 | ' | ' | ' | ' | ' | ' | ' | 14,600 | 89,300 | 14,700 | 89,500 |
Deferred Revenue Leases Lease Income Realized | 542 | 539 | 532 | 528 | 530 | 530 | 525 | 512 | 452 | 277 | 184 | 1,071 | 1,060 | 964 | 320 | 1,613 | 1,588 | 1,489 | 598 | 2,158 | 2,119 | 2,008 | 900 | 943 | ' | ' | ' | ' | 43,900 | 7,200 | 43,900 | ' | ' | ' | ' |
Deferred Revenue, Leases, Net, Total | 77,658 | 77,199 | 77,199 | 77,533 | 78,524 | 78,524 | 78,449 | 57,591 | 57,591 | ' | ' | 77,199 | 78,524 | 57,591 | ' | 77,658 | 77,533 | 78,449 | ' | 77,444 | 77,199 | 78,524 | ' | 57,591 | 16,487 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred Revenue, Leases, Current | $2,178 | $2,164 | $2,132 | $2,115 | $2,117 | $2,116 | $2,091 | $2,067 | ' | ' | ' | $2,164 | $2,117 | $2,067 | ' | $2,178 | $2,115 | $2,091 | ' | $2,187 | $2,120 | $2,099 | ' | $1,971 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred Revenue Leases Reimbursement Term | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '40 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capital_lease_obligation_Detai
Capital lease obligation (Details) (USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2013 |
Capital Lease Obligation Minimum Lease Payments, 2014 | $0 | $5,292 |
Capital Lease Obligation Minimum Lease Payments, 2015 | 126,557 | 4,248 |
Capital Lease Obligation Minimum Lease Payments, 2016 | 28,654 | 4,248 |
Capital Lease Obligation Minimum Lease Payments,2017 | 28,654 | 195,506 |
Capital Lease Obligation Minimum Lease Payments,2018 | 28,654 | 31,057 |
Capital Lease Obligation Minimum Lease Payments, Thereafter | 360,567 | 356,191 |
Capital Lease Obligation Minimum Lease Payments, Total minimum lease payments | 573,086 | 596,542 |
Capital Lease Obligation Minimum Lease Payments, Less: amounts representing interest | -218,510 | -217,202 |
Capital Lease Obligation Minimum Lease Payments, Ending balance | $354,576 | $379,340 |
Capital_lease_obligation_Detai1
Capital lease obligation (Details Textual) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||||||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Sep. 30, 2010 | Jun. 30, 2010 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2011 | Jun. 30, 2010 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 |
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Shaanxi Iron and Steel Group [Member] | Shaanxi Iron and Steel Group [Member] | Shaanxi Iron and Steel Group [Member] | Shaanxi Iron and Steel Group [Member] | Energy Saving Equipment [Member] | Energy Saving Equipment [Member] | |
USD ($) | CNY | USD ($) | CNY | ||||||||||||||||||||||||||
Schedule Of Capital Leased Obligation [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capital Lease Agreement Term | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '20 years | '20 years | ' | ' |
Classification Of Lease, Percentage Base | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 75.00% | 75.00% | ' | ' |
Unified Management Agreement, Percentage Of Pretax Profit | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 40.00% | 40.00% | 40.00% | 40.00% | ' | ' |
Unified Management Agreement, Cost Of Asset | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $2.30 | 14.6 | ' | ' |
Interest Expense On Minimum Lease Payments | 5.1 | 5.1 | 5.1 | 5.1 | 5.2 | 5.2 | 5.1 | 3.4 | 0 | 0 | 0 | 10.2 | 10.4 | 3.4 | 0 | 15.3 | 15.5 | 8.5 | 0 | 20.8 | 20.6 | 18.4 | 0 | ' | ' | ' | ' | ' | ' |
Capital Lease Obligations Incurred | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $18.10 | 110.3 |
Other_income_expense_Details_T
Other income (expense) (Details Textual) | 0 Months Ended | 1 Months Ended | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 1 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||||||
Nov. 08, 2013 | Nov. 08, 2013 | Jun. 14, 2012 | Jun. 14, 2012 | Aug. 31, 2010 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Sep. 30, 2010 | Jun. 30, 2010 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2011 | Jun. 30, 2010 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2010 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 30, 2010 | Dec. 31, 2010 | Nov. 19, 2013 | Dec. 31, 2011 | Dec. 30, 2010 | Nov. 19, 2013 | Nov. 19, 2013 | Nov. 19, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2011 | Jun. 16, 2011 | Aug. 31, 2010 | Jun. 30, 2011 | Sep. 30, 2011 | Dec. 31, 2011 | |
USD ($) | CNY | USD ($) | CNY | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | CNY | USD ($) | CNY | USD ($) | USD ($) | USD ($) | Future [Member] | Future [Member] | Tianjin Dazhan Industry Co Ltd [Member] | Tianjin Dazhan Industry Co Ltd [Member] | Tianjin Dazhan Industry Co Ltd [Member] | Tianjin Dazhan Industry Co Ltd [Member] | Ms.Ding Yumei [Member] | Ms.Ding Yumei [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | ||
USD ($) | USD ($) | USD ($) | USD ($) | CNY | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | ||||||||||||||||||||||||||||||||||||
Lease income | ' | ' | ' | ' | ' | $542,000 | $539,000 | $532,000 | $528,000 | $530,000 | $530,000 | $525,000 | $512,000 | $452,000 | $277,000 | $184,000 | $1,071,000 | $1,060,000 | $964,000 | $320,000 | $1,613,000 | $1,588,000 | $1,489,000 | $598,000 | $2,158,000 | ' | $2,119,000 | ' | $2,008,000 | $900,000 | $943,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue from Grants | 4,200,000 | 26,100,000 | 2,300,000 | 14,200,000 | ' | 0 | ' | ' | 0 | ' | ' | 0 | ' | ' | 1,381,000 | ' | ' | ' | ' | ' | 0 | 0 | 0 | 1,381,000 | 4,216,000 | 26,100,000 | 2,253,000 | 14,200,000 | 0 | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage Of Equity Interest Sold | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 60.00% | ' | ' | 28.00% | 28.00% | 28.00% | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds From Sale Of Equity Interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8,000,000 | 49,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | 13,600,000 | 13,600,000 | 84,300,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage Of Equity Interest Retained | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 32.00% | 32.00% | 32.00% | ' | ' | ' | ' | ' | ' | ' | ' |
Deconsolidation, Related Party, Description | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'At the time of deconsolidation, the fair value of the 32% equity interest retained by General Steel (China) was $15.3 million (RMB 96.3 million), which was based on an independent third-party valuation, while Tianwus carrying value was $48.2 million (RMB 301.0 million). | ' | ' | ' | ' | ' | ' | ' |
Noncontrolling Interest, Decrease from Deconsolidation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20,458,000 | ' | 39,398,000 | ' | ' | ' | ' | ' | ' | ' | ' | 19,400,000 | 121,200,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Cumulative Translation Adjustment, Net of Tax, Period Increase (Decrease) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deconsolidation, Gain (Loss), Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,011,000 | ' | 0 | ' | 0 | ' | 0 | ' | ' | ' | 1,000,000 | 1,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Contribution in Aid of Construction | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,500,000 | 40,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term Debt, Gross | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Market Price Of Common Stock On Debt Settlement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.48 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gain on debt settlement | ' | ' | ' | ' | ' | 0 | 0 | ' | 0 | 0 | ' | 0 | 3,430,000 | ' | 0 | 0 | 0 | 0 | 3,430,000 | 0 | 0 | 0 | 3,430,000 | 0 | 0 | ' | 0 | ' | 3,430,000 | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | 3,400,000 | ' | ' | ' | ' | ' |
Stock Issued During Period Value Debt Repayment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,442,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,900,000 | 4,900,000 | 970 |
Stock Issued During Period Share Debt Repayment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 974,571 | ' | 974,571 | 974,571 | 974,000 |
Debt Conversion, Converted Instrument, Shares Issued | ' | ' | ' | ' | 350,885 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 974,571 | 974,571 | ' | 1,208,791 | ' | ' | ' |
Debt Conversion, Converted Instrument, Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,400,000 | ' | ' | ' | ' | ' |
Debt Instrument, Convertible, Conversion Price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1.48 | ' | ' | ' | ' | ' |
Debt Conversion, Original Debt, Amount | ' | ' | ' | ' | 3,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,800,000 | 4,800,000 | ' | ' | ' | ' | ' |
Gains (Losses) on Extinguishment of Debt, Total | ' | ' | ' | ' | ' | 0 | 0 | ' | 0 | 0 | ' | 0 | 3,430,000 | ' | 0 | 0 | 0 | 0 | 3,430,000 | 0 | 0 | 0 | 3,430,000 | 0 | 0 | ' | 0 | ' | 3,430,000 | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | 3,400,000 | ' | ' | ' | ' | ' |
Noncontrolling Interest, Ownership Percentage by Parent | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 32.00% | ' | ' | ' | ' | ' | ' | ' |
Derivative Instruments Not Designated as Hedging Instruments, Gain | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $400,000 | $1,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Taxes_Details
Taxes (Details) (USD $) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||||||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Sep. 30, 2010 | Jun. 30, 2010 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2011 | Jun. 30, 2010 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Taxes [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Current | $25 | $105 | $71 | $100 | $43 | $367 | $410 | $0 | $750 | $5,332 | $170 | $176 | $410 | $207 | $584 | $201 | $510 | $617 | $860 | $354 | $627 | $175 | $1,267 |
Deferred | 0 | 0 | 0 | 0 | 0 | 169 | 144 | 18,198 | -3,501 | -5,676 | -2,973 | 0 | 169 | 15,240 | -5,324 | 0 | 169 | 15,384 | -5,944 | 0 | 169 | 15,419 | -10,049 |
Total provision for income taxes | $25 | $105 | $71 | $100 | $43 | $536 | $554 | $18,198 | ($2,751) | ($344) | ($2,803) | $176 | $579 | $15,447 | ($4,740) | $201 | $679 | $16,001 | ($5,084) | $354 | $796 | $15,594 | ($8,782) |
Taxes_Details_1
Taxes (Details 1) | 12 Months Ended | |||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |||
Taxes [Line Items] | ' | ' | ' | ' | ||
U.S. Statutory rates | 34.00% | 34.00% | 34.00% | 34.00% | ||
Foreign income not recognized in the U.S. | -34.00% | -34.00% | -34.00% | -34.00% | ||
China income tax rate | 25.00% | 25.00% | 25.00% | 25.00% | ||
Current year tax loss that were not recognized as deferred tax assets | ' | ' | -17.10% | 2.30% | ||
Effect of tax rate differential of subsidiaries/VIE | -12.00% | -8.30% | 13.60% | -12.30% | ||
Effect of change in deferred tax assets valuation allowance | -58.40% | -10.90% | -27.30% | 2.30% | ||
Effect of permanent difference - change in fair value of profit sharing liability | 61.90% | 0.00% | 0.00% | 0.00% | ||
Effect of permanent difference - capital lease obligation for iron and steel production facilities | -17.30% | -6.10% | ' | ' | ||
Total provision for income taxes | -0.80% | [1] | -0.30% | [1] | -5.80% | 15.00% |
[1] | The negative effective tax rates for the years ended December 31, 2013 and 2012 were mainly due to a consolidated loss before income tax while the Company provided 100% valuation allowance for the deferred tax assets at subsidiaries with losses and incurred income tax expenses in our profitable subsidiaries. |
Taxes_Details_2
Taxes (Details 2) (USD $) | 12 Months Ended | 24 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |||
Subsidiaries [Member] | Subsidiaries [Member] | Subsidiaries [Member] | Subsidiaries [Member] | Subsidiaries [Member] | Longmen Joint Venture and Subsidiaries [Member] | Longmen Joint Venture and Subsidiaries [Member] | Longmen Joint Venture and Subsidiaries [Member] | Longmen Joint Venture and Subsidiaries [Member] | Subsidiaries One [Member] | Subsidiaries One [Member] | Subsidiaries One [Member] | Subsidiaries One [Member] | ||||||||||
Taxes [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Beginning balance | $0 | $167,000 | $15,301,000 | $5,044,000 | $5,044,000 | $166,000 | $164,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Effective tax rate | -0.80% | [1] | -0.30% | [1] | -5.80% | 15.00% | ' | ' | ' | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 15.00% | 15.00% | 15.00% | 15.00% | 25.00% | 25.00% | 25.00% | 25.00% |
Addition (deduction) in deferred tax asset | -674,000 | 5,607,000 | 1,528,000 | 320,000 | 8,792,000 | ' | ' | ' | -68,000 | 621,000 | ' | 8,480,000 | 21,581,000 | 14,318,000 | ' | ' | ' | ' | ' | ' | ||
Change In Deferred Tax Assets | 1,542,000 | 4,475,000 | ' | ' | ' | ' | ' | ' | ' | ' | 228,000 | 266,000 | ' | ' | 1,528,000 | 1,273 | ' | ' | ' | ' | ||
Addition in valuation allowance | -22,087,000 | -25,180,000 | -46,914,000 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Deconsolidation of Tongxing | 0 | -216,000 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Exchange difference | -294,000 | 208,000 | -245,000 | -82,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Net operating losses carried forward | -272,000 | 2,484,000 | 912 | 1,062,000 | 912 | ' | ' | ' | ' | ' | ' | ' | 143,873,000 | 95,453,000 | 143,180,000 | 8,488,000 | ' | ' | ' | ' | ||
Deferred Tax Assets, Other Loss Carryforwards | 10,282,000 | 29,836,000 | 58,611,000 | 56,531,000 | 58,611,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -2,697,000 | 22,427,000 | 6,112,000 | 1,281,000 | ||
Total (A+B+C+D+E+F+G+H) | $0 | $0 | $167,000 | $15,301,000 | $167,000 | $166,000 | $164,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
[1] | The negative effective tax rates for the years ended December 31, 2013 and 2012 were mainly due to a consolidated loss before income tax while the Company provided 100% valuation allowance for the deferred tax assets at subsidiaries with losses and incurred income tax expenses in our profitable subsidiaries. |
Taxes_Details_3
Taxes (Details 3) (USD $) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||
In Thousands, unless otherwise specified | Mar. 31, 2013 | Mar. 31, 2012 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Taxes [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Beginning balance | $72,891 | $47,703 | $72,891 | $47,703 | $0 | $72,891 | $47,703 | $0 | $72,891 | $47,703 | $0 | $0 |
Current period addition | 2,912 | 7,194 | 11,006 | 13,868 | 19,571 | 12,776 | 22,144 | 23,670 | 23,293 | 25,180 | 46,914 | 0 |
Current period reversal | -465 | 0 | -694 | 0 | 0 | -857 | 0 | 0 | -1,206 | 0 | 0 | 0 |
Deconsolidation of Tongxing | 0 | -216 | 0 | -216 | ' | 0 | -216 | ' | 0 | -216 | 0 | 0 |
Exchange difference | 417 | 198 | 1,626 | 202 | ' | 2,125 | 185 | 131 | 2,591 | 224 | 789 | 0 |
Ending balance | $75,755 | $54,879 | $84,829 | $61,557 | $19,571 | $86,935 | $69,816 | $23,801 | $97,569 | $72,891 | $47,703 | $0 |
Taxes_Details_4
Taxes (Details 4) (USD $) | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Dec. 31, 2010 |
In Thousands, unless otherwise specified | ||||||||||||
Taxes [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
VAT taxes payable | $2,211 | $7,309 | $6,993 | $8,432 | $13,579 | $3,869 | $2,351 | $30 | $4,856 | $6,402 | $7,818 | $3,921 |
Income taxes payable | 173 | 20 | 67 | 44 | 68 | 124 | 153 | 147 | 96 | 873 | 586 | 840 |
Misc. taxes | 2,244 | 2,387 | 3,250 | 3,858 | 3,027 | 2,505 | 4,417 | 5,178 | 6,422 | 4,745 | 4,286 | 1,476 |
Total | $4,628 | $9,716 | $10,310 | $12,334 | $16,674 | $6,498 | $6,921 | $5,355 | $11,374 | $12,020 | $12,690 | $6,237 |
Taxes_Details_Textual
Taxes (Details Textual) (USD $) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||
Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Sep. 30, 2010 | Jun. 30, 2010 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2011 | Jun. 30, 2010 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2009 | |||
Taxes [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Effective Income Tax Rate Reconciliation, Percent, Total | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -0.80% | [1] | -0.30% | [1] | -5.80% | 15.00% | ' |
Preferential Tax Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15.00% | ' | ' | ' | 15.00% | ' | ' | ' | ' | ||
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration | $436,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $436,900,000 | ' | ' | ' | $493,700,000 | ' | ' | ' | ' | ||
Percentage Of Deferred Tax Asset | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ||
Net operating losses carried forward | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -272,000 | 2,484,000 | 912 | 1,062,000 | ' | ||
Valuation Allowance, Deferred Tax Asset, Change in Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 22,087,000 | 25,180,000 | 46,914,000 | 0 | ' | ||
Value Added Tax Receivable | 3,100,000 | 3,000,000 | 3,400,000 | 2,300,000 | 2,900,000 | 1,600,000 | 15,200,000 | 15,500,000 | ' | ' | ' | 3,000,000 | 2,900,000 | 15,500,000 | ' | 3,100,000 | 2,300,000 | 15,200,000 | ' | 3,500,000 | 4,200,000 | 5,800,000 | 37,300,000 | ' | ||
Value Added Tax On Sales | 160,500,000 | 164,800,000 | 183,200,000 | 209,700,000 | 226,100,000 | 179,500,000 | 307,300,000 | 253,700,000 | 214,500,000 | 128,100,000 | 141,000,000 | 353,200,000 | 407,300,000 | 468,200,000 | 258,500,000 | 513,700,000 | 620,600,000 | 775,500,000 | 386,700,000 | 751,600,000 | 713,500,000 | 985,900,000 | 934,200,000 | ' | ||
Value Added Tax On Purchases | 156,200,000 | 154,400,000 | 183,800,000 | 206,700,000 | 216,000,000 | 171,300,000 | 301,100,000 | 251,100,000 | 176,900,000 | 131,400,000 | 138,600,000 | 338,200,000 | 387,400,000 | 428,000,000 | 226,400,000 | 494,400,000 | 594,100,000 | 729,000,000 | 357,800,000 | 812,400,000 | 985,900,000 | 519,000,000 | 482,400,000 | ' | ||
Deferred Tax Assets, Valuation Allowance | 86,935,000 | 84,829,000 | 75,755,000 | 69,816,000 | 61,557,000 | 54,879,000 | 23,801,000 | 19,571,000 | ' | ' | ' | 84,829,000 | 61,557,000 | 19,571,000 | ' | 86,935,000 | 69,816,000 | 23,801,000 | ' | 97,569,000 | 72,891,000 | 47,703,000 | 0 | 0 | ||
Tax Initiative Extension Period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '10 years | ' | ' | ' | '10 years | ' | ' | ' | ' | ||
Deferred Tax Asset Valuation Allowance Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | 100.00% | ' | ' | ' | ' | ||
Tax Rate Concession Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15.00% | ' | ' | ' | ' | ||
Deferred Tax Assets Valuation Period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | ' | ' | '5 years | ' | ' | ' | ' | ||
UNITED STATES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Taxes [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Percentage Of Deferred Tax Asset | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | 100.00% | ' | ' | ' | ||
Valuation Allowance, Deferred Tax Asset, Change in Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ||
Deferred Tax Assets, Valuation Allowance | 500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ||
Operating Loss Carryforwards, Date Expiration | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'The net operating loss carry forwards for United States income taxes amounted to $1.6 million, which may be available to reduce future years taxable income. These carry forwards will expire, if not utilized, starting from 2026 through 2032. | ' | ' | ' | 'The net operating loss carry forwards for United States income taxes amounted to $1.9 million, which may be available to reduce future years taxable income. These carry forwards will expire, if not utilized, starting from 2026 through 2032. | ' | ' | ' | ' | ||
Deferred Tax Asset Valuation Allowance Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ||
Subsidiaries [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Taxes [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Effective Income Tax Rate Reconciliation, Percent, Total | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25.00% | ' | ' | ' | 25.00% | 25.00% | 25.00% | 25.00% | ' | ||
Subsidiaries [Member] | UNITED STATES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Taxes [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Net operating losses carried forward | $100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ||
Subsidiaries [Member] | Longmen Joint Venture [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Taxes [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Effective Income Tax Rate Reconciliation, Percent, Total | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15.00% | ' | ' | ' | 15.00% | ' | ' | ' | ' | ||
Maximum [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Taxes [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Value Added Tax Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 17.00% | ' | ' | ' | 17.00% | ' | ' | ' | ' | ||
Minimum [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Taxes [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Value Added Tax Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13.00% | ' | ' | ' | 13.00% | ' | ' | ' | ' | ||
[1] | The negative effective tax rates for the years ended December 31, 2013 and 2012 were mainly due to a consolidated loss before income tax while the Company provided 100% valuation allowance for the deferred tax assets at subsidiaries with losses and incurred income tax expenses in our profitable subsidiaries. |
Inventories_Details_Textual
Inventories (Details Textual) (USD $) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||
In Thousands, unless otherwise specified | Mar. 31, 2013 | Mar. 31, 2012 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Inventory Write-down | $13,400 | $13,400 | $13,800 | $16,900 | $1,300 | $7,300 | $14,000 | $2,700 | $0 | $38,500 | $37,512 | $1,061 |
Loss_per_share_Details
Loss per share (Details) (USD $) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||||||||||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Sep. 30, 2010 | Jun. 30, 2010 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2011 | Jun. 30, 2010 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Loss attributable to holders of common stock (in dollars) | $3,801 | ($39,818) | $3,103 | ($41,598) | ($26,377) | ($34,784) | ($13,830) | ($22,915) | ($8,917) | ($3,784) | ($2,004) | ($36,715) | ($61,161) | ($31,832) | ($7,616) | ($32,914) | ($102,759) | ($45,662) | ($11,400) | ($33,016) | ($152,697) | ($177,187) | ($30,006) |
Basic and diluted weighted average number of common shares outstanding (in shares) | 55,141 | 54,980 | 54,805 | 54,466 | 54,857 | 55,520 | 55,166 | 54,318 | 54,840 | 53,941 | 52,112 | 54,893 | 55,188 | 54,233 | 51,883 | 54,976 | 54,946 | 54,547 | 52,577 | 55,126 | 54,867 | 54,750 | 53,113 |
Loss per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic and diluted | $0.07 | ($0.72) | $0.06 | ($0.76) | ($0.48) | ($0.63) | ($0.25) | ($0.42) | ($0.16) | ($0.07) | ($0.04) | ($0.67) | ($1.11) | ($0.59) | ($0.15) | ($0.60) | ($1.87) | ($0.84) | ($0.22) | ($0.60) | ($2.78) | ($3.24) | ($0.56) |
Loss_per_share_Details_Textual
Loss per share (Details Textual) | Dec. 31, 2012 | Sep. 30, 2012 |
Warrants Exercisable | 3,900,871 | 3,900,871 |
Related_party_transactions_and2
Related party transactions and balances (Details) (USD $) | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Dec. 31, 2010 |
In Thousands, unless otherwise specified | ||||||||||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Machinery | $623,895 | $603,248 | $599,547 | $590,665 | $587,334 | $585,854 | $586,594 | $586,224 | $581,413 | $579,192 | $572,531 | $0 |
Less: accumulated depreciation | -77,086 | -69,248 | -61,703 | -53,775 | -46,497 | -39,423 | -32,507 | -25,525 | -18,411 | -11,463 | -4,533 | 0 |
Carrying value of leased assets | 546,809 | 534,000 | 537,844 | 536,890 | 540,837 | 546,431 | 554,087 | 560,699 | 563,002 | 567,729 | 567,998 | 0 |
Shaanxi Coal and Shaanxi Steel [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Machinery | 605,839 | 603,248 | 599,547 | 590,665 | 587,334 | 585,854 | 586,594 | 586,224 | 581,413 | 579,192 | 572,531 | 0 |
Less: accumulated depreciation | -76,740 | -69,248 | -61,703 | -53,775 | -46,497 | -39,423 | -32,507 | -25,525 | -18,411 | -11,463 | -4,533 | 0 |
Carrying value of leased assets | $529,099 | $534,000 | $537,844 | $536,890 | $540,837 | $546,431 | $554,087 | $560,699 | $563,002 | $567,729 | $567,998 | $0 |
Related_party_transactions_and3
Related party transactions and balances (Details 1) (USD $) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Sep. 30, 2010 | Jun. 30, 2010 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2011 | Jun. 30, 2010 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Related Party Relationship | ' | ' | ' | ' | ' | ' | 'Significant influence by Long Steel Group | [1] | ' | ' | ' | ' | ' | ' | ' | ' | 'Relationship | 'Relationship | ' | ' | 'Partially owned by CEO through indirect shareholding | ' | ' | ' | ||||
Revenue from Related Parties | $95,546 | $136,301 | $148,860 | $192,883 | $241,697 | $264,244 | $335,724 | $247,132 | $208,985 | $119,574 | $118,506 | $285,161 | $505,941 | $456,117 | $253,901 | $380,707 | $698,824 | $791,841 | $373,475 | $447,199 | $897,202 | $1,111,769 | $489,370 | |||||
Long Steel Group [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Related Party Relationship | 'Noncontrolling shareholder of Longmen Joint Venture | 'Noncontrolling shareholder of Longmen Joint Venture | 'Noncontrolling shareholder of Longmen Joint Venture | ' | ' | ' | 'Non-controlling shareholder of Longmen Joint Venture | 'Non-controlling shareholder of Longmen Joint Venture | ' | ' | ' | 'Noncontrolling shareholder of Longmen Joint Venture | ' | 'Non-controlling shareholder of Longmen Joint Venture | ' | 'Noncontrolling shareholder of Longmen Joint Venture | 'Noncontrolling shareholder of Longmen Joint Venture | 'Non-controlling shareholder of Longmen Joint Venture | ' | 'Noncontrolling shareholder of Longmen Joint Venture | ' | ' | ' | |||||
Revenue from Related Parties | 63,793 | 82,286 | 80,675 | 123,631 | 140,648 | 96,541 | 118,181 | 35,273 | 144,173 | 79,244 | 79,215 | 162,961 | 237,189 | 179,446 | 183,668 | 226,754 | 360,820 | 297,162 | 262,912 | 255,859 | 438,951 | 337,359 | 344,556 | |||||
Tianjin Hengying Trading Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Related Party Relationship | ' | ' | 'Common control under CEO | ' | ' | ' | 'Partially owned by CEO through indirect shareholding | [2] | 'Partially owned by CEO through indirect shareholding | ' | ' | ' | ' | ' | 'Partially owned by CEO through indirect shareholding | ' | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | ' | 'Partially owned by CEO through indirect shareholding | [1] | ' | ' | ' | |||
Revenue from Related Parties | ' | ' | 0 | ' | ' | 0 | 26,742 | 30,982 | 25,486 | 14,036 | 9,418 | ' | ' | 56,468 | 19,268 | ' | ' | 83,210 | 33,304 | 0 | 5,953 | 94,984 | 47,268 | |||||
Sichuan Yutai Trading Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Related Party Relationship | 'Significant influence by Long Steel Group | [2] | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | ' | ' | ' | 'Significant influence by Long Steel Group | [1] | 'Significant influence by Long Steel Group | [1] | ' | ' | ' | 'Significant influence by Long Steel Group | ' | 'Significant influence by Long Steel Group | ' | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | ' | 'Significant influence by Long Steel Group | [2] | ' | ' | ' | |
Revenue from Related Parties | 0 | [2] | 0 | 72 | 16,998 | [2] | 54,110 | 76,739 | 57,350 | 62,910 | ' | 0 | 0 | 72 | 130,849 | 62,910 | 0 | 72 | 147,847 | 120,260 | 0 | 73 | 147,968 | 187,689 | 0 | |||
Shaanxi Yuchang Trading Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Related Party Relationship | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | ' | ' | ' | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | ' | ' | ' | 'Significant influence by Long Steel Group | ' | 'Significant influence by Long Steel Group | ' | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | ' | 'Significant influence by Long Steel Group | ' | ' | ' | |||||
Revenue from Related Parties | 1,081 | 5,975 | 14,435 | 0 | 0 | 41,482 | 45,792 | 40,115 | 0 | 0 | 0 | 20,410 | 41,433 | 40,115 | 0 | 21,491 | 41,433 | 85,907 | 0 | 21,570 | 92,724 | 160,422 | 0 | |||||
Shaanxi Haiyan Trade Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Related Party Relationship | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | ' | ' | ' | ' | ' | ' | ' | ' | 'Significant influence by Long Steel Group | ' | ' | ' | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | ' | ' | 'Significant influence by Long Steel Group | ' | ' | ' | |||||
Revenue from Related Parties | 85 | 5,004 | 10,592 | 12,480 | 16,091 | 14,444 | ' | ' | 0 | ' | ' | 15,596 | 30,535 | ' | ' | 15,681 | 43,015 | ' | ' | 16,273 | 46,998 | 58,299 | 38,545 | |||||
Shaanxi Shenganda Trading Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Related Party Relationship | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | ' | ' | ' | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | ' | ' | ' | 'Significant influence by Long Steel Group | ' | 'Significant influence by Long Steel Group | ' | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | ' | 'Significant influence by Long Steel Group | ' | ' | ' | |||||
Revenue from Related Parties | 19,866 | 18,393 | 18,286 | 7,599 | 9,566 | 16,967 | 12,278 | 16,150 | 0 | 0 | 0 | 36,679 | 26,533 | 16,150 | 0 | 56,545 | 34,132 | 28,428 | 0 | 77,899 | 53,866 | 37,432 | 0 | |||||
Shaanxi Steel [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Related Party Relationship | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | ' | ' | ' | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | ' | ' | ' | 'Majority shareholder of Long Steel Group | ' | 'Majority shareholder of Long Steel Group | ' | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | ' | 'Majority shareholder of Long Steel Group | ' | ' | ' | |||||
Revenue from Related Parties | 979 | 448 | 963 | 25 | 27 | 582 | 4,826 | 579 | 521 | 1,035 | 933 | 1,411 | 609 | 1,100 | 933 | 2,390 | 634 | 5,926 | 1,968 | 3,221 | 3,332 | 19,735 | 1,152 | |||||
Shaanxi Coal and Chemical Industry Group Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Related Party Relationship | 'Shareholder of Shaanxi Steel | 'Shareholder of Shaanxi Steel | 'Shareholder of Shaanxi Steel | ' | ' | ' | ' | ' | ' | ' | ' | 'Shareholder of Shaanxi Steel | ' | ' | ' | 'Shareholder of Shaanxi Steel | ' | ' | ' | 'Shareholder of Shaanxi Steel | ' | ' | ' | |||||
Revenue from Related Parties | 7,951 | 12,792 | 1,834 | 0 | 0 | 0 | ' | ' | 0 | ' | ' | 14,626 | 0 | ' | ' | 22,577 | 0 | ' | ' | 27,911 | 24,515 | 0 | 0 | |||||
Shaanxi Long Steel Group Baoji Steel Rolling Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Related Party Relationship | 'Subsidiary of Long Steel Group | 'Subsidiary of Long Steel Group | 'Subsidiary of Long Steel Group | ' | ' | ' | ' | ' | ' | ' | ' | 'Subsidiary of Long Steel Group | ' | ' | ' | 'Subsidiary of Long Steel Group | 'Subsidiary of Long Steel Group | 'Subsidiary of Long Steel Group | ' | 'Subsidiary of Long Steel Group | ' | ' | ' | |||||
Revenue from Related Parties | 9 | 114 | 1,999 | 11,392 | 12,756 | 7,337 | ' | ' | 0 | ' | ' | 2,113 | 20,093 | ' | ' | 2,122 | 31,485 | ' | ' | 7,325 | 35,542 | 69,872 | 0 | |||||
Shaanxi Junlong Rolling Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Related Party Relationship | 'Investee of Long Steel Group | 'Investee of Long Steel Group | 'Investee of Long Steel Group | ' | ' | ' | ' | ' | ' | ' | ' | 'Investee of Long Steel Group | ' | ' | ' | 'Investee of Long Steel Group | 'Investee of Long Steel Group | 'Investee of Long Steel Group | ' | 'Investee of Long Steel Group | ' | ' | ' | |||||
Revenue from Related Parties | 1,782 | 11,289 | 20,004 | 20,758 | 7,170 | 10,037 | ' | ' | 0 | ' | ' | 31,293 | 17,207 | ' | ' | 33,075 | 37,965 | ' | ' | 37,068 | 47,110 | 48,991 | 0 | |||||
Others [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Related Party Relationship | 'Entities either owned or have significant influence by our affiliates or management | 'Entities either owned or have significant influence by our affiliates or management | 'Entities either owned or have significant influence by our affiliates or management | ' | ' | ' | 'Entities either owned or have significant influence by our affiliates or management | 'Entities either owned or have significant influence by our affiliates or management | ' | ' | ' | 'Entities either owned or have significant influence by our affiliates or management | ' | 'Entities either owned or have significant influence by our affiliates or management | ' | 'Entities either owned or have significant influence by our affiliates or management | 'Entities either owned or have significant influence by our affiliates or management | 'Entities either owned or have significant influence by our affiliates or management | ' | 'Entities either owned or have significant influence by our affiliates or management | ' | ' | ' | |||||
Revenue from Related Parties | 0 | 0 | 0 | 0 | 1,329 | 115 | 2,576 | 784 | 1 | 2,075 | 941 | 0 | 1,493 | 785 | 991 | 0 | 1,493 | 3,361 | 3,066 | 0 | 243 | 842 | 183 | |||||
Tianjin Dazhan Industry Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Related Party Relationship | ' | ' | 'Common control under CEO | ' | ' | ' | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | ' | ' | ' | ' | ' | 'Partially owned by CEO through indirect shareholding | ' | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | ' | 'Partially owned by CEO through indirect shareholding | ' | ' | ' | |||||
Revenue from Related Parties | ' | ' | 0 | ' | ' | 0 | 24,348 | 23,030 | 20,261 | 13,381 | 15,903 | ' | ' | 43,291 | 15,903 | ' | ' | 67,639 | 29,284 | 0 | 0 | 76,130 | 43,778 | |||||
Tianjin General Quigang Pipe Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Related Party Relationship | ' | ' | 'Partially owned by CEO through indirect shareholding | ' | ' | ' | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | ' | ' | ' | ' | ' | 'Partially owned by CEO through indirect shareholding | ' | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | ' | 'Partially owned by CEO through indirect shareholding | ' | ' | ' | |||||
Revenue from Related Parties | ' | ' | 0 | ' | ' | 0 | 9,305 | 3,512 | 7,150 | ' | 0 | ' | ' | 10,662 | 0 | ' | ' | 19,967 | 0 | 0 | 0 | 20,014 | 0 | |||||
Beijing Daishang Trading Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Related Party Relationship | 'Noncontrolling shareholder of Longmen Joint Venture’s subsidiary | 'Noncontrolling shareholder of Longmen Joint Venture’s subsidiary | 'Noncontrolling shareholder of Longmen Joint Venture’s subsidiary | ' | ' | ' | 'Non-controlling shareholder of Longmen Joint Venture’s subsidiary | 'Non-controlling shareholder of Longmen Joint Venture’s subsidiary | ' | ' | ' | 'Noncontrolling shareholder of Longmen Joint Venture’s subsidiary | ' | 'Non-controlling shareholder of Longmen Joint Venture’s subsidiary | ' | 'Noncontrolling shareholder of Longmen Joint Venture’s subsidiary | 'Noncontrolling shareholder of Longmen Joint Venture’s subsidiary | 'Non-controlling shareholder of Longmen Joint Venture’s subsidiary | ' | 'Noncontrolling shareholder of Longmen Joint Venture’s subsidiary | ' | ' | ' | |||||
Revenue from Related Parties | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | 15 | 3,051 | ' | ' | 0 | 5,456 | ' | ' | 0 | 5,471 | 0 | 0 | 0 | 5,503 | |||||
Tianjin Daqiuzhuang Steel Plates Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Related Party Relationship | ' | ' | ' | ' | ' | ' | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | ' | ' | ' | ' | ' | 'Partially owned by CEO through indirect shareholding | ' | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | ' | 'Partially owned by CEO through indirect shareholding | ' | ' | ' | |||||
Revenue from Related Parties | ' | ' | ' | ' | ' | ' | ' | 0 | ' | 23 | 2 | ' | ' | 0 | 8,314 | ' | ' | 0 | 8,337 | 0 | 0 | 0 | 8,385 | |||||
Hancheng Haiyan Coking Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Related Party Relationship | 'Noncontrolling shareholder of Long Steel Group | 'Noncontrolling shareholder of Long Steel Group | 'Investee of Long Steel Group | ' | ' | ' | 'Non-controlling shareholder of Long Steel Group | 'Non-controlling shareholder of Long Steel Group | ' | ' | ' | 'Noncontrolling shareholder of Long Steel Group | ' | 'Non-controlling shareholder of Long Steel Group | ' | 'Noncontrolling shareholder of Long Steel Group | 'Non-controlling shareholder of Longmen Joint Venture | 'Non-controlling shareholder of Long Steel Group | ' | 'Noncontrolling shareholder of Long Steel Group | ' | ' | ' | |||||
Revenue from Related Parties | ' | ' | 0 | ' | ' | 0 | 18,231 | 13,716 | 11,393 | 9,765 | 9,043 | ' | ' | 25,109 | 19,368 | ' | ' | 43,340 | 29,133 | ' | ' | ' | ' | |||||
Junlong Steel Rolling Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Related Party Relationship | ' | ' | ' | ' | ' | ' | 'Joint Stock company of Long Steel Group | 'Joint stock company of Long Steel Group | ' | ' | ' | ' | ' | 'Joint Stock company of Long Steel Group | ' | ' | ' | 'Joint Stock company of Long Steel Group | ' | ' | ' | ' | ' | |||||
Revenue from Related Parties | ' | ' | ' | ' | ' | ' | 16,090 | 20,081 | ' | 0 | 0 | ' | ' | 20,081 | 0 | ' | ' | 36,171 | 0 | ' | ' | ' | ' | |||||
Shaanxi Huafu New Energy Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Related Party Relationship | 'Significant influence by the Long Steel Group | 'Significant influence by the Long Steel Group | 'Significant influence by the Long Steel Group | ' | ' | ' | 'Significant influence by Long Steel Group | ' | ' | ' | ' | 'Significant influence by the Long Steel Group | ' | ' | ' | 'Significant influence by the Long Steel Group | 'Significant influence by Long Steel Group | 'Significant influence by the Company | ' | 'Significant influence by the Long Steel Group | ' | ' | ' | |||||
Revenue from Related Parties | ' | ' | ' | ' | ' | ' | $5 | ' | ' | $0 | ' | ' | ' | ' | ' | ' | ' | $470 | $0 | ' | ' | ' | ' | |||||
[1] | The CEO is referred to herein as the chief executive officer of General Steel Holdings, Inc. | |||||||||||||||||||||||||||
[2] | Long Steel Group has the ability to significantly influence the operating and financial decisions of the entity through equity ownership either directly or through key employees, commercial contractual terms, or the ability to assign management personnel. |
Related_party_transactions_and4
Related party transactions and balances (Details 2) (USD $) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||||||||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Sep. 30, 2010 | Jun. 30, 2010 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2011 | Jun. 30, 2010 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | ||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Relationship | ' | ' | ' | ' | ' | ' | 'Significant influence by Long Steel Group | [1] | ' | ' | ' | ' | ' | ' | ' | ' | 'Relationship | 'Relationship | ' | ' | 'Partially owned by CEO through indirect shareholding | ' | ' | ' | |
Related Party Transaction, Purchases from Related Party | $146,438 | $234,099 | $193,385 | $203,085 | $229,190 | $338,838 | $552,819 | $347,732 | $299,109 | $147,733 | $210,700 | $427,484 | $568,028 | $646,841 | $379,979 | $573,922 | $771,113 | $1,199,660 | $527,712 | $886,401 | $929,005 | $1,428,553 | $799,723 | ||
Long Steel Group [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Relationship | 'Noncontrolling shareholder of Longmen Joint Venture | 'Noncontrolling shareholder of Longmen Joint Venture | 'Noncontrolling shareholder of Longmen Joint Venture | ' | ' | ' | 'Non-controlling shareholder of Longmen Joint Venture | 'Non-controlling shareholder of Longmen Joint Venture | ' | ' | ' | 'Noncontrolling shareholder of Longmen Joint Venture | ' | 'Non-controlling shareholder of Longmen Joint Venture | ' | 'Noncontrolling shareholder of Longmen Joint Venture | 'Noncontrolling shareholder of Longmen Joint Venture | 'Non-controlling shareholder of Longmen Joint Venture | ' | 'Noncontrolling shareholder of Longmen Joint Venture | ' | ' | ' | ||
Related Party Transaction, Purchases from Related Party | 101,606 | 170,005 | 104,493 | 123,637 | 128,286 | 202,024 | 418,537 | 225,597 | 194,361 | 96,753 | 141,088 | 274,498 | 330,310 | 419,958 | 253,840 | 376,104 | 453,947 | 838,495 | 350,593 | 522,295 | 483,058 | 913,850 | 553,752 | ||
Tianjin Hengying Trading Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Relationship | ' | ' | 'Common control under CEO | ' | ' | ' | 'Partially owned by CEO through indirect shareholding | [2] | 'Partially owned by CEO through indirect shareholding | ' | ' | ' | ' | ' | 'Partially owned by CEO through indirect shareholding | ' | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | ' | 'Partially owned by CEO through indirect shareholding | [1] | ' | ' | ' |
Related Party Transaction, Purchases from Related Party | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 43,160 | 0 | 0 | ||
Tianjin General Qiugang Pipe Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Relationship | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | ' | 'Partially owned by CEO through indirect shareholding | ' | ' | ' | ||
Related Party Transaction, Purchases from Related Party | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 6,933 | 0 | 0 | ||
Hancheng Jinma Coking Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Relationship | ' | ' | 'Investee of Longmen Joint Venture’s subsidiary(unconsolidated) | ' | ' | ' | 'Equity investee of Longmen Joint Venture’s subsidiary (unconsolidated) | 'Equity investee of Longmen Joint Venture’s subsidiary (unconsolidated) | ' | ' | ' | ' | ' | 'Equity investee of Longmen Joint Venture’s subsidiary (unconsolidated) | ' | ' | ' | 'Equity investee of Longmen Joint Venture’s subsidiary (unconsolidated) | ' | 'Investee of Longmen Joint Venture’s subsidiary (unconsolidated) | ' | ' | ' | ||
Related Party Transaction, Purchases from Related Party | ' | ' | 0 | ' | ' | 0 | 0 | 28 | 4,689 | 1,463 | 3,551 | ' | ' | 4,717 | 6,978 | ' | ' | 4,717 | 8,441 | 0 | 0 | 4,772 | 8,489 | ||
Hancheng Haiyan Coking Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Relationship | 'Noncontrolling shareholder of Long Steel Group | 'Noncontrolling shareholder of Long Steel Group | 'Investee of Long Steel Group | ' | ' | ' | 'Non-controlling shareholder of Long Steel Group | 'Non-controlling shareholder of Long Steel Group | ' | ' | ' | 'Noncontrolling shareholder of Long Steel Group | ' | 'Non-controlling shareholder of Long Steel Group | ' | 'Noncontrolling shareholder of Long Steel Group | 'Non-controlling shareholder of Longmen Joint Venture | 'Non-controlling shareholder of Long Steel Group | ' | 'Noncontrolling shareholder of Long Steel Group | ' | ' | ' | ||
Related Party Transaction, Purchases from Related Party | 31,331 | 53,193 | 63,798 | 47,487 | 72,390 | 75,984 | 102,535 | 105,220 | 100,036 | 49,060 | 65,777 | 116,991 | 148,374 | 205,256 | 117,835 | 148,322 | 195,861 | 307,791 | 166,895 | 180,401 | 255,800 | 391,065 | 234,479 | ||
Xi'an Pinghe Metallurgical Raw Material Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Relationship | 'Noncontrolling shareholder of Long Steel Group | 'Noncontrolling shareholder of Long Steel Group | 'Noncontrolling shareholder of Long Steel Group | ' | ' | ' | 'Non-controlling shareholder of Long Steel Group | 'Non-controlling shareholder of Long Steel Group | ' | ' | ' | 'Noncontrolling shareholder of Long Steel Group | ' | 'Non-controlling shareholder of Long Steel Group | ' | 'Noncontrolling shareholder of Long Steel Group | 'Noncontrolling shareholder of Long Steel Group | 'Non-controlling shareholder of Long Steel Group | ' | 'Noncontrolling shareholder of Long Steel Group | ' | ' | ' | ||
Related Party Transaction, Purchases from Related Party | 1,181 | 742 | 11,755 | 16,674 | 15,196 | 51,381 | 14,727 | 12,914 | 0 | 0 | 0 | 12,497 | 66,577 | 12,914 | 0 | 13,678 | 83,251 | 27,641 | 0 | 19,943 | 88,094 | 37,890 | 0 | ||
Shaanxi Long Steel Group Baoji Steel Rolling Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Relationship | 'Subsidiary of Long Steel Group | 'Subsidiary of Long Steel Group | 'Subsidiary of Long Steel Group | ' | ' | ' | ' | ' | ' | ' | ' | 'Subsidiary of Long Steel Group | ' | ' | ' | 'Subsidiary of Long Steel Group | 'Subsidiary of Long Steel Group | 'Subsidiary of Long Steel Group | ' | 'Subsidiary of Long Steel Group | ' | ' | ' | ||
Related Party Transaction, Purchases from Related Party | 0 | 0 | 53 | 1,568 | 2,220 | 1,544 | ' | ' | 0 | ' | ' | 53 | 3,764 | ' | ' | 53 | 5,332 | ' | ' | 0 | 6,379 | 19,076 | 0 | ||
Shaanxi Junlong Rolling Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Relationship | 'Investee of Long Steel Group | 'Investee of Long Steel Group | 'Investee of Long Steel Group | ' | ' | ' | ' | ' | ' | ' | ' | 'Investee of Long Steel Group | ' | ' | ' | 'Investee of Long Steel Group | 'Investee of Long Steel Group | 'Investee of Long Steel Group | ' | 'Investee of Long Steel Group | ' | ' | ' | ||
Related Party Transaction, Purchases from Related Party | 1 | 1 | 210 | 2,257 | 26 | 2,134 | ' | ' | 0 | ' | ' | 211 | 2,160 | ' | ' | 212 | 4,417 | ' | ' | 213 | 7,334 | 19,110 | 0 | ||
Shaanxi Huafu New Energy Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Relationship | 'Significant influence by the Long Steel Group | 'Significant influence by the Long Steel Group | 'Significant influence by the Long Steel Group | ' | ' | ' | 'Significant influence by Long Steel Group | ' | ' | ' | ' | 'Significant influence by the Long Steel Group | ' | ' | ' | 'Significant influence by the Long Steel Group | 'Significant influence by Long Steel Group | 'Significant influence by the Company | ' | 'Significant influence by the Long Steel Group | ' | ' | ' | ||
Related Party Transaction, Purchases from Related Party | 10,529 | 8,560 | 9,529 | 10,322 | 8,744 | 5,281 | 15,123 | ' | 0 | 0 | ' | 18,089 | 14,025 | ' | ' | 28,618 | 24,347 | 15,123 | 0 | 32,824 | 32,693 | 34,810 | 0 | ||
Beijing Daishang Trading Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Relationship | 'Noncontrolling shareholder of Longmen Joint Venture’s subsidiary | 'Noncontrolling shareholder of Longmen Joint Venture’s subsidiary | 'Noncontrolling shareholder of Longmen Joint Venture’s subsidiary | ' | ' | ' | 'Non-controlling shareholder of Longmen Joint Venture’s subsidiary | 'Non-controlling shareholder of Longmen Joint Venture’s subsidiary | ' | ' | ' | 'Noncontrolling shareholder of Longmen Joint Venture’s subsidiary | ' | 'Non-controlling shareholder of Longmen Joint Venture’s subsidiary | ' | 'Noncontrolling shareholder of Longmen Joint Venture’s subsidiary | 'Noncontrolling shareholder of Longmen Joint Venture’s subsidiary | 'Non-controlling shareholder of Longmen Joint Venture’s subsidiary | ' | 'Noncontrolling shareholder of Longmen Joint Venture’s subsidiary | ' | ' | ' | ||
Related Party Transaction, Purchases from Related Party | 1,726 | 1,432 | 3,477 | 1,049 | 2,202 | 402 | 1,704 | 3,364 | 0 | 108 | 0 | 4,909 | 2,604 | 3,364 | 1,011 | 6,635 | 3,653 | 5,068 | 1,119 | 6,933 | 5,400 | 0 | 0 | ||
Shaanxi Coal and Chemical Industry Group Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Relationship | 'Shareholder of Shaanxi Steel | 'Shareholder of Shaanxi Steel | 'Shareholder of Shaanxi Steel | ' | ' | ' | ' | ' | ' | ' | ' | 'Shareholder of Shaanxi Steel | ' | ' | ' | 'Shareholder of Shaanxi Steel | ' | ' | ' | 'Shareholder of Shaanxi Steel | ' | ' | ' | ||
Related Party Transaction, Purchases from Related Party | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 26,047 | 0 | 0 | 0 | ||
Tianwu General Steel Material Trading Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Relationship | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | ' | 'Investee of General Steel (China) | ' | ' | ' | ||
Related Party Transaction, Purchases from Related Party | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 76,735 | 0 | 0 | 0 | ||
Shaanxi Shenganda Trading Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Relationship | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | ' | ' | ' | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | ' | ' | ' | 'Significant influence by Long Steel Group | ' | 'Significant influence by Long Steel Group | ' | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | ' | 'Significant influence by Long Steel Group | ' | ' | ' | ||
Related Party Transaction, Purchases from Related Party | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20,213 | 0 | 0 | 0 | ||
Others [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Relationship | 'Entities either owned or have significant influence by our affiliates or management | 'Entities either owned or have significant influence by our affiliates or management | 'Entities either owned or have significant influence by our affiliates or management | ' | ' | ' | 'Entities either owned or have significant influence by our affiliates or management | 'Entities either owned or have significant influence by our affiliates or management | ' | ' | ' | 'Entities either owned or have significant influence by our affiliates or management | ' | 'Entities either owned or have significant influence by our affiliates or management | ' | 'Entities either owned or have significant influence by our affiliates or management | 'Entities either owned or have significant influence by our affiliates or management | 'Entities either owned or have significant influence by our affiliates or management | ' | 'Entities either owned or have significant influence by our affiliates or management | ' | ' | ' | ||
Related Party Transaction, Purchases from Related Party | $64 | $166 | $70 | $91 | $126 | $88 | $193 | $609 | $23 | $349 | $284 | $236 | $214 | $632 | $315 | $300 | $305 | $825 | $664 | $797 | $154 | $1,471 | $1,019 | ||
[1] | The CEO is referred to herein as the chief executive officer of General Steel Holdings, Inc. | ||||||||||||||||||||||||
[2] | Long Steel Group has the ability to significantly influence the operating and financial decisions of the entity through equity ownership either directly or through key employees, commercial contractual terms, or the ability to assign management personnel. |
Related_party_transactions_and5
Related party transactions and balances (Details 3) (USD $) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2011 | Jun. 30, 2011 | Jun. 30, 2013 | Jun. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | ||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Relationship | ' | ' | ' | 'Significant influence by Long Steel Group | [1] | ' | ' | ' | 'Relationship | 'Relationship | ' | 'Partially owned by CEO through indirect shareholding | ' | ' | ' | ' | ' | |
Loans receivable - related parties | $4,540 | $6,000 | $6,000 | ' | ' | $6,000 | ' | $4,540 | $67,159 | ' | $4,540 | $69,319 | $67,239 | $63,199 | $0 | $0 | ||
Long Steel Group [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Relationship | 'Noncontrolling shareholder of Longmen Joint Venture | 'Noncontrolling shareholder of Longmen Joint Venture | 'Noncontrolling shareholder of Longmen Joint Venture | 'Non-controlling shareholder of Longmen Joint Venture | 'Non-controlling shareholder of Longmen Joint Venture | 'Noncontrolling shareholder of Longmen Joint Venture | 'Non-controlling shareholder of Longmen Joint Venture | 'Noncontrolling shareholder of Longmen Joint Venture | 'Noncontrolling shareholder of Longmen Joint Venture | 'Non-controlling shareholder of Longmen Joint Venture | 'Noncontrolling shareholder of Longmen Joint Venture | ' | ' | ' | ' | ' | ||
Loans receivable - related parties | 0 | 0 | 0 | ' | ' | 0 | ' | 0 | 63,159 | ' | 0 | 63,319 | 63,239 | 63,199 | 0 | 0 | ||
Teamlink Investment Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Relationship | ' | ' | ' | ' | ' | ' | ' | 'Partially owned by CEO** through indirect shareholding | [1] | 'Partially owned by CEO through indirect shareholding | ' | 'Partially owned by CEO through indirect shareholding | ' | ' | ' | ' | ' | |
Loans receivable - related parties | $4,540 | $6,000 | $6,000 | ' | ' | $6,000 | ' | $4,540 | $4,000 | ' | $4,540 | $6,000 | $4,000 | $0 | $0 | $0 | ||
[1] | The CEO is referred to herein as the chief executive officer of General Steel Holdings, Inc. |
Related_party_transactions_and6
Related party transactions and balances (Details 4) (USD $) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2011 | Jun. 30, 2011 | Jun. 30, 2013 | Jun. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | ||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Relationship | ' | ' | ' | 'Significant influence by Long Steel Group | [1] | ' | ' | ' | 'Relationship | 'Relationship | ' | 'Partially owned by CEO through indirect shareholding | ' | ' | ' | ' | ' | |
Accounts Receivable, Related Parties, Current | $3,252 | $6,212 | $8,231 | $10,594 | $43,500 | $6,212 | $43,500 | $3,252 | $28,346 | $10,594 | $2,942 | $14,966 | $87,373 | $53,056 | $20,593 | $4,160 | ||
Long Steel Group [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Relationship | 'Noncontrolling shareholder of Longmen Joint Venture | 'Noncontrolling shareholder of Longmen Joint Venture | 'Noncontrolling shareholder of Longmen Joint Venture | 'Non-controlling shareholder of Longmen Joint Venture | 'Non-controlling shareholder of Longmen Joint Venture | 'Noncontrolling shareholder of Longmen Joint Venture | 'Non-controlling shareholder of Longmen Joint Venture | 'Noncontrolling shareholder of Longmen Joint Venture | 'Noncontrolling shareholder of Longmen Joint Venture | 'Non-controlling shareholder of Longmen Joint Venture | 'Noncontrolling shareholder of Longmen Joint Venture | ' | ' | ' | ' | ' | ||
Accounts Receivable, Related Parties, Current | 1,834 | 1,319 | 3,441 | 7,618 | 36,003 | 1,319 | 36,003 | 1,834 | 12,306 | 7,618 | 548 | 10,409 | 56,445 | 35,650 | 9,187 | 3,023 | ||
Shaanxi Long Steel Group Baoji Steel Rolling Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Relationship | 'Subsidiary of Long Steel Group | 'Subsidiary of Long Steel Group | 'Subsidiary of Long Steel Group | ' | ' | 'Subsidiary of Long Steel Group | ' | 'Subsidiary of Long Steel Group | 'Subsidiary of Long Steel Group | 'Subsidiary of Long Steel Group | 'Subsidiary of Long Steel Group | ' | ' | ' | ' | ' | ||
Accounts Receivable, Related Parties, Current | 0 | 3,183 | 3,019 | 0 | 2,543 | 3,183 | 2,543 | 0 | 3,178 | 0 | 0 | 2,017 | 3,725 | 4,749 | 3,141 | 0 | ||
Tianjin Daqiuzhuang Steel Plates [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Relationship | ' | ' | ' | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | ' | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | ' | ' | ' | ' | ' | ||
Accounts Receivable, Related Parties, Current | 19 | 19 | 18 | 752 | 1,081 | 19 | 1,081 | 19 | 761 | 752 | 19 | 18 | 762 | 762 | 755 | 0 | ||
Shaanxi Steel [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Relationship | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | ' | ' | ' | ' | ' | ||
Accounts Receivable, Related Parties, Current | 1,227 | 1,521 | 1,102 | 1,860 | 1,654 | 1,521 | 1,654 | 1,227 | 7,106 | 1,860 | 1,741 | 2,435 | 8,697 | 9,064 | 7,207 | 83 | ||
Others [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Relationship | 'Entities either owned or have significant influence by our affiliates or management | 'Entities either owned or have significant influence by our affiliates or management | 'Entities either owned or have significant influence by our affiliates or management | 'Entities either owned or have significant influence by our affiliates or management | 'Entities either owned or have significant influence by our affiliates or management | 'Entities either owned or have significant influence by our affiliates or management | 'Entities either owned or have significant influence by our affiliates or management | 'Entities either owned or have significant influence by our affiliates or management | 'Entities either owned or have significant influence by our affiliates or management | 'Entities either owned or have significant influence by our affiliates or management | 'Entities either owned or have significant influence by our affiliates or management | ' | ' | ' | ' | ' | ||
Accounts Receivable, Related Parties, Current | 172 | 170 | 651 | 46 | 108 | 170 | 108 | 172 | 924 | 46 | 634 | 87 | 306 | 306 | 303 | ' | ||
Tianjin Hengying Trading Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Relationship | ' | ' | 'Common control under CEO | 'Partially owned by CEO through indirect shareholding | [2] | 'Partially owned by CEO through indirect shareholding | ' | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | [1] | ' | ' | ' | ' | ' |
Accounts Receivable, Related Parties, Current | ' | ' | ' | 0 | 0 | ' | 0 | ' | 4,071 | 0 | ' | ' | 0 | 0 | 0 | 1,054 | ||
Hancheng Haiyan Coking Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Relationship | 'Noncontrolling shareholder of Long Steel Group | 'Noncontrolling shareholder of Long Steel Group | 'Investee of Long Steel Group | 'Non-controlling shareholder of Long Steel Group | 'Non-controlling shareholder of Long Steel Group | 'Noncontrolling shareholder of Long Steel Group | 'Non-controlling shareholder of Long Steel Group | 'Noncontrolling shareholder of Long Steel Group | 'Non-controlling shareholder of Longmen Joint Venture | 'Non-controlling shareholder of Long Steel Group | 'Noncontrolling shareholder of Long Steel Group | ' | ' | ' | ' | ' | ||
Accounts Receivable, Related Parties, Current | ' | ' | ' | 318 | 0 | ' | 0 | ' | 0 | 318 | ' | ' | 0 | 0 | 0 | 0 | ||
Gansu Yulong Trading Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Relationship | ' | ' | ' | ' | ' | ' | ' | ' | 'Significant influence by Long Steel Group | ' | 'Significant influence by Long Steel Group | ' | ' | ' | ' | ' | ||
Accounts Receivable, Related Parties, Current | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | 17,438 | 2,525 | 0 | ' | ||
Tianjin Hancheng Haiyan Coking Co., Ltd. [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Relationship | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'Partially owned by CEO through indirect shareholding | ' | ' | ' | ' | ' | ' | ||
Accounts Receivable, Related Parties, Current | ' | ' | ' | $0 | $2,111 | ' | $2,111 | ' | ' | $0 | ' | ' | ' | ' | ' | $0 | ||
[1] | The CEO is referred to herein as the chief executive officer of General Steel Holdings, Inc. | |||||||||||||||||
[2] | Long Steel Group has the ability to significantly influence the operating and financial decisions of the entity through equity ownership either directly or through key employees, commercial contractual terms, or the ability to assign management personnel. |
Related_party_transactions_and7
Related party transactions and balances (Details 5) (USD $) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2011 | Jun. 30, 2011 | Jun. 30, 2013 | Jun. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Related Party Relationship | ' | ' | ' | 'Significant influence by Long Steel Group | [1] | ' | ' | ' | 'Relationship | 'Relationship | ' | 'Partially owned by CEO through indirect shareholding | ' | ' | ' | ' | ' | ||
Other receivables - related parties | $51,501 | $63,223 | $89,015 | $87,748 | $91,728 | $63,223 | $91,728 | $51,501 | $65,250 | $87,748 | $54,106 | $68,382 | $54,400 | $76,052 | $87,679 | $10,938 | |||
Long Steel Group [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Related Party Relationship | 'Noncontrolling shareholder of Longmen Joint Venture | 'Noncontrolling shareholder of Longmen Joint Venture | 'Noncontrolling shareholder of Longmen Joint Venture | 'Non-controlling shareholder of Longmen Joint Venture | 'Non-controlling shareholder of Longmen Joint Venture | 'Noncontrolling shareholder of Longmen Joint Venture | 'Non-controlling shareholder of Longmen Joint Venture | 'Noncontrolling shareholder of Longmen Joint Venture | 'Noncontrolling shareholder of Longmen Joint Venture | 'Non-controlling shareholder of Longmen Joint Venture | 'Noncontrolling shareholder of Longmen Joint Venture | ' | ' | ' | ' | ' | |||
Other receivables - related parties | 561 | 3,114 | 17,438 | 14,436 | 14,834 | 3,114 | 14,834 | 561 | 3,734 | 14,436 | 406 | 301 | 1,847 | 0 | 9,187 | 3,023 | |||
Shaanxi Steel [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Related Party Relationship | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | ' | ' | ' | ' | ' | |||
Other receivables - related parties | 44,811 | 54,082 | 69,455 | 69,209 | 69,028 | 54,082 | 69,028 | 44,811 | 60,674 | 69,209 | 46,439 | 65,981 | 51,347 | 64,855 | 7,207 | 83 | |||
Tianjin General Quigang Pipe Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Related Party Relationship | ' | ' | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | ' | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | ' | ' | ' | ' | ' | |||
Other receivables - related parties | 1,228 | 1,220 | 1,202 | ' | ' | 1,220 | ' | 1,228 | 0 | ' | 1,247 | 1,195 | 4 | 9,508 | 0 | ' | |||
Tianjin Dazhan Industry Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Related Party Relationship | ' | ' | 'Common control under CEO | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | ' | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | ' | ' | ' | ' | ' | |||
Other receivables - related parties | 489 | 486 | 479 | 0 | 464 | 486 | 464 | 489 | 475 | 0 | 491 | 476 | 476 | 475 | ' | 455 | |||
Beijing Shenhua Xinyuan Metal Materials Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Related Party Relationship | ' | ' | ' | ' | ' | ' | ' | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | ' | ' | ' | ' | ' | |||
Other receivables - related parties | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,901 | 0 | ' | ' | ' | ' | |||
Others [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Related Party Relationship | 'Entities either owned or have significant influence by our affiliates or management | 'Entities either owned or have significant influence by our affiliates or management | 'Entities either owned or have significant influence by our affiliates or management | 'Entities either owned or have significant influence by our affiliates or management | 'Entities either owned or have significant influence by our affiliates or management | 'Entities either owned or have significant influence by our affiliates or management | 'Entities either owned or have significant influence by our affiliates or management | 'Entities either owned or have significant influence by our affiliates or management | 'Entities either owned or have significant influence by our affiliates or management | 'Entities either owned or have significant influence by our affiliates or management | 'Entities either owned or have significant influence by our affiliates or management | ' | ' | ' | ' | ' | |||
Other receivables - related parties | 578 | 510 | 441 | 543 | 585 | 510 | 585 | 578 | 367 | 543 | 622 | 429 | 401 | 412 | 303 | 0 | |||
Shaanxi Long Steel Group Baoji Steel Rolling Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Related Party Relationship | 'Subsidiary of Long Steel Group | 'Subsidiary of Long Steel Group | 'Subsidiary of Long Steel Group | ' | ' | 'Subsidiary of Long Steel Group | ' | 'Subsidiary of Long Steel Group | 'Subsidiary of Long Steel Group | 'Subsidiary of Long Steel Group | 'Subsidiary of Long Steel Group | ' | ' | ' | ' | ' | |||
Other receivables - related parties | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,141 | 0 | |||
Tianjin Daqiuzhuang Steel Plates Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Related Party Relationship | ' | ' | ' | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | ' | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | ' | ' | ' | ' | ' | |||
Other receivables - related parties | ' | ' | ' | 54 | 58 | ' | 58 | ' | 0 | 54 | ' | ' | 0 | 55 | 755 | 0 | |||
Tianjin Hengying Trading Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Related Party Relationship | ' | ' | 'Common control under CEO | 'Partially owned by CEO through indirect shareholding | [2] | 'Partially owned by CEO through indirect shareholding | ' | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | [1] | ' | ' | ' | ' | ' | |
Other receivables - related parties | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | ' | 0 | 1,054 | |||
Maoming Shengze Trading Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Related Party Relationship | ' | ' | ' | ' | ' | ' | ' | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirectshareholding | 'Partially owned by CEO through indirect shareholding | ' | ' | ' | ' | ' | |||
Other receivables - related parties | 3,834 | 3,811 | 0 | 0 | 4,355 | 3,811 | 4,355 | 3,834 | 0 | 0 | ' | ' | 325 | 747 | 937 | 8,095 | |||
Teamlink Investment Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Related Party Relationship | ' | ' | ' | ' | ' | ' | ' | 'Partially owned by CEO** through indirect shareholding | [1] | 'Partially owned by CEO through indirect shareholding | ' | 'Partially owned by CEO through indirect shareholding | ' | ' | ' | ' | ' | ||
Other receivables - related parties | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | 0 | 0 | 2,000 | ' | |||
Shaanxi Huafu New Energy Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Related Party Relationship | 'Significant influence by the Long Steel Group | 'Significant influence by the Long Steel Group | 'Significant influence by the Long Steel Group | 'Significant influence by Long Steel Group | ' | 'Significant influence by the Long Steel Group | ' | 'Significant influence by the Long Steel Group | 'Significant influence by Long Steel Group | 'Significant influence by the Company | 'Significant influence by the Long Steel Group | ' | ' | ' | ' | ' | |||
Other receivables - related parties | ' | ' | ' | $3,506 | $2,404 | ' | $2,404 | ' | $0 | $3,506 | ' | ' | $0 | $0 | $2,441 | $0 | |||
[1] | The CEO is referred to herein as the chief executive officer of General Steel Holdings, Inc. | ||||||||||||||||||
[2] | Long Steel Group has the ability to significantly influence the operating and financial decisions of the entity through equity ownership either directly or through key employees, commercial contractual terms, or the ability to assign management personnel. |
Related_party_transactions_and8
Related party transactions and balances (Details 6) (USD $) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2011 | Jun. 30, 2011 | Jun. 30, 2013 | Jun. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Related Party Relationship | ' | ' | ' | 'Significant influence by Long Steel Group | [1] | ' | ' | ' | 'Relationship | 'Relationship | ' | 'Partially owned by CEO through indirect shareholding | ' | ' | ' | ' | ' | ||
Advances on inventory purchase - related parties | $29,667 | $2,391 | $5,259 | $79,893 | $13,143 | $2,391 | $13,143 | $29,667 | $78,860 | $79,893 | $83,003 | $46,416 | $52,773 | $76,849 | $20,244 | $6,187 | |||
Long Steel Group [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Related Party Relationship | 'Noncontrolling shareholder of Longmen Joint Venture | 'Noncontrolling shareholder of Longmen Joint Venture | 'Noncontrolling shareholder of Longmen Joint Venture | 'Non-controlling shareholder of Longmen Joint Venture | 'Non-controlling shareholder of Longmen Joint Venture | 'Noncontrolling shareholder of Longmen Joint Venture | 'Non-controlling shareholder of Longmen Joint Venture | 'Noncontrolling shareholder of Longmen Joint Venture | 'Noncontrolling shareholder of Longmen Joint Venture | 'Non-controlling shareholder of Longmen Joint Venture | 'Noncontrolling shareholder of Longmen Joint Venture | ' | ' | ' | ' | ' | |||
Advances on inventory purchase - related parties | 1,377 | 1,393 | 1,373 | 40,116 | 0 | 1,393 | 0 | 1,377 | 13,757 | 40,116 | 9,123 | 1,367 | 2 | 0 | 15,244 | 993 | |||
Shaanxi Shenganda Trading Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Related Party Relationship | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | ' | ' | ' | ' | ' | |||
Advances on inventory purchase - related parties | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25,607 | 0 | ' | ' | 0 | 0 | |||
Tianjin Dazhan Industry Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Related Party Relationship | ' | ' | 'Common control under CEO | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | ' | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | ' | ' | ' | ' | ' | |||
Advances on inventory purchase - related parties | 6,254 | 0 | 0 | ' | ' | 0 | ' | 6,254 | ' | ' | 10,343 | 0 | ' | ' | 0 | 455 | |||
Tianjin Hengying Trading Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Related Party Relationship | ' | ' | 'Common control under CEO | 'Partially owned by CEO through indirect shareholding | [2] | 'Partially owned by CEO through indirect shareholding | ' | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | [1] | ' | ' | ' | ' | ' | |
Advances on inventory purchase - related parties | 12,805 | 0 | ' | ' | ' | 0 | ' | 12,805 | 9,471 | ' | 16,158 | 0 | 0 | 0 | 0 | 0 | |||
Tianjin General Qiugang Pipe Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Related Party Relationship | ' | ' | ' | ' | ' | ' | ' | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | ' | ' | ' | ' | ' | |||
Advances on inventory purchase - related parties | 9,210 | 34 | 34 | 36,377 | 11,335 | 34 | 11,335 | 9,210 | 46,236 | 36,377 | 555 | 41,316 | 49,043 | 73,123 | 0 | 0 | |||
Maoming Shengze Trading Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Related Party Relationship | ' | ' | ' | ' | ' | ' | ' | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirectshareholding | 'Partially owned by CEO through indirect shareholding | ' | ' | ' | ' | ' | |||
Advances on inventory purchase - related parties | 0 | 0 | 3,754 | 3,055 | 1,643 | 0 | 1,643 | 0 | 3,724 | 3,055 | 21,197 | 3,733 | 3,728 | 3,726 | 937 | 8,095 | |||
Others [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Related Party Relationship | 'Entities either owned or have significant influence by our affiliates or management | 'Entities either owned or have significant influence by our affiliates or management | 'Entities either owned or have significant influence by our affiliates or management | 'Entities either owned or have significant influence by our affiliates or management | 'Entities either owned or have significant influence by our affiliates or management | 'Entities either owned or have significant influence by our affiliates or management | 'Entities either owned or have significant influence by our affiliates or management | 'Entities either owned or have significant influence by our affiliates or management | 'Entities either owned or have significant influence by our affiliates or management | 'Entities either owned or have significant influence by our affiliates or management | 'Entities either owned or have significant influence by our affiliates or management | ' | ' | ' | ' | ' | |||
Advances on inventory purchase - related parties | 21 | 964 | 98 | 345 | 165 | 964 | 165 | 21 | ' | 345 | 20 | 0 | ' | ' | 188 | 317 | |||
Shaanxi Huafu New Energy Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Related Party Relationship | 'Significant influence by the Long Steel Group | 'Significant influence by the Long Steel Group | 'Significant influence by the Long Steel Group | 'Significant influence by Long Steel Group | ' | 'Significant influence by the Long Steel Group | ' | 'Significant influence by the Long Steel Group | 'Significant influence by Long Steel Group | 'Significant influence by the Company | 'Significant influence by the Long Steel Group | ' | ' | ' | ' | ' | |||
Advances on inventory purchase - related parties | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | ' | 2,441 | 0 | |||
Tianjin Daqiuzhuang Steel Plates Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Related Party Relationship | ' | ' | ' | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | ' | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | ' | ' | ' | ' | ' | |||
Advances on inventory purchase - related parties | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | ' | 0 | 1,078 | |||
Teamlink Investment Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Related Party Relationship | ' | ' | ' | ' | ' | ' | ' | 'Partially owned by CEO** through indirect shareholding | [1] | 'Partially owned by CEO through indirect shareholding | ' | 'Partially owned by CEO through indirect shareholding | ' | ' | ' | ' | ' | ||
Advances on inventory purchase - related parties | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | ' | 2,000 | 0 | |||
Shaanxi Steel [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Related Party Relationship | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | ' | ' | ' | ' | ' | |||
Advances on inventory purchase - related parties | ' | ' | ' | ' | ' | ' | ' | ' | 5,672 | ' | ' | ' | 0 | 0 | 66,869 | 0 | |||
Beijing Shenhua Xinyuan Metal Materials Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Related Party Relationship | ' | ' | ' | ' | ' | ' | ' | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | ' | ' | ' | ' | ' | |||
Advances on inventory purchase - related parties | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0 | $0 | |||
[1] | The CEO is referred to herein as the chief executive officer of General Steel Holdings, Inc. | ||||||||||||||||||
[2] | Long Steel Group has the ability to significantly influence the operating and financial decisions of the entity through equity ownership either directly or through key employees, commercial contractual terms, or the ability to assign management personnel. |
Related_party_transactions_and9
Related party transactions and balances (Details 7) (USD $) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2011 | Jun. 30, 2011 | Jun. 30, 2013 | Jun. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | ||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Relationship | ' | ' | ' | 'Significant influence by Long Steel Group | [1] | ' | ' | ' | 'Relationship | 'Relationship | ' | 'Partially owned by CEO through indirect shareholding | ' | ' | ' | ' | ' | |
Accounts payable - related parties | $172,259 | $172,306 | $154,492 | $114,309 | $127,798 | $172,306 | $127,798 | $172,259 | $117,662 | $114,309 | $235,692 | $177,432 | $116,683 | $190,063 | $121,828 | $79,694 | ||
Hancheng Haiyan Coking Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Relationship | 'Noncontrolling shareholder of Long Steel Group | 'Noncontrolling shareholder of Long Steel Group | 'Investee of Long Steel Group | 'Non-controlling shareholder of Long Steel Group | 'Non-controlling shareholder of Long Steel Group | 'Noncontrolling shareholder of Long Steel Group | 'Non-controlling shareholder of Long Steel Group | 'Noncontrolling shareholder of Long Steel Group | 'Non-controlling shareholder of Longmen Joint Venture | 'Non-controlling shareholder of Long Steel Group | 'Noncontrolling shareholder of Long Steel Group | ' | ' | ' | ' | ' | ||
Accounts payable - related parties | 60,463 | 56,187 | 66,042 | 30,141 | 39,744 | 56,187 | 39,744 | 60,463 | 45,057 | 30,141 | 58,163 | 58,661 | 44,328 | 37,984 | 46,487 | 25,708 | ||
Long Steel Group [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Relationship | 'Noncontrolling shareholder of Longmen Joint Venture | 'Noncontrolling shareholder of Longmen Joint Venture | 'Noncontrolling shareholder of Longmen Joint Venture | 'Non-controlling shareholder of Longmen Joint Venture | 'Non-controlling shareholder of Longmen Joint Venture | 'Noncontrolling shareholder of Longmen Joint Venture | 'Non-controlling shareholder of Longmen Joint Venture | 'Noncontrolling shareholder of Longmen Joint Venture | 'Noncontrolling shareholder of Longmen Joint Venture | 'Non-controlling shareholder of Longmen Joint Venture | 'Noncontrolling shareholder of Longmen Joint Venture | ' | ' | ' | ' | ' | ||
Accounts payable - related parties | 100,579 | 108,045 | 77,254 | 23,108 | 42,893 | 108,045 | 42,893 | 100,579 | 42,247 | 23,108 | 958 | 3 | 43,414 | 56,582 | 11,231 | 28,329 | ||
Shaanxi Coal and Chemical Industry Group Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Relationship | 'Shareholder of Shaanxi Steel | 'Shareholder of Shaanxi Steel | 'Shareholder of Shaanxi Steel | ' | ' | 'Shareholder of Shaanxi Steel | ' | 'Shareholder of Shaanxi Steel | ' | ' | 'Shareholder of Shaanxi Steel | ' | ' | ' | ' | ' | ||
Accounts payable - related parties | 0 | 0 | 0 | ' | ' | 0 | ' | 0 | ' | ' | 8,714 | 5,278 | ' | ' | ' | ' | ||
Tianjin Dazhan Industry Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Relationship | ' | ' | 'Common control under CEO | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | ' | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | ' | ' | ' | ' | ' | ||
Accounts payable - related parties | 954 | 63 | 3 | 32,034 | 23,990 | 63 | 23,990 | 954 | 3 | 32,034 | 1 | 13,919 | 3 | 3 | 25,511 | 2,764 | ||
Xi'an Pinghe Metallurgical Raw Material Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Relationship | 'Noncontrolling shareholder of Long Steel Group | 'Noncontrolling shareholder of Long Steel Group | 'Noncontrolling shareholder of Long Steel Group | 'Non-controlling shareholder of Long Steel Group | 'Non-controlling shareholder of Long Steel Group | 'Noncontrolling shareholder of Long Steel Group | 'Non-controlling shareholder of Long Steel Group | 'Noncontrolling shareholder of Long Steel Group | 'Noncontrolling shareholder of Long Steel Group | 'Non-controlling shareholder of Long Steel Group | 'Noncontrolling shareholder of Long Steel Group | ' | ' | ' | ' | ' | ||
Accounts payable - related parties | 7,838 | 5,684 | 7,223 | 3,912 | 15,557 | 5,684 | 15,557 | 7,838 | 4,846 | 3,912 | 716 | 1,146 | 17,615 | 48,920 | 12,800 | 0 | ||
Tianjin Hengying Trading Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Relationship | ' | ' | 'Common control under CEO | 'Partially owned by CEO through indirect shareholding | [2] | 'Partially owned by CEO through indirect shareholding | ' | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | [1] | ' | ' | ' | ' | ' |
Accounts payable - related parties | 1 | 1 | 1 | 19,049 | 845 | 1 | 845 | 1 | 23,844 | 19,049 | 0 | 0 | 8,974 | 40,115 | 14,856 | 17,264 | ||
Henan Xinmi Kanghua Fire Refractory Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Relationship | ' | ' | ' | ' | ' | ' | ' | 'Noncontrolling shareholder of Longmen Joint Venture’s subsidiary | 'Noncontrolling shareholder of Longmen Joint Venture’s subsidiary | 'Noncontrolling shareholder of Longmen Joint Venture’s subsidiary | 'Noncontrolling shareholder of Longmen Joint Venture’s subsidiary | ' | ' | ' | ' | ' | ||
Accounts payable - related parties | 722 | 692 | 1,011 | 417 | 1,031 | 692 | 1,031 | 722 | 905 | 417 | 1,004 | 875 | 1,010 | 1,008 | 1,185 | 880 | ||
Beijing Daishang Trading Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Relationship | 'Noncontrolling shareholder of Longmen Joint Venture’s subsidiary | 'Noncontrolling shareholder of Longmen Joint Venture’s subsidiary | 'Noncontrolling shareholder of Longmen Joint Venture’s subsidiary | 'Non-controlling shareholder of Longmen Joint Venture’s subsidiary | 'Non-controlling shareholder of Longmen Joint Venture’s subsidiary | 'Noncontrolling shareholder of Longmen Joint Venture’s subsidiary | 'Non-controlling shareholder of Longmen Joint Venture’s subsidiary | 'Noncontrolling shareholder of Longmen Joint Venture’s subsidiary | 'Noncontrolling shareholder of Longmen Joint Venture’s subsidiary | 'Non-controlling shareholder of Longmen Joint Venture’s subsidiary | 'Noncontrolling shareholder of Longmen Joint Venture’s subsidiary | ' | ' | ' | ' | ' | ||
Accounts payable - related parties | 1,149 | 1,080 | 2,548 | 1,200 | 1,803 | 1,080 | 1,803 | 1,149 | 584 | 1,200 | 0 | 0 | 1,021 | 93 | 1,600 | 1,101 | ||
Tianjin General Qiugang Pipe Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Relationship | ' | ' | ' | ' | ' | ' | ' | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | ' | ' | ' | ' | ' | ||
Accounts payable - related parties | 0 | 0 | 0 | ' | ' | 0 | ' | 0 | 52 | ' | 0 | 52 | 52 | 5,233 | 8,034 | ' | ||
Tianwu General Steel Material Trading Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Relationship | ' | ' | ' | ' | ' | ' | ' | ' | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Investee of General Steel (China) | ' | ' | ' | ' | ' | ||
Accounts payable - related parties | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 759 | 0 | ' | ' | ' | ' | ||
Maoming Shengze Trading Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Relationship | ' | ' | ' | ' | ' | ' | ' | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirectshareholding | 'Partially owned by CEO through indirect shareholding | ' | ' | ' | ' | ' | ||
Accounts payable - related parties | ' | ' | ' | 0 | 0 | ' | 0 | ' | ' | 0 | ' | ' | ' | ' | ' | 1,954 | ||
Shaanxi Huafu New Energy Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Relationship | 'Significant influence by the Long Steel Group | 'Significant influence by the Long Steel Group | 'Significant influence by the Long Steel Group | 'Significant influence by Long Steel Group | ' | 'Significant influence by the Long Steel Group | ' | 'Significant influence by the Long Steel Group | 'Significant influence by Long Steel Group | 'Significant influence by the Company | 'Significant influence by the Long Steel Group | ' | ' | ' | ' | ' | ||
Accounts payable - related parties | ' | ' | ' | 4,182 | 0 | ' | 0 | ' | ' | 4,182 | ' | ' | ' | ' | ' | 0 | ||
Hancheng Jinma Coking Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Relationship | ' | ' | 'Investee of Longmen Joint Venture’s subsidiary(unconsolidated) | 'Equity investee of Longmen Joint Venture’s subsidiary (unconsolidated) | 'Equity investee of Longmen Joint Venture’s subsidiary (unconsolidated) | ' | 'Equity investee of Longmen Joint Venture’s subsidiary (unconsolidated) | ' | ' | 'Equity investee of Longmen Joint Venture’s subsidiary (unconsolidated) | 'Investee of Longmen Joint Venture’s subsidiary (unconsolidated) | ' | ' | ' | ' | ' | ||
Accounts payable - related parties | ' | ' | ' | 0 | 1,678 | ' | 1,678 | ' | ' | 0 | ' | ' | ' | ' | ' | 1,579 | ||
Others [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Relationship | 'Entities either owned or have significant influence by our affiliates or management | 'Entities either owned or have significant influence by our affiliates or management | 'Entities either owned or have significant influence by our affiliates or management | 'Entities either owned or have significant influence by our affiliates or management | 'Entities either owned or have significant influence by our affiliates or management | 'Entities either owned or have significant influence by our affiliates or management | 'Entities either owned or have significant influence by our affiliates or management | 'Entities either owned or have significant influence by our affiliates or management | 'Entities either owned or have significant influence by our affiliates or management | 'Entities either owned or have significant influence by our affiliates or management | 'Entities either owned or have significant influence by our affiliates or management | ' | ' | ' | ' | ' | ||
Accounts payable - related parties | $553 | $554 | $410 | $266 | $257 | $554 | $257 | $553 | $124 | $266 | $629 | $335 | $266 | $125 | $124 | $115 | ||
[1] | The CEO is referred to herein as the chief executive officer of General Steel Holdings, Inc. | |||||||||||||||||
[2] | Long Steel Group has the ability to significantly influence the operating and financial decisions of the entity through equity ownership either directly or through key employees, commercial contractual terms, or the ability to assign management personnel. |
Recovered_Sheet8
Related party transactions and balances (Details 8) (USD $) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2011 | Jun. 30, 2011 | Jun. 30, 2013 | Jun. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | ||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Relationship | ' | ' | ' | 'Significant influence by Long Steel Group | [1] | ' | ' | ' | 'Relationship | 'Relationship | ' | 'Partially owned by CEO through indirect shareholding | ' | ' | ' | ' | ' | |
Short term loans - related parties | $48,889 | $81,975 | $104,390 | $15,650 | $15,637 | $81,975 | $15,637 | $48,889 | $82,069 | $15,650 | $126,693 | $79,557 | $81,524 | $82,992 | $15,710 | $14,548 | ||
Shaanxi Steel [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Relationship | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | ' | ' | ' | ' | ' | ||
Short term loans - related parties | 0 | 0 | 24,829 | 0 | 0 | 0 | 0 | 0 | 45,505 | 0 | 49,110 | 35,839 | 15,892 | 15,842 | 0 | 14,548 | ||
Shaanxi Coal and Chemical Industry Group Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Relationship | 'Shareholder of Shaanxi Steel | 'Shareholder of Shaanxi Steel | 'Shareholder of Shaanxi Steel | ' | ' | 'Shareholder of Shaanxi Steel | ' | 'Shareholder of Shaanxi Steel | ' | ' | 'Shareholder of Shaanxi Steel | ' | ' | ' | ' | ' | ||
Short term loans - related parties | 33,580 | 42,836 | 56,977 | ' | ' | 42,836 | ' | 33,580 | ' | ' | 28,216 | 0 | ' | ' | 0 | 0 | ||
Long Steel Group [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Relationship | 'Noncontrolling shareholder of Longmen Joint Venture | 'Noncontrolling shareholder of Longmen Joint Venture | 'Noncontrolling shareholder of Longmen Joint Venture | 'Non-controlling shareholder of Longmen Joint Venture | 'Non-controlling shareholder of Longmen Joint Venture | 'Noncontrolling shareholder of Longmen Joint Venture | 'Non-controlling shareholder of Longmen Joint Venture | 'Noncontrolling shareholder of Longmen Joint Venture | 'Noncontrolling shareholder of Longmen Joint Venture | 'Non-controlling shareholder of Longmen Joint Venture | 'Noncontrolling shareholder of Longmen Joint Venture | ' | ' | ' | ' | ' | ||
Short term loans - related parties | 1,547 | 1,538 | 15,960 | ' | ' | 1,538 | ' | 1,547 | ' | ' | 33,183 | 0 | ' | ' | 0 | 0 | ||
Tianjin Hengying Trading Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Relationship | ' | ' | 'Common control under CEO | 'Partially owned by CEO through indirect shareholding | [2] | 'Partially owned by CEO through indirect shareholding | ' | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | [1] | ' | ' | ' | ' | ' |
Short term loans - related parties | 10,916 | 10,849 | 3,837 | 15,650 | 15,470 | 10,849 | 15,470 | 10,916 | 24,828 | 15,650 | 8,178 | 19,549 | 11,880 | 39,710 | 15,710 | 0 | ||
Tianjin Dazhan Industry Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Relationship | ' | ' | 'Common control under CEO | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | ' | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | ' | ' | ' | ' | ' | ||
Short term loans - related parties | 0 | 23,923 | 0 | ' | ' | 23,923 | ' | 0 | 8,972 | ' | 6,548 | 21,397 | 50,984 | 24,674 | 0 | 0 | ||
Beijing Shenhua Xinyuan Metal Materials Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Relationship | ' | ' | ' | ' | ' | ' | ' | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | ' | ' | ' | ' | ' | ||
Short term loans - related parties | 1,395 | 1,387 | 1,366 | ' | ' | 1,387 | ' | 1,395 | 1,355 | ' | 0 | 1,359 | 1,357 | 1,356 | 0 | 0 | ||
Yangpu Capital Automobile [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Relationship | ' | ' | ' | ' | ' | ' | ' | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | ' | ' | ' | ' | ' | ||
Short term loans - related parties | 1,451 | 1,442 | 1,421 | ' | ' | 1,442 | ' | 1,451 | 1,409 | ' | 1,458 | 1,413 | 1,411 | 1,410 | 0 | 0 | ||
Shaanxi Hong Guang Steel Logistic Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Short term loans - related parties | ' | ' | ' | $0 | $167 | ' | $167 | ' | ' | $0 | ' | ' | ' | ' | ' | ' | ||
[1] | The CEO is referred to herein as the chief executive officer of General Steel Holdings, Inc. | |||||||||||||||||
[2] | Long Steel Group has the ability to significantly influence the operating and financial decisions of the entity through equity ownership either directly or through key employees, commercial contractual terms, or the ability to assign management personnel. |
Recovered_Sheet9
Related party transactions and balances (Details 9) (USD $) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2011 | Jun. 30, 2011 | Jun. 30, 2013 | Jun. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Related Party Relationship | ' | ' | ' | 'Significant influence by Long Steel Group | [1] | ' | ' | ' | 'Relationship | 'Relationship | ' | 'Partially owned by CEO through indirect shareholding | ' | ' | ' | ' | ' |
Current maturities of long-term loans - related parties | $47,896 | $48,014 | $59,984 | ' | ' | $48,014 | ' | $47,896 | $49,997 | ' | $53,013 | $54,885 | $0 | $0 | $0 | $0 | |
Shaanxi Steel [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Related Party Relationship | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | ' | ' | ' | ' | ' | |
Current maturities of long-term loans - related parties | $47,896 | $48,014 | $59,984 | ' | ' | $48,014 | ' | $47,896 | $49,997 | ' | $53,013 | $54,885 | $0 | $0 | $0 | $0 | |
[1] | The CEO is referred to herein as the chief executive officer of General Steel Holdings, Inc. |
Recovered_Sheet10
Related party transactions and balances (Details 10) (USD $) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2011 | Jun. 30, 2011 | Jun. 30, 2013 | Jun. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | ||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Related Party Relationship | ' | ' | ' | 'Significant influence by Long Steel Group | [1] | ' | ' | ' | 'Relationship | 'Relationship | ' | 'Partially owned by CEO through indirect shareholding | ' | ' | ' | ' | ' | |||
Other payables - related parties | $106,153 | $101,268 | $82,232 | $14,905 | $18,216 | $101,268 | $18,216 | $106,153 | $118,585 | $14,905 | $94,079 | $73,025 | $132,948 | $95,032 | $28,873 | $18,214 | ||||
Tianjin Hengying Trading Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Related Party Relationship | ' | ' | 'Common control under CEO | 'Partially owned by CEO through indirect shareholding | [2] | 'Partially owned by CEO through indirect shareholding | ' | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | [1] | ' | ' | ' | ' | ' | ||
Other payables - related parties | 876 | 871 | 858 | 7,360 | 7,275 | 871 | 7,275 | 876 | 2,176 | 7,360 | 380 | 2,770 | 1,813 | 939 | 0 | 10,168 | ||||
Long Steel Group [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Related Party Relationship | 'Noncontrolling shareholder of Longmen Joint Venture | 'Noncontrolling shareholder of Longmen Joint Venture | 'Noncontrolling shareholder of Longmen Joint Venture | 'Non-controlling shareholder of Longmen Joint Venture | 'Non-controlling shareholder of Longmen Joint Venture | 'Noncontrolling shareholder of Longmen Joint Venture | 'Non-controlling shareholder of Longmen Joint Venture | 'Noncontrolling shareholder of Longmen Joint Venture | 'Noncontrolling shareholder of Longmen Joint Venture | 'Non-controlling shareholder of Longmen Joint Venture | 'Noncontrolling shareholder of Longmen Joint Venture | ' | ' | ' | ' | ' | ||||
Other payables - related parties | 51,919 | 46,401 | 61,899 | 5,299 | 2,041 | 46,401 | 2,041 | 51,919 | 71,392 | 5,299 | 43,636 | 60,180 | 86,998 | 85,052 | 20,001 | 0 | ||||
Shaanxi Steel [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Related Party Relationship | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | ' | ' | ' | ' | ' | ||||
Other payables - related parties | 44,173 | 43,902 | ' | ' | ' | 43,902 | ' | 44,173 | 13,445 | ' | 44,363 | 0 | 0 | 0 | 0 | 0 | ||||
Wendlar Investment Management Group Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Related Party Relationship | ' | ' | ' | ' | ' | ' | ' | 'Common control under CEO | 'Common control under CEO | ' | 'Common control under CEO | ' | ' | ' | ' | ' | ||||
Other payables - related parties | 911 | 887 | 848 | ' | ' | 887 | ' | 911 | 361 | ' | 895 | 836 | 343 | 263 | 241 | 0 | ||||
Yangpu Capital Automobile [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Related Party Relationship | ' | ' | ' | ' | ' | ' | ' | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | ' | ' | ' | ' | ' | ||||
Other payables - related parties | 254 | 216 | 178 | 1,393 | 1,377 | 216 | 1,377 | 254 | 106 | 1,393 | 291 | 141 | 71 | 0 | 1,398 | 1,350 | ||||
Tianjin Daqiuzhuang Steel Plates Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Related Party Relationship | ' | ' | ' | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | ' | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | ' | ' | ' | ' | ' | ||||
Other payables - related parties | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | 0 | 0 | 744 | 0 | 5,771 | 0 | ||||
Sichuan Yutai Trading Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Related Party Relationship | 'Significant influence by Long Steel Group | [2] | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | [1] | 'Significant influence by Long Steel Group | [1] | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | [2] | ' | ' | ' | ' | ' |
Other payables - related parties | ' | ' | ' | ' | ' | ' | ' | ' | 20,565 | ' | ' | ' | 33,106 | 0 | ' | ' | ||||
Tianjin General Quigang Pipe Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Related Party Relationship | ' | ' | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | ' | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | ' | ' | ' | ' | ' | ||||
Other payables - related parties | ' | ' | ' | 0 | 0 | ' | 0 | ' | ' | 0 | 0 | 0 | ' | ' | 0 | 4,547 | ||||
Tianjin Hengying Trading Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Related Party Relationship | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'Partially owned by CEO through indirect shareholding | ' | ' | ' | ' | ' | ||||
Other payables - related parties | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | ' | 1,040 | 0 | ||||
Xi'an Pinghe Metallurgical Raw Material Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Related Party Relationship | 'Noncontrolling shareholder of Long Steel Group | 'Noncontrolling shareholder of Long Steel Group | 'Noncontrolling shareholder of Long Steel Group | 'Non-controlling shareholder of Long Steel Group | 'Non-controlling shareholder of Long Steel Group | 'Noncontrolling shareholder of Long Steel Group | 'Non-controlling shareholder of Long Steel Group | 'Noncontrolling shareholder of Long Steel Group | 'Noncontrolling shareholder of Long Steel Group | 'Non-controlling shareholder of Long Steel Group | 'Noncontrolling shareholder of Long Steel Group | ' | ' | ' | ' | ' | ||||
Other payables - related parties | 0 | 0 | 4,788 | ' | ' | 0 | ' | 0 | ' | ' | 0 | 4,761 | ' | ' | 0 | 0 | ||||
Wenchun Han [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Related Party Relationship | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'Director of General Steel (China) | 'Director of General Steel (China) | ' | ' | ' | ' | ' | ||||
Other payables - related parties | ' | ' | ' | 0 | 0 | ' | 0 | ' | ' | 0 | 0 | 0 | ' | ' | 0 | 2,124 | ||||
Tianjin Dazhan Industry Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Related Party Relationship | ' | ' | 'Common control under CEO | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | ' | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | ' | ' | ' | ' | ' | ||||
Other payables - related parties | 4,020 | 5,609 | 4,554 | ' | ' | 5,609 | ' | 4,020 | 3,198 | ' | 473 | 3,695 | 2,481 | 0 | 0 | 0 | ||||
Maoming Shengze Trading Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Related Party Relationship | ' | ' | ' | ' | ' | ' | ' | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirectshareholding | 'Partially owned by CEO through indirect shareholding | ' | ' | ' | ' | ' | ||||
Other payables - related parties | 1,566 | 1,014 | 1,021 | ' | ' | 1,014 | ' | 1,566 | ' | ' | 1,745 | 0 | ' | ' | 0 | 0 | ||||
Victory Energy Resource Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Related Party Relationship | ' | ' | ' | ' | ' | ' | ' | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | ' | 'Partially owned by CEO through indirect shareholding | ' | ' | ' | ' | ' | ||||
Other payables - related parties | 1,375 | 835 | 7,335 | ' | ' | 835 | ' | 1,375 | 7,240 | ' | 1,375 | 0 | 7,320 | 7,320 | 0 | 0 | ||||
Long Steel Comprehensive Service Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Related Party Relationship | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'Owned by Long Steel Group | ' | ' | ' | ' | ' | ' | ||||
Other payables - related parties | ' | ' | ' | 397 | 7,327 | ' | 7,327 | ' | ' | 397 | ' | ' | ' | ' | ' | 0 | ||||
Others [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Related Party Relationship | 'Entities either owned or have significant influence by our affiliates or management | 'Entities either owned or have significant influence by our affiliates or management | 'Entities either owned or have significant influence by our affiliates or management | 'Entities either owned or have significant influence by our affiliates or management | 'Entities either owned or have significant influence by our affiliates or management | 'Entities either owned or have significant influence by our affiliates or management | 'Entities either owned or have significant influence by our affiliates or management | 'Entities either owned or have significant influence by our affiliates or management | 'Entities either owned or have significant influence by our affiliates or management | 'Entities either owned or have significant influence by our affiliates or management | 'Entities either owned or have significant influence by our affiliates or management | ' | ' | ' | ' | ' | ||||
Other payables - related parties | $1,059 | $1,532 | $751 | $456 | $196 | $1,532 | $196 | $1,059 | $102 | $456 | $921 | $642 | $72 | $1,458 | $422 | $25 | ||||
[1] | The CEO is referred to herein as the chief executive officer of General Steel Holdings, Inc. | |||||||||||||||||||
[2] | Long Steel Group has the ability to significantly influence the operating and financial decisions of the entity through equity ownership either directly or through key employees, commercial contractual terms, or the ability to assign management personnel. |
Recovered_Sheet11
Related party transactions and balances (Details 11) (USD $) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2011 | Jun. 30, 2011 | Jun. 30, 2013 | Jun. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | ||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Related Party Relationship | ' | ' | ' | 'Significant influence by Long Steel Group | [1] | ' | ' | ' | 'Relationship | 'Relationship | ' | 'Partially owned by CEO through indirect shareholding | ' | ' | ' | ' | ' | |||
Customer deposits - related parties | $14,512 | $7,798 | $12,649 | $54,385 | $65,806 | $7,798 | $65,806 | $14,512 | $83,518 | $54,385 | $64,881 | $21,998 | $39,134 | $57,403 | $68,277 | $54,922 | ||||
Shaanxi Yuchang Trading Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Related Party Relationship | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | ' | ' | ' | ' | ' | ||||
Customer deposits - related parties | 10 | 1,181 | 1,401 | 23,256 | 31,768 | 1,181 | 31,768 | 10 | 2,845 | 23,256 | 10 | 4,869 | 3,813 | 13,205 | 24,256 | 0 | ||||
Sichuan Yutai Trading Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Related Party Relationship | 'Significant influence by Long Steel Group | [2] | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | [1] | 'Significant influence by Long Steel Group | [1] | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | [2] | ' | ' | ' | ' | ' |
Customer deposits - related parties | 0 | 0 | 1,708 | 9,321 | 89 | 0 | 89 | 0 | 3,462 | 9,321 | 0 | 2,163 | 0 | 10,738 | 5,972 | 0 | ||||
Tianjin Hengying Trading Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Related Party Relationship | ' | ' | 'Common control under CEO | 'Partially owned by CEO through indirect shareholding | [2] | 'Partially owned by CEO through indirect shareholding | ' | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | [1] | ' | ' | ' | ' | ' | ||
Customer deposits - related parties | 0 | 0 | 0 | 6,384 | 4,902 | 0 | 4,902 | 0 | 12,668 | 6,384 | 0 | 90 | 0 | 20,592 | 1,506 | 0 | ||||
Tianwu General Steel Material Trading Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Related Party Relationship | ' | ' | ' | ' | ' | ' | ' | ' | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Investee of General Steel (China) | ' | ' | ' | ' | ' | ||||
Customer deposits - related parties | ' | ' | ' | 23 | 2,700 | ' | 2,700 | ' | 1,157 | 23 | 46,521 | 0 | 0 | 0 | 9,102 | 0 | ||||
Long Steel Group [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Related Party Relationship | 'Noncontrolling shareholder of Longmen Joint Venture | 'Noncontrolling shareholder of Longmen Joint Venture | 'Noncontrolling shareholder of Longmen Joint Venture | 'Non-controlling shareholder of Longmen Joint Venture | 'Non-controlling shareholder of Longmen Joint Venture | 'Noncontrolling shareholder of Longmen Joint Venture | 'Non-controlling shareholder of Longmen Joint Venture | 'Noncontrolling shareholder of Longmen Joint Venture | 'Noncontrolling shareholder of Longmen Joint Venture | 'Non-controlling shareholder of Longmen Joint Venture | 'Noncontrolling shareholder of Longmen Joint Venture | ' | ' | ' | ' | ' | ||||
Customer deposits - related parties | 13,600 | 5,380 | 4,406 | 171 | 1,149 | 5,380 | 1,149 | 13,600 | 10,372 | 171 | 15,038 | 8,864 | 22,516 | 1,713 | 4,755 | 48,161 | ||||
Shaanxi Coal Sourcing Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Related Party Relationship | ' | ' | ' | ' | ' | ' | ' | ' | 'Shareholder of Longmen Joint Venture | ' | ' | ' | ' | ' | ' | ' | ||||
Customer deposits - related parties | ' | ' | ' | ' | ' | ' | ' | ' | 13,663 | ' | ' | ' | 0 | 0 | 0 | ' | ||||
Beijing Shenhua Xinyuan Metal Materials Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Related Party Relationship | ' | ' | ' | ' | ' | ' | ' | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | ' | ' | ' | ' | ' | ||||
Customer deposits - related parties | ' | ' | ' | 0 | 1,324 | ' | 1,324 | ' | 0 | 0 | 0 | 0 | 0 | 0 | 1,345 | 1,299 | ||||
Shaanxi Haiyan Trade Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Related Party Relationship | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | ' | ' | 'Significant influence by Long Steel Group | ' | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | ' | 'Significant influence by Long Steel Group | ' | ' | ' | ' | ' | ||||
Customer deposits - related parties | ' | ' | ' | ' | ' | ' | ' | ' | 4,576 | ' | 0 | 0 | 6,985 | 5,911 | 6,822 | 0 | ||||
Shaanxi Junlong Rolling Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Related Party Relationship | 'Investee of Long Steel Group | 'Investee of Long Steel Group | 'Investee of Long Steel Group | ' | ' | 'Investee of Long Steel Group | ' | 'Investee of Long Steel Group | 'Investee of Long Steel Group | 'Investee of Long Steel Group | 'Investee of Long Steel Group | ' | ' | ' | ' | ' | ||||
Customer deposits - related parties | 679 | 672 | 4,611 | 2,775 | 2,748 | 672 | 2,748 | 679 | 3,283 | 2,775 | 2,748 | 5,615 | 5,770 | 2,026 | 1,540 | 0 | ||||
Tianjin Dazhan Industry Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Related Party Relationship | ' | ' | 'Common control under CEO | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | ' | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | ' | ' | ' | ' | ' | ||||
Customer deposits - related parties | ' | ' | ' | 2,113 | 0 | ' | 0 | ' | 17,844 | 2,113 | 0 | 0 | 0 | 3,169 | 11,178 | 0 | ||||
Shaanxi Shenganda Trading Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Related Party Relationship | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | ' | ' | ' | ' | ' | ||||
Customer deposits - related parties | 0 | 0 | 0 | 0 | 15,337 | 0 | 15,337 | 0 | 13,160 | 0 | 275 | 353 | 0 | 0 | 1,750 | 0 | ||||
Others [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Related Party Relationship | 'Entities either owned or have significant influence by our affiliates or management | 'Entities either owned or have significant influence by our affiliates or management | 'Entities either owned or have significant influence by our affiliates or management | 'Entities either owned or have significant influence by our affiliates or management | 'Entities either owned or have significant influence by our affiliates or management | 'Entities either owned or have significant influence by our affiliates or management | 'Entities either owned or have significant influence by our affiliates or management | 'Entities either owned or have significant influence by our affiliates or management | 'Entities either owned or have significant influence by our affiliates or management | 'Entities either owned or have significant influence by our affiliates or management | 'Entities either owned or have significant influence by our affiliates or management | ' | ' | ' | ' | ' | ||||
Customer deposits - related parties | 223 | 565 | 523 | 0 | 48 | 565 | 48 | 223 | 488 | 0 | 289 | 44 | 50 | 49 | 51 | 381 | ||||
Hancheng Haiyan Coking Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Related Party Relationship | 'Noncontrolling shareholder of Long Steel Group | 'Noncontrolling shareholder of Long Steel Group | 'Investee of Long Steel Group | 'Non-controlling shareholder of Long Steel Group | 'Non-controlling shareholder of Long Steel Group | 'Noncontrolling shareholder of Long Steel Group | 'Non-controlling shareholder of Long Steel Group | 'Noncontrolling shareholder of Long Steel Group | 'Non-controlling shareholder of Longmen Joint Venture | 'Non-controlling shareholder of Long Steel Group | 'Noncontrolling shareholder of Long Steel Group | ' | ' | ' | ' | ' | ||||
Customer deposits - related parties | ' | ' | ' | 7,965 | 5,741 | ' | 5,741 | ' | ' | 7,965 | 0 | 0 | ' | ' | 0 | 5,081 | ||||
Shaanxi Steel [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Related Party Relationship | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | ' | ' | ' | ' | ' | ||||
Customer deposits - related parties | ' | ' | ' | 2,377 | 0 | ' | 0 | ' | ' | 2,377 | ' | ' | ' | ' | ' | 0 | ||||
Tianjin General Qiugang Pipe Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Related Party Relationship | ' | ' | ' | ' | ' | ' | ' | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | 'Partially owned by CEO through indirect shareholding | ' | ' | ' | ' | ' | ||||
Customer deposits - related parties | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0 | $0 | ' | ' | $9,102 | $0 | ||||
[1] | The CEO is referred to herein as the chief executive officer of General Steel Holdings, Inc. | |||||||||||||||||||
[2] | Long Steel Group has the ability to significantly influence the operating and financial decisions of the entity through equity ownership either directly or through key employees, commercial contractual terms, or the ability to assign management personnel. |
Recovered_Sheet12
Related party transactions and balances (Details 12) (USD $) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2011 | Jun. 30, 2011 | Jun. 30, 2013 | Jun. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Related Party Relationship | ' | ' | ' | 'Significant influence by Long Steel Group | [1] | ' | ' | ' | 'Relationship | 'Relationship | ' | 'Partially owned by CEO through indirect shareholding | ' | ' | ' | ' | ' |
Deposit due to sales representatives - related parties | $1,809 | $1,798 | $1,772 | ' | ' | $1,798 | ' | $1,809 | $1,235 | ' | $1,997 | $1,238 | $1,236 | $1,236 | $943 | $455 | |
Hancheng Haiyan Coking Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Related Party Relationship | 'Noncontrolling shareholder of Long Steel Group | 'Noncontrolling shareholder of Long Steel Group | 'Investee of Long Steel Group | 'Non-controlling shareholder of Long Steel Group | 'Non-controlling shareholder of Long Steel Group | 'Noncontrolling shareholder of Long Steel Group | 'Non-controlling shareholder of Long Steel Group | 'Noncontrolling shareholder of Long Steel Group | 'Non-controlling shareholder of Longmen Joint Venture | 'Non-controlling shareholder of Long Steel Group | 'Noncontrolling shareholder of Long Steel Group | ' | ' | ' | ' | ' | |
Deposit due to sales representatives - related parties | 587 | 583 | 575 | ' | ' | 583 | ' | 587 | 617 | ' | 0 | 619 | 618 | 618 | 471 | 455 | |
Shaanxi Junlong Rolling Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Related Party Relationship | 'Investee of Long Steel Group | 'Investee of Long Steel Group | 'Investee of Long Steel Group | ' | ' | 'Investee of Long Steel Group | ' | 'Investee of Long Steel Group | 'Investee of Long Steel Group | 'Investee of Long Steel Group | 'Investee of Long Steel Group | ' | ' | ' | ' | ' | |
Deposit due to sales representatives - related parties | 635 | 632 | 622 | ' | ' | 632 | ' | 635 | 618 | ' | 0 | 619 | 618 | 618 | 472 | 0 | |
Gansu Yulong Trading Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Related Party Relationship | ' | ' | ' | ' | ' | ' | ' | ' | 'Significant influence by Long Steel Group | ' | 'Significant influence by Long Steel Group | ' | ' | ' | ' | ' | |
Deposit due to sales representatives - related parties | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,408 | 0 | ' | ' | 0 | 0 | |
Shaanxi Yuchang Trading Co Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Related Party Relationship | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | 'Significant influence by Long Steel Group | ' | ' | ' | ' | ' | |
Deposit due to sales representatives - related parties | $587 | $583 | $575 | ' | ' | $583 | ' | $587 | ' | ' | $589 | $0 | ' | ' | $0 | $0 | |
[1] | The CEO is referred to herein as the chief executive officer of General Steel Holdings, Inc. |
Recovered_Sheet13
Related party transactions and balances (Details 13) (USD $) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2011 | Jun. 30, 2011 | Jun. 30, 2013 | Jun. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Related Party Relationship | ' | ' | ' | 'Significant influence by Long Steel Group | [1] | ' | ' | ' | 'Relationship | 'Relationship | ' | 'Partially owned by CEO through indirect shareholding | ' | ' | ' | ' | ' |
Long-term loans - related party | $24,450 | $29,160 | $33,516 | $107,695 | $134,566 | $29,160 | $134,566 | $24,450 | $42,741 | $107,695 | $19,644 | $38,088 | $92,856 | $92,797 | $92,035 | $91,020 | |
Shaanxi Steel [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Related Party Relationship | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | ' | ' | ' | ' | ' | |
Long-term loans - related party | $24,450 | $29,160 | $33,516 | $107,695 | $134,566 | $29,160 | $134,566 | $24,450 | $42,741 | $107,695 | $19,644 | $38,088 | $92,856 | $92,797 | $92,035 | $91,020 | |
[1] | The CEO is referred to herein as the chief executive officer of General Steel Holdings, Inc. |
Recovered_Sheet14
Related party transactions and balances (Details 14) (USD $) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2011 | Jun. 30, 2011 | Jun. 30, 2013 | Jun. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Related Party Relationship | ' | ' | ' | 'Significant influence by Long Steel Group | [1] | ' | ' | ' | 'Relationship | 'Relationship | ' | 'Partially owned by CEO through indirect shareholding | ' | ' | ' |
Long-term other payable - related party | $0 | $0 | $43,252 | ' | ' | $0 | ' | $0 | ' | ' | $0 | $43,008 | $0 | $0 | |
Shaanxi Steel [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Related Party Relationship | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | 'Majority shareholder of Long Steel Group | ' | ' | ' | |
Long-term other payable - related party | $0 | $0 | $43,252 | ' | ' | $0 | ' | $0 | ' | ' | $0 | $43,008 | $0 | $0 | |
[1] | The CEO is referred to herein as the chief executive officer of General Steel Holdings, Inc. |
Recovered_Sheet15
Related party transactions and balances (Details 15) (USD $) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Sep. 30, 2010 | Jun. 30, 2010 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2011 | Jun. 30, 2010 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 30, 2010 | Dec. 31, 2010 |
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Beginning balance | $77,199 | $77,199 | $77,199 | $78,524 | $78,524 | $78,524 | $57,591 | $57,591 | $57,591 | ' | ' | $77,199 | $78,524 | $57,591 | $16,487 | $77,199 | $78,524 | $57,591 | $16,487 | $77,199 | $78,524 | $57,591 | $16,487 | $16,487 |
Add: Reimbursement for dismantled assets | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | 568 |
Add: Reimbursement for loss of efficiency | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | 20,676 |
Add: Reimbursement for trial production costs | ' | ' | ' | 0 | 0 | 0 | 13,988 | 14,096 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 14,042 | ' | 13,584 |
Add: Deferred depreciation cost during free use period | ' | ' | ' | 0 | 0 | 0 | 6,878 | 6,799 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,904 | ' | 6,656 |
Less: Lease income realized | -542 | -539 | -532 | -528 | -530 | -530 | -525 | -512 | -452 | -277 | -184 | -1,071 | -1,060 | -964 | -320 | -1,613 | -1,588 | -1,489 | -598 | -2,158 | -2,119 | -2,008 | -900 | -943 |
Exchange rate effect | 2,072 | 1,594 | 436 | 597 | 696 | 646 | 1,481 | 827 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,403 | 794 | 1,995 | ' | 563 |
Ending balance | 77,658 | 77,199 | 77,199 | 77,533 | 78,524 | 78,524 | 78,449 | 57,591 | 57,591 | ' | ' | 77,199 | 78,524 | 57,591 | ' | 77,658 | 77,533 | 78,449 | ' | 77,444 | 77,199 | 78,524 | ' | 57,591 |
Current portion | -2,178 | -2,164 | -2,132 | -2,115 | -2,117 | -2,116 | -2,091 | -2,067 | ' | ' | ' | -2,164 | -2,117 | -2,067 | ' | -2,178 | -2,115 | -2,091 | ' | -2,187 | -2,120 | -2,099 | ' | -1,971 |
Noncurrent portion | $75,480 | $75,558 | $74,971 | $75,418 | $76,043 | $76,524 | $76,358 | $76,282 | ' | ' | ' | $75,558 | $76,043 | $76,282 | ' | $75,480 | $75,418 | $76,358 | ' | $75,257 | $75,079 | $76,425 | ' | $55,620 |
Recovered_Sheet16
Related party transactions and balances (Details Textual) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | 24 Months Ended | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | 24 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Sep. 30, 2010 | Jun. 30, 2010 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2011 | Jun. 30, 2010 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2013 | Nov. 19, 2013 | Apr. 30, 2011 | Apr. 30, 2011 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Sep. 30, 2010 | Jun. 30, 2010 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2011 | Jun. 30, 2010 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 30, 2010 | Dec. 31, 2010 | Dec. 31, 2013 | Nov. 19, 2013 | Nov. 19, 2013 |
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | CNY | CNY | Shaanxi Xinglong Thermoelectric Co Ltd [Member] | Shaanxi Xinglong Thermoelectric Co Ltd [Member] | Shaanxi Iron and Steel Group [Member] | Shaanxi Iron and Steel Group [Member] | Shaanxi Iron and Steel Group [Member] | Shaanxi Iron and Steel Group [Member] | Shaanxi Iron and Steel Group [Member] | Shaanxi Iron and Steel Group [Member] | Shaanxi Iron and Steel Group [Member] | Shaanxi Iron and Steel Group [Member] | Shaanxi Iron and Steel Group [Member] | Shaanxi Iron and Steel Group [Member] | Shaanxi Iron and Steel Group [Member] | Shaanxi Iron and Steel Group [Member] | Shaanxi Iron and Steel Group [Member] | Shaanxi Iron and Steel Group [Member] | Shaanxi Iron and Steel Group [Member] | Shaanxi Iron and Steel Group [Member] | Shaanxi Iron and Steel Group [Member] | Shaanxi Iron and Steel Group [Member] | Shaanxi Iron and Steel Group [Member] | Shaanxi Iron and Steel Group [Member] | Shaanxi Iron and Steel Group [Member] | Shaanxi Iron and Steel Group [Member] | Shaanxi Iron and Steel Group [Member] | Tianjin Daqiuzhuang Steel Plates Co Ltd [Member] | Tianjin Daqiuzhuang Steel Plates Co Ltd [Member] | Tianjin Daqiuzhuang Steel Plates Co Ltd [Member] | Tianjin Daqiuzhuang Steel Plates Co Ltd [Member] | Tianjin Dazhan Industry Co Ltd [Member] | Tianjin Dazhan Industry Co Ltd [Member] | Tianjin Dazhan Industry Co Ltd [Member] | ||
USD ($) | CNY | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | CNY | USD ($) | CNY | CNY | USD ($) | USD ($) | USD ($) | CNY | ||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capital Lease, Monthly Base Rental | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0 | $3.10 | $1.60 | $3.10 | $0.20 | 1.7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.20 | 1.7 | ' | ' | ' | ' | ' | ' | ' |
Related Party Loans Secured | 139.9 | 139.9 | 191.6 | 61.8 | 118.1 | 159.2 | 85 | 139.5 | ' | ' | ' | 139.9 | 118.1 | 139.5 | ' | 139.9 | 61.8 | 85 | ' | 205.8 | 118 | 56.6 | 3 | 56.6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capital Leases, Income Statement, Lease Revenue | 0.5 | 0.5 | 0.5 | 0.5 | 0.5 | 0.5 | 0.5 | 0.5 | 0.5 | 0.3 | 0.2 | 1.1 | 1.1 | 1 | 0.3 | 1.6 | 1.6 | 1.5 | 0.6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | 0 | 0.8 | 0.8 | 0.8 | 0.8 | 0.8 | 0.8 | 0.8 | 0 | 1.6 | 1 | 1.5 | 0 | 1.6 | 1.5 | 2.3 | 2.2 | 0.9 | ' | ' | 34.4 | 215.8 | 215.8 | 34.4 | ' | ' | ' |
Percentage Of Equity Interest Sold | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 60.00% | 20.70% | 20.70% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 28.00% | 28.00% |
Proceeds From Sale Of Equity Interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8 | ' | ' | ' | ' | ' | 49 | ' | 11.3 | 72.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13.6 | 84.3 |
Percentage Of Equity Interest Retained | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 32.00% | 32.00% |
Gain On Equity Interest Deconsolidate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' |
Equity Method Investments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1.50 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $15.80 | ' | ' |
Equity_Details
Equity (Details) (USD $) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||||||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Sep. 30, 2010 | Jun. 30, 2010 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2011 | Jun. 30, 2010 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Balance | ($192,266) | ($165,590) | ($172,063) | ($128,945) | ($113,469) | ($56,189) | $34,699 | ' | $51,969 | ' | ' | ($172,063) | ($56,189) | $51,969 | ' | ($172,063) | ($56,189) | $51,969 | ' | ($172,063) | ($56,189) | $51,969 | ' |
Net income (loss) attributable to noncontrolling interest | 5,599 | -23,955 | 7,417 | -24,620 | -15,752 | -20,964 | -8,500 | -12,678 | -4,654 | -527 | -2,738 | -16,538 | -36,716 | -17,332 | -7,149 | -10,939 | -61,336 | -25,832 | -7,676 | -9,609 | -79,241 | -106,112 | -16,265 |
Usage of special reserve | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -845 | -1,259 | ' | ' |
Addition to Tianwu paid-in capital | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 18,028 | ' | ' | ' |
Deconsolidation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -20,458 | -39,398 | ' | ' |
Balance | -169,415 | -192,266 | -165,590 | -153,852 | -128,945 | -113,469 | 23,482 | 34,699 | ' | ' | ' | -192,266 | -128,945 | 34,699 | ' | -169,415 | -153,852 | 23,482 | ' | -188,911 | -172,063 | -56,189 | 51,969 |
Noncontrolling Interest [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance | ' | ' | -172,063 | ' | ' | -56,189 | ' | ' | ' | ' | ' | -172,063 | -56,189 | ' | ' | -172,063 | -56,189 | ' | ' | -172,063 | -56,189 | ' | ' |
Net income (loss) attributable to noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -61,336 | ' | ' | -9,609 | -79,241 | -106,112 | ' |
Addition to special reserve | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 351 | ' | ' | 553 | 605 | ' | ' |
Usage of special reserve | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -350 | ' | ' | -393 | -566 | ' | ' |
Addition to Tianwu paid-in capital | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 18,028 | ' | ' | ' |
Deconsolidation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -35,943 | ' | ' | -19,929 | -35,943 | ' | ' |
Foreign currency translation adjustments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -385 | ' | ' | -5,498 | -729 | ' | ' |
Balance | ' | ' | ' | -153,852 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -153,852 | ' | ' | -188,911 | -172,063 | -56,189 | ' |
Tongxing [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance | ' | ' | ' | ' | ' | 32,934 | ' | ' | ' | ' | ' | ' | 32,934 | ' | ' | ' | 32,934 | ' | ' | ' | 32,934 | ' | ' |
Net income (loss) attributable to noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 341 | ' | ' |
Addition to special reserve | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Usage of special reserve | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Deconsolidation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -33,654 | ' | ' |
Foreign currency translation adjustments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 379 | ' | ' |
Balance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Tongxing [Member] | Noncontrolling Interest [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance | ' | ' | ' | ' | ' | 32,934 | ' | ' | ' | ' | ' | ' | 32,934 | ' | ' | ' | 32,934 | ' | ' | ' | 32,934 | ' | ' |
Net income (loss) attributable to noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 341 | ' | ' | ' | 341 | ' | ' |
Addition to special reserve | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | 0 | ' | ' |
Usage of special reserve | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | 0 | ' | ' |
Deconsolidation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -33,654 | ' | ' | ' | -33,654 | ' | ' |
Foreign currency translation adjustments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 379 | ' | ' | ' | 379 | ' | ' |
Balance | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | 0 | ' | ' |
Non Controlling Interest Others Excluding Tongxing [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance | ' | ' | ' | ' | ' | -89,123 | ' | ' | ' | ' | ' | ' | -89,123 | ' | ' | ' | -89,123 | ' | ' | ' | -89,123 | ' | ' |
Net income (loss) attributable to noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -79,582 | ' | ' |
Addition to special reserve | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 605 | ' | ' |
Usage of special reserve | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -566 | ' | ' |
Deconsolidation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -2,289 | ' | ' |
Foreign currency translation adjustments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,108 | ' | ' |
Balance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -172,063 | ' | ' |
Non Controlling Interest Others Excluding Tongxing [Member] | Noncontrolling Interest [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance | ' | ' | ' | ' | ' | -89,123 | ' | ' | ' | ' | ' | ' | -89,123 | ' | ' | ' | -89,123 | ' | ' | ' | -89,123 | ' | ' |
Net income (loss) attributable to noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -61,677 | ' | ' | ' | -79,582 | ' | ' |
Addition to special reserve | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 351 | ' | ' | ' | 605 | ' | ' |
Usage of special reserve | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -350 | ' | ' | ' | -566 | ' | ' |
Deconsolidation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -2,289 | ' | ' | ' | -2,289 | ' | ' |
Foreign currency translation adjustments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -764 | ' | ' | ' | -1,108 | ' | ' |
Balance | ' | ' | ' | -153,852 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -153,852 | ' | ' | ' | -172,063 | ' | ' |
Tianwu [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance | ' | ' | 1,339 | ' | ' | ' | ' | ' | ' | ' | ' | 1,339 | ' | ' | ' | 1,339 | ' | ' | ' | 1,339 | ' | ' | ' |
Net income (loss) attributable to noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' |
Addition to special reserve | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' |
Usage of special reserve | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' |
Addition to Tianwu paid-in capital | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 18,028 | ' | ' | ' |
Deconsolidation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -19,929 | ' | ' | ' |
Foreign currency translation adjustments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 560 | ' | ' | ' |
Balance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' |
Tianwu [Member] | Noncontrolling Interest [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance | ' | ' | 1,339 | ' | ' | ' | ' | ' | ' | ' | ' | 1,339 | ' | ' | ' | 1,339 | ' | ' | ' | 1,339 | ' | ' | ' |
Net income (loss) attributable to noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' |
Addition to special reserve | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' |
Usage of special reserve | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' |
Addition to Tianwu paid-in capital | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 18,028 | ' | ' | ' |
Deconsolidation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -19,929 | ' | ' | ' |
Foreign currency translation adjustments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 560 | ' | ' | ' |
Balance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' |
Non Controlling Interest Others Excluding Tianwu [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance | ' | ' | -173,402 | ' | ' | ' | ' | ' | ' | ' | ' | -173,402 | ' | ' | ' | -173,402 | ' | ' | ' | -173,402 | ' | ' | ' |
Net income (loss) attributable to noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -9,611 | ' | ' | ' |
Addition to special reserve | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 553 | ' | ' | ' |
Usage of special reserve | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -393 | ' | ' | ' |
Addition to Tianwu paid-in capital | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' |
Deconsolidation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' |
Foreign currency translation adjustments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -6,058 | ' | ' | ' |
Balance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -188,911 | ' | ' | ' |
Non Controlling Interest Others Excluding Tianwu [Member] | Noncontrolling Interest [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance | ' | ' | -173,402 | ' | ' | ' | ' | ' | ' | ' | ' | -173,402 | ' | ' | ' | -173,402 | ' | ' | ' | -173,402 | ' | ' | ' |
Net income (loss) attributable to noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -9,611 | ' | ' | ' |
Addition to special reserve | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 553 | ' | ' | ' |
Usage of special reserve | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -393 | ' | ' | ' |
Addition to Tianwu paid-in capital | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' |
Deconsolidation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' |
Foreign currency translation adjustments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -6,058 | ' | ' | ' |
Balance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ($188,911) | ' | ' | ' |
Equity_Details_Textual
Equity (Details Textual) | 0 Months Ended | 1 Months Ended | 12 Months Ended | 0 Months Ended | 3 Months Ended | 0 Months Ended | 0 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Aug. 16, 2013 | Aug. 16, 2013 | Mar. 01, 2012 | Aug. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 30, 2010 | Dec. 31, 2010 | Dec. 31, 2013 | Nov. 19, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Mar. 27, 2012 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Oct. 11, 2013 | Dec. 30, 2013 | Sep. 28, 2013 | Mar. 31, 2012 | Dec. 31, 2013 | Sep. 30, 2013 | Apr. 29, 2011 | Mar. 01, 2012 | Aug. 16, 2013 | Aug. 16, 2013 | Nov. 19, 2013 | Aug. 16, 2013 | Aug. 16, 2013 | Nov. 19, 2013 | Nov. 19, 2013 | Nov. 30, 2013 | Dec. 31, 2013 | Nov. 19, 2013 | Aug. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2011 | Mar. 27, 2012 | Dec. 31, 2012 | Sep. 30, 2012 | Mar. 27, 2012 | Dec. 31, 2011 | Sep. 26, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Dec. 31, 2010 | Dec. 30, 2013 | Sep. 28, 2013 | Sep. 28, 2013 | Jun. 27, 2013 | Jun. 27, 2013 | Mar. 28, 2013 | Mar. 28, 2013 | Dec. 28, 2012 | Sep. 27, 2012 | Jun. 28, 2012 | Mar. 26, 2012 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2011 | 18-May-07 | 31-May-07 | Dec. 31, 2007 | 18-May-07 | Dec. 31, 2011 | Mar. 31, 2011 | Dec. 31, 2011 | Aug. 16, 2013 | Aug. 16, 2013 | Aug. 16, 2013 | Aug. 16, 2013 | Dec. 31, 2011 | Aug. 16, 2013 | Aug. 16, 2013 | Aug. 16, 2013 | Aug. 16, 2013 | Aug. 16, 2013 | Aug. 16, 2013 | Aug. 16, 2013 | Dec. 31, 2011 | |
USD ($) | CNY | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | CNY | Consultant [Member] | Two Thousand Eight Equity Incentive Plan [Member] | Two Thousand Eight Equity Incentive Plan [Member] | Longmen Joint Venture [Member] | Longmen Joint Venture [Member] | Longmen Joint Venture [Member] | Longmen Joint Venture [Member] | Hancheng Tongxing Metallurgy Co Ltd [Member] | Tianwu Joint Venture [Member] | Tianwu Joint Venture [Member] | Tianwu Joint Venture [Member] | Tianjin Material and Equipment Group Corporation [Member] | Tianjin Material and Equipment Group Corporation [Member] | Tianjin Dazhan Industry Co Ltd [Member] | Tianjin Dazhan Industry Co Ltd [Member] | Tianwu [Member] | Tianwu [Member] | Tianwu [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Repurchase One [Member] | Repurchase Two [Member] | Repurchase Two [Member] | Repurchase Two [Member] | Senior Management and Director [Member] | Senior Management and Director [Member] | Senior Management and Director [Member] | Senior Management and Director [Member] | Senior Management and Director [Member] | Senior Management and Director [Member] | Senior Management and Director [Member] | Senior Management and Director [Member] | Senior Management and Director [Member] | Senior Management and Director [Member] | Senior Management and Director [Member] | Senior Management and Director [Member] | Senior Management and Director [Member] | Senior Management and Director [Member] | Senior Management and Director [Member] | Senior Management and Director [Member] | One of Maoming Hengdabs creditors [Member] | Ms.Ding Yumei [Member] | Ms.Ding Yumei [Member] | Victory New Holdings Limited [Member] | Victory New Holdings Limited [Member] | Victory New Holdings Limited [Member] | Victory New Holdings Limited [Member] | Issue One [Member] | Issue One [Member] | Issue Two [Member] | Issue Three [Member] | Issue Three [Member] | Issue Three [Member] | Issue Three [Member] | Issue Three [Member] | Issue Three [Member] | Issue Three [Member] | Issue Three [Member] | Issue Three [Member] | Issue Three [Member] | Issue Three [Member] | Issue Three [Member] | Issue Four [Member] | |||||||||||||
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | CNY | USD ($) | CNY | USD ($) | CNY | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Two Thousand Eight Equity Incentive Plan [Member] | Two Thousand Eight Equity Incentive Plan [Member] | Two Thousand Eight Equity Incentive Plan [Member] | Two Thousand Eight Equity Incentive Plan [Member] | Two Thousand Eight Equity Incentive Plan [Member] | Two Thousand Eight Equity Incentive Plan [Member] | Two Thousand Eight Equity Incentive Plan [Member] | Two Thousand Eight Equity Incentive Plan [Member] | Two Thousand Eight Equity Incentive Plan [Member] | Two Thousand Eight Equity Incentive Plan [Member] | Two Thousand Eight Equity Incentive Plan [Member] | USD ($) | USD ($) | Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | Two Thousand Eight Equity Incentive Plan [Member] | Two Thousand Eight Equity Incentive Plan [Member] | USD ($) | CNY | USD ($) | CNY | Two Thousand Eight Equity Incentive Plan [Member] | Longmen Joint Venture [Member] | Tianwu Joint Venture [Member] | Tianwu Joint Venture [Member] | Tianwu Joint Venture [Member] | Tianwu Joint Venture [Member] | Tianjin Material and Equipment Group Corporation [Member] | Tianjin Material and Equipment Group Corporation [Member] | Two Thousand Eight Equity Incentive Plan [Member] | ||||||||||||||||||||||||||||||||||||
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | CNY | USD ($) | CNY | USD ($) | CNY | USD ($) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 163,150 | ' | ' | 163,150 | ' | ' | ' | ' | 165,400 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 240,734 | 191,150 | ' | ' | ' | ' | 189,650 | ' | ' | ' | ' | ' | ' | ' | 166,150 |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.91 | $0.88 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.88 | ' | $1.02 | $1.02 | $1.01 | $1.01 | ' | ' | $0.80 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $2.40 | $1.44 | ' | ' | ' | ' | $1.18 | ' | ' | ' | ' | ' | ' | ' | $1.04 |
Stock Issued During Period, Value, Other | $27,000,000 | 168,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $45,100,000 | 280,000,000 | ' | $18,000,000 | 112,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $27,000,000 | 168,000,000 | $27,000,000 | 168,000,000 | ' | ' | $45,100,000 | 280,000,000 | $45,100,000 | 280,000,000 | $18,000,000 | 112,000,000 | ' |
Equity Method Investment, Ownership Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 60.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 60.00% | 60.00% | 60.00% | ' | 60.00% | 60.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 60.00% | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,092,899 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8,374,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred Stock, Voting Rights | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'Series A Preferred Stock carry a voting power of 30% of the combined voting power of the Companys common and preferred stock while outstanding. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sale Of Equity Interest Percentage | ' | ' | 22.76% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 22.76% | ' | ' | ' | 22.76% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loan repayment from (payment to) subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -3,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Variable Interest Entity, Consolidated, Carrying Amount, Assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 40,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Noncontrolling Interest in Variable Interest Entity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 32,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sale Of Equity, Cash Consideration | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sale Of Equity Non Cash Consideration Dividend | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Noncontrolling Interest, Decrease from Deconsolidation | ' | ' | ' | ' | 20,458,000 | 39,398,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | 19,929,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 163,650 | ' | 163,150 | 163,150 | ' | ' | 174,900 | 169,150 | 167,900 | 165,400 | 165,400 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise Price Of Common Stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1 | $1.29 | $0.80 | $0.75 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Allocated Share-based Compensation Expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200,000 | 200,000 | 300,000 | 600,000 | 2,200,000 | ' | ' | ' | ' | ' | ' | ' | 200,000 | 200,000 | 100,000 | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | 600,000 | 300,000 | ' | ' | ' | ' | 200,000 | ' | ' | ' | ' | ' | ' | ' | 200,000 |
Stock Repurchase Program, Number of Shares Authorized to be Repurchased | ' | ' | ' | ' | ' | ' | 2,000,000 | ' | ' | ' | ' | ' | ' | ' | 4,000,000 | ' | ' | 4,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,000,000 | 2,000,000 | 1,381,328 | 1,400,000 | 1,381,328 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Repurchase Program Shares Repurchased Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Treasury Stock, Number of Shares Held | ' | ' | ' | ' | ' | ' | 774,218 | ' | 316,760 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,472,306 | 2,472,306 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage Of Equity Interest Sold | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 60.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 32.00% | ' | ' | ' | ' | ' | ' | 28.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds From Sale Of Equity Interest | ' | ' | ' | ' | 8,000,000 | ' | ' | ' | ' | 49,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13,600,000 | 84,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage Of Equity Interest Retained | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 32.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deconsolidation, Gain (Loss), Amount | ' | ' | ' | ' | 1,011,000 | 0 | 0 | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Shares, Issued for Services | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares Issued, Price Per Share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.85 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Repurchase Program Number Of Shares Authorized To Be Repurchased Increased | ' | ' | ' | ' | ' | ' | ' | 1,000,000 | 1,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Repurchased During Period, Shares | ' | ' | ' | ' | ' | ' | 774,218 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Repurchased During Period, Value | ' | ' | ' | ' | ' | ' | 1,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Treasury Stock, Shares | ' | ' | ' | ' | 2,472,306 | 2,472,306 | 1,090,978 | ' | 316,760 | ' | ' | 2,472,306 | 2,472,306 | 2,472,306 | 2,472,306 | 2,472,306 | 1,090,978 | ' | 1,090,978 | 1,090,978 | 713,660 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term Debt, Gross | ' | ' | ' | ' | ' | ' | 4,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Shares, New Issues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 166,150 | 189,650 | 191,150 | 240,734 | 733,300 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Conversion, Converted Instrument, Shares Issued | ' | ' | ' | 350,885 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,208,791 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 928,163 | 974,571 | 974,571 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Conversion, Original Debt, Amount | ' | ' | ' | 3,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,800,000 | 4,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Conversion, Original Debt, Make-Whole Amount | ' | ' | ' | 700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Conversion, Original Debt, Accrued Interest Amount | ' | ' | ' | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Treasury Stock, Value, Acquired, Cost Method | ' | ' | ' | ' | ' | $1,404,000 | $1,925,000 | $900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $770 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sale of Stock, Price Per Share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1.04 | $1.18 | $1.44 | $2.40 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Retirement_plan_Details_Textua
Retirement plan (Details Textual) (USD $) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Sep. 30, 2010 | Jun. 30, 2010 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2011 | Jun. 30, 2010 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Defined Contribution Plan Employer Matching Contribution Percent Criteria One | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20.00% | ' | ' | ' | 20.00% | ' | ' | ' |
Defined Contribution Plan Employer Matching Contribution Percent Criteria Two | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12.00% | ' | ' | ' | 12.00% | ' | ' | ' |
Pension Expense | $2.30 | $1.90 | $2.20 | $1.70 | $2 | $1.80 | $1.50 | $1.70 | $1.50 | $1.20 | $1.10 | $4.10 | $3.80 | $3.20 | $2.20 | $6.40 | $5.50 | $4.70 | $3.40 | $8.50 | $7.40 | $7 | $5.10 |
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8.00% | ' | ' | ' | 8.00% | ' | ' | ' |
Statutory_reserves_Details_Tex
Statutory reserves (Details Textual) (USD $) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||
In Millions, unless otherwise specified | Mar. 31, 2013 | Mar. 31, 2012 | Mar. 31, 2011 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2011 | Jun. 30, 2010 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Contributions To Statutory Reserve Fund Percentage | ' | ' | ' | ' | ' | ' | ' | 10.00% | ' | ' | ' | 10.00% | ' | ' | ' |
Maximum Percentage Of Reserve Fund Balance | ' | ' | ' | ' | ' | ' | ' | 50.00% | ' | ' | ' | 50.00% | ' | ' | ' |
Minimum Percentage Of Reserve Fund Balance | ' | ' | ' | ' | ' | ' | ' | 25.00% | ' | ' | ' | 25.00% | ' | ' | ' |
Contributions To Special Reserve | $0.20 | $0.40 | $0.10 | $0.50 | $0.70 | $0.30 | $0 | $0.70 | $0.90 | $0.30 | $0 | $1.20 | $1.30 | $82 | $40 |
Utilisation Of Special Reserve | 0.1 | 0.2 | 0 | 0.3 | 0.3 | 0 | 0 | 0.4 | 0.9 | 0 | 0 | 0.8 | 1.3 | 0 | 0 |
Contribution To Surplus Reserve Fund | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.10 | ' |
Commitment_and_contingencies_D
Commitment and contingencies (Details) (USD $) | Dec. 31, 2013 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | ||
Commitment And Contingencies [Line Items] | ' | ' |
2014 | $1,450 | $1,445 |
2015 | 683 | 680 |
2016 | 562 | 559 |
2017 | 562 | 559 |
2018 | 562 | 559 |
Years after | 19,955 | 20,185 |
Total minimum payments required | $23,774 | $23,987 |
Commitment_and_contingencies_D1
Commitment and contingencies (Details 1) (USD $) | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | Line of credit [Member] | Three-party financing agreements [Member] | Confirming storage [Member] | Financing by the rights of goods delivery in future [Member] | Longmen Joint Venture [Member] | Longmen Joint Venture [Member] | Longmen Joint Venture [Member] | Longmen Joint Venture [Member] | Longmen Joint Venture [Member] | ||
Line of credit [Member] | Three-party financing agreements [Member] | Confirming storage [Member] | Financing by the rights of goods delivery in future [Member] | ||||||||
Commitment And Contingencies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Guarantor Obligations, Current Carrying Value | $326,802 | $304,571 | $226,618 | $13,096 | $41,252 | $45,836 | $304,571 | $178,931 | $42,315 | $19,951 | $63,374 |
Guaranty Obligations, Guaranty Due Date | ' | ' | 'Various from January 2014 to August 2015 | 'Various from January to July 2014 | 'Various from March to December 2014 | 'Various from April to October 2014 | ' | 'Various from October 2013 to August 2015 | 'Various from October 2013 to January 2014 | 'Various from December 2013 to September 2014 | 'Various from December 2013 to March 2015 |
Commitment_and_contingencies_D2
Commitment and contingencies (Details 2) (USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2013 |
Commitment And Contingencies [Line Items] | ' | ' |
Guarantor Obligations, Current Carrying Value | $304,571 | $326,802 |
Yichang Zhongyi Industrial Co., Ltd [Member] | ' | ' |
Commitment And Contingencies [Line Items] | ' | ' |
Guarantor Obligations, Current Carrying Value | 25,428 | 28,909 |
Guaranty Obligations, Guaranty Due Date | 'June 2014 | 'June 2014 |
Xi'an Laisheng Logistics Co., Ltd [Member] | ' | ' |
Commitment And Contingencies [Line Items] | ' | ' |
Guarantor Obligations, Current Carrying Value | 4,303 | 6,548 |
Guaranty Obligations, Guaranty Due Date | 'May 2014 | 'May 2014 |
Xi'an Kaiyuan Steel Sales Co., Ltd [Member] | ' | ' |
Commitment And Contingencies [Line Items] | ' | ' |
Guarantor Obligations, Current Carrying Value | 3,733 | 1,637 |
Guaranty Obligations, Guaranty Due Date | 'Various from November 2013 to January 2014 | 'January 2014 |
Shaanxi Anlin Material Co., Ltd. [Member] | ' | ' |
Commitment And Contingencies [Line Items] | ' | ' |
Guarantor Obligations, Current Carrying Value | 7,726 | ' |
Guaranty Obligations, Guaranty Due Date | 'Various from December 2013 to April 2014 | ' |
Shaanxi Huatai Huineng Group, Ltd. [Member] | ' | ' |
Commitment And Contingencies [Line Items] | ' | ' |
Guarantor Obligations, Current Carrying Value | 24,450 | 24,555 |
Guaranty Obligations, Guaranty Due Date | 'March 2014 | 'March 2014 |
Hancheng Sanli Furnace Burden Co., Ltd. [Member] | ' | ' |
Commitment And Contingencies [Line Items] | ' | ' |
Guarantor Obligations, Current Carrying Value | 16,300 | 16,370 |
Guaranty Obligations, Guaranty Due Date | 'March 2015 | 'March 2015 |
Jinmen Desheng Metallurty Co., Ltd [Member] | ' | ' |
Commitment And Contingencies [Line Items] | ' | ' |
Guarantor Obligations, Current Carrying Value | 3,260 | 19,644 |
Guaranty Obligations, Guaranty Due Date | 'August 2014 | 'August 2014 |
Shaanxi Hongan Material Co., Ltd. [Member] | ' | ' |
Commitment And Contingencies [Line Items] | ' | ' |
Guarantor Obligations, Current Carrying Value | 5,379 | ' |
Guaranty Obligations, Guaranty Due Date | 'Various from October to December 2013 | ' |
Chengdu Zhongyi Steel Co., Ltd. [Member] | ' | ' |
Commitment And Contingencies [Line Items] | ' | ' |
Guarantor Obligations, Current Carrying Value | 3,977 | ' |
Guaranty Obligations, Guaranty Due Date | 'December 2013 | ' |
Shaanxi Baolong Industry Co Ltd [Member] | ' | ' |
Commitment And Contingencies [Line Items] | ' | ' |
Guarantor Obligations, Current Carrying Value | 2,347 | ' |
Guaranty Obligations, Guaranty Due Date | 'November 2013 | ' |
Shaanxi Anlin Logistics Co., Ltd [Member] | ' | ' |
Commitment And Contingencies [Line Items] | ' | ' |
Guarantor Obligations, Current Carrying Value | ' | 6,548 |
Guaranty Obligations, Guaranty Due Date | ' | 'April 2014 |
Shaanxi Longan Industrial Development Co., Ltd [Member] | ' | ' |
Commitment And Contingencies [Line Items] | ' | ' |
Guarantor Obligations, Current Carrying Value | 3,978 | ' |
Guaranty Obligations, Guaranty Due Date | 'November 2013 | ' |
Long Steel Group [Member] | ' | ' |
Commitment And Contingencies [Line Items] | ' | ' |
Guarantor Obligations, Current Carrying Value | 74,819 | 68,099 |
Guaranty Obligations, Guaranty Due Date | 'Various from October 2013 to August 2015 | 'Various from February 2014 to August 2015 |
Hancheng Haiyan Coking Co Ltd [Member] | ' | ' |
Commitment And Contingencies [Line Items] | ' | ' |
Guarantor Obligations, Current Carrying Value | 42,315 | 46,818 |
Guaranty Obligations, Guaranty Due Date | 'Various from October 2013 to January 2014 | 'Various from January to December 2014 |
Tianjin Dazhan Industry Co Ltd [Member] | ' | ' |
Commitment And Contingencies [Line Items] | ' | ' |
Guarantor Obligations, Current Carrying Value | 44,238 | 45,018 |
Guaranty Obligations, Guaranty Due Date | 'Various from January 2014 to March 2015 | 'Various from January 2014 to March 2015 |
Tianjin Hengying Trading Co Ltd [Member] | ' | ' |
Commitment And Contingencies [Line Items] | ' | ' |
Guarantor Obligations, Current Carrying Value | 19,637 | 40,925 |
Guaranty Obligations, Guaranty Due Date | 'Various from January to July 2014 | 'Various from January to October 2014 |
Long Steel Group Fuping Rolling Steel Co Ltd [Member] | ' | ' |
Commitment And Contingencies [Line Items] | ' | ' |
Guarantor Obligations, Current Carrying Value | 11,271 | 16,820 |
Guaranty Obligations, Guaranty Due Date | 'Various from January to June 2014 | 'Various from January to June 2014 |
Tianjin Qiu Steel Pipe Industry Co Ltd [Member] | ' | ' |
Commitment And Contingencies [Line Items] | ' | ' |
Guarantor Obligations, Current Carrying Value | $11,410 | $4,911 |
Guaranty Obligations, Guaranty Due Date | 'April 2014 | 'April 2014 |
Commitment_and_contingencies_D3
Commitment and contingencies (Details Textual) (USD $) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Sep. 30, 2010 | Jun. 30, 2010 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2011 | Jun. 30, 2010 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Commitment And Contingencies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating Leases, Rent Expense | $0.80 | $0.80 | $0.80 | $0.80 | $0.90 | $0.70 | $0.30 | $0.30 | $0.30 | $0.07 | $0.07 | $1.60 | $1.60 | $0.60 | $0.10 | $2.40 | $2.40 | $0.90 | $0.20 | $3.20 | $3.30 | $0.30 | $0.40 |
Contractual Obligation | $211.60 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $211.60 | ' | ' | ' | $353 | ' | ' | ' |
Segments_Details
Segments (Details) (USD $) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Sep. 30, 2010 | Jun. 30, 2010 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2011 | Jun. 30, 2010 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |||||||||||||||||||||||
Sales: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||
Segment Reporting Information, Revenue for Reportable Segment | $613,853 | $658,516 | $697,006 | $840,771 | $784,754 | $650,625 | $1,086,039 | $1,148,684 | $720,829 | $476,249 | $512,418 | $1,355,522 | $1,435,379 | $1,869,513 | $965,441 | $1,969,375 | $2,276,150 | $2,955,552 | $1,441,689 | $2,518,285 | $3,012,483 | $3,782,076 | $1,937,324 | |||||||||||||||||||||||
Interdivisional Sales Revenue | -3,758 | -4,865 | -45,715 | -129,346 | -4,071 | -2,584 | -87,878 | -86,953 | -10,365 | -15,972 | -10,739 | -50,580 | -6,655 | -97,318 | -10,739 | -54,338 | -136,001 | -185,196 | -26,710 | -54,538 | -148,890 | -218,180 | -55,184 | |||||||||||||||||||||||
TOTAL SALES | 610,095 | 653,651 | 651,291 | 711,425 | 780,683 | 648,041 | 998,161 | 1,061,731 | 710,464 | 460,277 | 501,679 | 1,304,942 | 1,428,724 | 1,772,195 | 954,702 | 1,915,037 | 2,140,149 | 2,770,356 | 1,414,979 | 2,463,747 | 2,863,593 | 3,563,896 | 1,882,140 | |||||||||||||||||||||||
Gross profit: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||
Segment Reporting Gross Profit Loss | 8,231 | -35,536 | 4,067 | -13,596 | 28,044 | 5,630 | 34,033 | 23,099 | 3,474 | 13,726 | 7,358 | -31,469 | 33,674 | 26,573 | 13,104 | -23,238 | 20,078 | 60,603 | 26,830 | -55,938 | 32,119 | -90,054 | 33,176 | |||||||||||||||||||||||
Interdivision Gross Profit Loss | 0 | 0 | 0 | 0 | 0 | 0 | 17 | 241 | 1,575 | -137 | 6 | 0 | 0 | 1,816 | 6 | 0 | 0 | 1,836 | -131 | 0 | 0 | 1,840 | -1,761 | |||||||||||||||||||||||
GROSS PROFIT | 8,231 | -35,536 | 4,067 | -13,596 | 28,044 | 5,630 | 34,050 | 23,340 | 5,049 | 13,589 | 7,364 | -31,469 | 33,674 | 28,389 | 13,110 | -23,238 | 20,078 | 62,439 | 26,699 | -55,938 | 32,119 | -88,214 | 31,415 | |||||||||||||||||||||||
Income (loss) from operations: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||
Segment Reporting Income Loss From Operations | 28,912 | -45,645 | 32,971 | -40,644 | 4,409 | -18,093 | 5,262 | -5,730 | -9,818 | 5,399 | -4,514 | -12,673 | -13,684 | -15,548 | -9,449 | 16,239 | -54,328 | -10,288 | -4,050 | 38,972 | -90,416 | -191,090 | -13,584 | |||||||||||||||||||||||
Interdivision Income Loss From Operations | 0 | 0 | 0 | 0 | 0 | 0 | 17 | 241 | 1,575 | 0 | 0 | 0 | 0 | 1,816 | 0 | 0 | 0 | 1,836 | 0 | 0 | 0 | 1,840 | -1,762 | |||||||||||||||||||||||
Reconciling item (1) | -1,177 | [1] | -1,245 | [1] | -1,080 | [1] | -1,350 | [1] | -2,117 | [1] | -536 | [1] | -945 | [1] | -1,540 | [1] | -1,209 | [1] | -1,370 | [1] | -1,799 | [1] | -2,326 | [1] | -2,653 | [1] | -2,749 | [1] | -3,254 | [1] | -3,504 | [1] | -4,003 | [1] | -3,695 | [1] | -4,624 | [1] | -4,567 | -5,041 | -4,838 | -5,816 | ||||
INCOME (LOSS) FROM OPERATIONS | 27,734 | -46,890 | 31,891 | -41,994 | 2,292 | -18,629 | 4,334 | -7,029 | -9,452 | 4,029 | -6,313 | -14,999 | -16,337 | -16,481 | -12,703 | 12,735 | -58,331 | -12,147 | -8,674 | 34,405 | -95,457 | -194,088 | -21,162 | |||||||||||||||||||||||
Net income (loss) attributable to General Steel Holdings, Inc.: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||
Segment Reporting Income Loss Net | 4,917 | -38,642 | 4,109 | -40,190 | -24,283 | -34,236 | -9,593 | -24,406 | -12,835 | -2,979 | -11,080 | -34,533 | -58,519 | -37,241 | -19,251 | -29,616 | -98,709 | -46,837 | -22,230 | -29,593 | -147,563 | -177,115 | -39,192 | |||||||||||||||||||||||
Interdivision Income Loss Net | 0 | 0 | 0 | 0 | 0 | 0 | -3,434 | 398 | 1,575 | 0 | 0 | 0 | 0 | 1,973 | 0 | 0 | 0 | -1,461 | 0 | 0 | 0 | -1,501 | -1,762 | |||||||||||||||||||||||
Reconciling item (1) | -1,116 | [1] | -1,176 | [1] | -1,006 | [1] | -1,408 | [1] | -2,094 | [1] | -548 | [1] | -803 | [1] | 1,093 | [1] | 2,343 | [1] | -805 | [1] | 9,076 | [1] | -2,182 | [1] | -2,642 | [1] | 3,436 | [1] | 11,635 | [1] | -3,298 | [1] | -4,050 | [1] | 2,636 | [1] | 10,830 | [1] | -3,423 | [1] | -5,134 | [1] | 1,429 | [2] | 10,948 | [2] |
NET LOSS ATTRIBUTABLE TO GENERAL STEEL HOLDINGS, INC. | 3,801 | -39,818 | 3,103 | -41,598 | -26,377 | -34,784 | -13,830 | -22,915 | -8,917 | -3,784 | -2,004 | -36,715 | -61,161 | -31,832 | -7,616 | -32,914 | -102,759 | -45,662 | -11,400 | -33,016 | -152,697 | -177,187 | -30,006 | |||||||||||||||||||||||
Depreciation and amortization: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||
Depreciation, amortization and depletion | 21,888 | 21,709 | 21,358 | 21,208 | 20,770 | 20,559 | 18,363 | 13,100 | 8,922 | 11,841 | 9,748 | 43,067 | 41,329 | 22,022 | 19,334 | 64,955 | 62,538 | 40,385 | 31,175 | 89,048 | 83,931 | 58,331 | 41,153 | |||||||||||||||||||||||
Finance/interest expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||
Interdivision Interest Expense | 0 | 0 | ' | 0 | 0 | ' | -6 | -701 | ' | 0 | 0 | 0 | 0 | -701 | 0 | 0 | 0 | -707 | 0 | 0 | 0 | -709 | 0 | |||||||||||||||||||||||
Reconciling item (1) | 1 | [1] | 1 | [1] | 1 | [1] | -3 | [1] | 2 | [1] | 0 | [1] | -1 | [1] | 2 | [1] | 0 | [1] | -1,527 | [1] | 15 | [1] | 2 | [1] | 2 | [1] | 2 | [1] | 15 | [1] | 3 | [1] | -1 | [1] | 1 | [1] | -1,512 | [1] | 3 | [1],[2] | 298 | [1],[2] | 4,379 | [2] | 25 | [2] |
Finance/interest expenses | 22,842 | 21,216 | 24,857 | 31,004 | 48,328 | 42,736 | 29,674 | 19,781 | 14,119 | 10,190 | 16,464 | 46,073 | 91,064 | 33,900 | 27,427 | 68,915 | 122,068 | 63,574 | 37,617 | 91,878 | 153,743 | 100,902 | 51,283 | |||||||||||||||||||||||
Capital expenditures: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||
Consolidated capital expenditures | 0 | [1] | 0 | [1] | 0 | [1] | 0 | [1] | 0 | [1] | 0 | [1] | 0 | [1] | 0 | [1] | 3 | [1] | 0 | [1] | 0 | [1] | 0 | [1] | 0 | [1] | 3 | [1] | 0 | [1] | 0 | [1] | 0 | [1] | 3 | [1] | 0 | [1] | ' | ' | ' | ' | ||||
Equipment purchase and intangible assets | 16,455 | 27,925 | 24,093 | 3,298 | 7,920 | 10,729 | 23,397 | 20,185 | 11,102 | 27,666 | 22,423 | 52,350 | 20,550 | 31,097 | 39,508 | 75,326 | 15,909 | 54,494 | 69,604 | 43,355 | 27,976 | 110,939 | 97,022 | |||||||||||||||||||||||
ASSETS | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||
Interdivision Assets | -84,880 | -46,877 | -43,797 | -52,640 | -88,292 | -78,892 | -173,330 | -147,058 | ' | ' | ' | -46,877 | -88,292 | -147,058 | ' | -84,880 | -52,640 | -173,330 | ' | -34,213 | -57,436 | -88,326 | -173,076 | |||||||||||||||||||||||
Reconciling item | 5,654 | [3] | 7,266 | [3],[4] | 9,376 | [3] | 11,232 | [3] | 7,785 | [3] | 9,430 | [3] | 579 | [3] | 1,027 | [3] | ' | ' | ' | 7,266 | [3],[4] | 7,785 | [3] | 1,027 | [3] | ' | 5,654 | [3] | 11,232 | [3] | 579 | [3] | ' | 5,817 | [2],[4] | 7,074 | [2],[4] | 2,583 | [3] | 2,904 | [3] | |||||
TOTAL ASSETS | 2,672,026 | 2,454,614 | 2,440,598 | 2,608,564 | 2,761,118 | 3,266,825 | 2,885,853 | 2,531,022 | ' | ' | ' | 2,454,614 | 2,761,118 | 2,531,022 | ' | 2,672,026 | 2,608,564 | 2,885,853 | ' | 2,700,358 | 2,650,682 | 3,054,121 | 1,799,380 | |||||||||||||||||||||||
Longmen Joint Venture [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||
Sales: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||
Segment Reporting Information, Revenue for Reportable Segment | 606,444 | 650,741 | 646,748 | 708,974 | 774,306 | 643,276 | 986,938 | 1,056,675 | 709,305 | 455,028 | 499,361 | 1,297,489 | 1,417,582 | 1,765,980 | 934,187 | 1,903,933 | 2,126,556 | 2,752,918 | 1,389,215 | 2,450,256 | 2,837,608 | 3,496,551 | 1,846,080 | |||||||||||||||||||||||
Gross profit: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||
Segment Reporting Gross Profit Loss | 8,122 | -36,193 | 4,367 | -18,417 | 25,770 | 5,275 | 29,400 | 22,300 | 4,518 | 14,304 | 8,120 | -31,826 | 31,045 | 26,818 | 14,146 | -23,704 | 12,628 | 56,215 | 28,450 | -56,065 | 29,512 | -86,308 | 32,751 | |||||||||||||||||||||||
Income (loss) from operations: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||
Segment Reporting Income Loss From Operations | 30,306 | -44,685 | 34,937 | -42,611 | 2,903 | -17,224 | 1,773 | 138 | -7,508 | 6,734 | -1,046 | -9,748 | -14,321 | -7,370 | -4,828 | 20,558 | -56,932 | -5,599 | 1,905 | 45,161 | -68,081 | -175,104 | -8,073 | |||||||||||||||||||||||
Net income (loss) attributable to General Steel Holdings, Inc.: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||
Segment Reporting Income Loss Net | 8,284 | -34,944 | 8,325 | -39,494 | -23,132 | -30,348 | -14,766 | -19,707 | -10,178 | -1,351 | -7,472 | -26,619 | -53,480 | -29,885 | -14,562 | -18,335 | -92,974 | -44,654 | -15,913 | -16,457 | -114,936 | -161,897 | -32,668 | |||||||||||||||||||||||
Depreciation and amortization: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||
Depreciation, amortization and depletion | 21,014 | 20,850 | 20,431 | 19,915 | 19,412 | 19,246 | 16,979 | 11,501 | 7,503 | 10,086 | 8,021 | 41,281 | 38,658 | 19,004 | 15,851 | 62,295 | 58,573 | 35,983 | 25,937 | 85,603 | 79,048 | 54,755 | 34,131 | |||||||||||||||||||||||
Finance/interest expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||
Segment Reporting Finance Interest Expense | 20,591 | 18,243 | 22,150 | 28,378 | 44,879 | 39,565 | 25,925 | 18,391 | 13,730 | 10,957 | 15,932 | 40,393 | 84,444 | 32,121 | 26,549 | 60,984 | 112,822 | 58,046 | 37,506 | 83,062 | 142,086 | 90,325 | 49,180 | |||||||||||||||||||||||
Capital expenditures: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||
Consolidated capital expenditures | 16,455 | 27,922 | 16,084 | 3,259 | 7,903 | 10,723 | 19,889 | 20,110 | 10,662 | 19,605 | 22,274 | 44,006 | 16,345 | 30,772 | 28,979 | 60,461 | 19,604 | 50,661 | 48,583 | 43,341 | 27,837 | 108,885 | 80,718 | |||||||||||||||||||||||
ASSETS | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||
Segment Reporting Assets | 2,537,952 | 2,371,719 | 2,369,631 | 2,434,666 | 2,625,990 | 3,083,013 | 2,724,198 | 2,398,501 | ' | ' | ' | 2,371,719 | 2,625,990 | 2,398,501 | ' | 2,537,952 | 2,434,666 | 2,724,198 | ' | 2,573,212 | 2,513,206 | 2,937,271 | 1,694,895 | |||||||||||||||||||||||
Maoming Hengda Steel Company Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||
Sales: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||
Segment Reporting Information, Revenue for Reportable Segment | 252 | 1,349 | 1,523 | 1,134 | 889 | 1,980 | 3,938 | 1,917 | 544 | 1,960 | 2,006 | 2,872 | 2,869 | 2,461 | 5,880 | 3,124 | 4,003 | 6,399 | 7,839 | 3,814 | 6,502 | 9,946 | 10,011 | |||||||||||||||||||||||
Gross profit: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||
Segment Reporting Gross Profit Loss | -57 | 473 | -228 | -761 | -330 | -83 | 31 | -495 | -422 | -828 | -1,202 | 245 | -413 | -917 | -1,519 | 188 | -1,174 | -886 | -2,347 | -130 | -1,350 | -392 | -2,726 | |||||||||||||||||||||||
Income (loss) from operations: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||
Segment Reporting Income Loss From Operations | -719 | -225 | -797 | -1,062 | -734 | -702 | -477 | -1,168 | -892 | -1,075 | -3,275 | -1,022 | -1,436 | -2,060 | -3,872 | -1,741 | -2,498 | -2,537 | -4,947 | -2,811 | -19,789 | -2,568 | -5,782 | |||||||||||||||||||||||
Net income (loss) attributable to General Steel Holdings, Inc.: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||
Segment Reporting Income Loss Net | -694 | -216 | -771 | -1,073 | -784 | -536 | 2,573 | 2,292 | -1,095 | -1,076 | -3,300 | -987 | -1,320 | 1,197 | -3,899 | -1,681 | -2,393 | 3,770 | -4,975 | -2,721 | -18,968 | 3,763 | -5,450 | |||||||||||||||||||||||
Depreciation and amortization: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||
Depreciation, amortization and depletion | 307 | 315 | 311 | 451 | 492 | 504 | 531 | 758 | 590 | 928 | 899 | 626 | 996 | 1,348 | 1,828 | 933 | 1,447 | 1,879 | 2,756 | 1,237 | 1,984 | 205 | 3,411 | |||||||||||||||||||||||
Finance/interest expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||
Segment Reporting Finance Interest Expense | 1 | 0 | 0 | 35 | 0 | 12 | 217 | 1 | 0 | 85 | 24 | 0 | 12 | 1 | 24 | 1 | 47 | 218 | 109 | 1 | 13 | 262 | 109 | |||||||||||||||||||||||
Capital expenditures: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||
Consolidated capital expenditures | 0 | 0 | 2 | 23 | 15 | 0 | 3,505 | 69 | 216 | 8,045 | 130 | 2 | 15 | 285 | 235 | 2 | 38 | 3,790 | 8,281 | 2 | 73 | 1,978 | 8,735 | |||||||||||||||||||||||
ASSETS | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||
Segment Reporting Assets | 29,340 | 29,459 | 29,762 | 46,008 | 46,373 | 47,787 | 51,708 | 52,055 | ' | ' | ' | 29,459 | 46,373 | 52,055 | ' | 29,340 | 46,008 | 51,708 | ' | 29,211 | 29,687 | 48,350 | 47,839 | |||||||||||||||||||||||
Baotou Steel Pipe Joint Venture [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||
Sales: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||
Segment Reporting Information, Revenue for Reportable Segment | 2,921 | 972 | 9 | 1,322 | 2,424 | 177 | 3,436 | 2,815 | 614 | 3,267 | 5,142 | 981 | 2,601 | 3,429 | 6,320 | 3,902 | 3,923 | 6,865 | 9,587 | 5,585 | 6,760 | 8,036 | 12,315 | |||||||||||||||||||||||
Gross profit: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||
Segment Reporting Gross Profit Loss | 160 | 167 | -78 | 120 | 54 | 19 | 439 | 179 | -127 | 78 | 425 | 89 | 73 | 52 | 457 | 249 | 193 | 491 | 535 | 229 | 69 | 491 | 562 | |||||||||||||||||||||||
Income (loss) from operations: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||
Segment Reporting Income Loss From Operations | 20 | 55 | -361 | 630 | -240 | -166 | 200 | -64 | -421 | -188 | 43 | -305 | -406 | -485 | -274 | -285 | 224 | -285 | -462 | -407 | -7 | -2,516 | -862 | |||||||||||||||||||||||
Net income (loss) attributable to General Steel Holdings, Inc.: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||
Segment Reporting Income Loss Net | 16 | 46 | -289 | 403 | -292 | -374 | 163 | 0 | -240 | -128 | 25 | -243 | -666 | -240 | -176 | -227 | -263 | -77 | -304 | 70 | -531 | -1,861 | -744 | |||||||||||||||||||||||
Depreciation and amortization: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||
Depreciation, amortization and depletion | 62 | 26 | 97 | 52 | 71 | 11 | 60 | 64 | 60 | 74 | 74 | 123 | 82 | 124 | 146 | 185 | 134 | 184 | 220 | 246 | 185 | 246 | 281 | |||||||||||||||||||||||
Finance/interest expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||
Segment Reporting Finance Interest Expense | 0 | 0 | 0 | 127 | 126 | 128 | 0 | 0 | 0 | -7 | 20 | 0 | 254 | 0 | 20 | 0 | 381 | 0 | 13 | 0 | 485 | -10 | 14 | |||||||||||||||||||||||
Capital expenditures: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||
Consolidated capital expenditures | 0 | 1 | 7 | 1 | 0 | 5 | 3 | 6 | 23 | 12 | 19 | 8 | 5 | 29 | 24 | 8 | 6 | 32 | 36 | 8 | 11 | 32 | 44 | |||||||||||||||||||||||
ASSETS | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||
Segment Reporting Assets | 5,116 | 4,855 | 4,318 | 7,658 | 6,230 | 8,044 | 9,512 | 9,190 | ' | ' | ' | 4,855 | 6,230 | 9,190 | ' | 5,116 | 7,658 | 9,512 | ' | 4,448 | 5,186 | 8,093 | 31,852 | |||||||||||||||||||||||
General Steel (China) Tianwu Joint Venture [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||
Sales: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||
Segment Reporting Information, Revenue for Reportable Segment | 4,236 | 5,454 | 48,726 | 129,341 | 7,135 | 5,192 | 91,727 | 87,277 | 10,366 | 15,994 | 5,909 | 54,180 | 12,327 | 97,643 | 19,054 | 58,416 | 141,668 | 189,370 | 35,048 | 58,630 | 161,613 | 267,543 | 68,918 | |||||||||||||||||||||||
Gross profit: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||
Segment Reporting Gross Profit Loss | 6 | 17 | 6 | 5,462 | 2,550 | 419 | 4,163 | 1,115 | -494 | 172 | 15 | 23 | 2,969 | 620 | 20 | 29 | 8,431 | 4,783 | 192 | 28 | 3,888 | -3,845 | 2,589 | |||||||||||||||||||||||
Income (loss) from operations: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||
Segment Reporting Income Loss From Operations | -695 | -790 | -808 | 2,399 | 2,480 | -1 | 3,766 | -4,636 | -997 | -72 | -236 | -1,598 | 2,479 | -5,633 | -475 | -2,293 | 4,878 | -1,867 | -546 | -2,971 | -2,539 | -10,902 | 1,133 | |||||||||||||||||||||||
Net income (loss) attributable to General Steel Holdings, Inc.: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||
Segment Reporting Income Loss Net | -2,689 | -3,528 | -3,156 | -26 | -75 | -2,978 | 2,437 | -6,991 | -1,322 | -424 | -333 | -6,684 | -3,053 | -8,313 | -614 | -9,373 | -3,079 | -5,876 | -1,038 | -10,485 | -13,128 | -17,120 | -330 | |||||||||||||||||||||||
Depreciation and amortization: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||
Depreciation, amortization and depletion | 505 | 518 | 519 | 790 | 795 | 798 | 793 | 777 | 769 | 753 | 754 | 1,037 | 1,593 | 1,546 | 1,509 | 1,542 | 2,384 | 2,339 | 2,262 | 1,962 | 2,714 | 3,125 | 3,330 | |||||||||||||||||||||||
Finance/interest expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||
Segment Reporting Finance Interest Expense | 2,249 | 2,972 | 2,706 | 2,467 | 3,321 | 3,031 | 3,539 | 2,088 | 389 | 682 | 473 | 5,678 | 6,352 | 2,477 | 819 | 7,927 | 8,819 | 6,016 | 1,501 | 8,812 | 10,861 | 6,655 | 1,955 | |||||||||||||||||||||||
Capital expenditures: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||
Consolidated capital expenditures | 0 | 2 | 1 | 15 | 2 | 1 | 0 | 0 | 8 | 4 | 0 | 3 | 3 | 8 | 2 | 3 | 18 | 8 | 6 | 4 | 55 | 44 | 419 | |||||||||||||||||||||||
ASSETS | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||
Segment Reporting Assets | $178,844 | $88,192 | $71,308 | $161,640 | $163,032 | $197,443 | $273,186 | $217,307 | ' | ' | ' | $88,192 | $163,032 | $217,307 | ' | $178,844 | $161,640 | $273,186 | ' | $121,883 | $152,965 | $146,150 | $194,966 | |||||||||||||||||||||||
[1] | Reconciling item represents the unallocated income or expenses of the Company, arising from General Steel Investment Co., Ltd, Yangpu Shengtong Investment Co., Ltd and Qiu Steel for the three and nine months ended September 30, 2013 and 2012. | |||||||||||||||||||||||||||||||||||||||||||||
[2] | Reconciling item represents the unallocated income or expenses of the Company, arising from General Steel Investment Co., Ltd, Yangpu Shengtong Investment Co., Ltd and Qiu Steel for the years ended December 31, 2013, 2012, 2011 and 2010. | |||||||||||||||||||||||||||||||||||||||||||||
[3] | Reconciling item represents assets held at General Steel Holdings, Inc., General Steel Investment Co., Ltd, Yangpu Shengtong Investment Co., Ltd and Qiu Steel as of September 30, 2013, June 30, 2013, March 31, 2013, December 31, 2012, September 30, 2012, June 30, 2012, March 31, 2012, December 31, 2011, September 30, 2011, June 30, 2011 and December 31, 2010. | |||||||||||||||||||||||||||||||||||||||||||||
[4] | Reconciling item represents assets held at General Steel Holdings, Inc., General Steel Investment Co., Ltd, Yangpu Shengtong Investment Co., Ltd and Qiu Steel as of December 31, 2013 and 2012. |
Subsequent_events_Details_Text
Subsequent events (Details Textual) (Subsequent Event [Member], USD $) | 0 Months Ended |
Feb. 03, 2014 | |
Subsequent Event [Member] | ' |
Exercise Price Of Common Stock | $1.01 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 80,000 |
CONDENSED_PARENT_COMPANY_BALAN
CONDENSED PARENT COMPANY BALANCE SHEETS (Details) (USD $) | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Dec. 31, 2010 |
In Thousands, unless otherwise specified | ||||||||||||
CURRENT ASSETS: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash | $31,967 | $62,091 | $67,871 | $65,799 | $46,467 | $83,602 | $58,404 | $84,516 | $120,016 | $91,713 | $75,317 | $65,271 |
Restricted cash | 399,333 | 405,781 | 380,670 | 270,167 | 323,420 | 436,302 | 407,430 | 455,501 | 398,216 | 190,681 | 186,495 | 197,797 |
Other receivables | 54,716 | 56,494 | 53,525 | 11,455 | 8,407 | 20,129 | 12,908 | 11,410 | 22,411 | 20,132 | 13,343 | 11,150 |
Prepaid expense | 1,388 | 1,490 | 1,585 | 1,494 | 450 | 549 | 547 | 335 | 364 | 898 | 302 | 5,018 |
TOTAL CURRENT ASSETS | 1,380,724 | 1,373,967 | 1,197,670 | 1,184,738 | 1,407,045 | 1,376,573 | 1,501,822 | 1,996,912 | 1,747,851 | 1,625,761 | 1,290,497 | 1,139,303 |
OTHER ASSETS: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
TOTAL OTHER ASSETS | 47,727 | 47,517 | 42,386 | 83,542 | 75,801 | 34,519 | 42,803 | 41,141 | 49,034 | 46,293 | 48,029 | 57,465 |
TOTAL ASSETS | 2,700,358 | 2,672,026 | 2,454,614 | 2,440,598 | 2,650,682 | 2,608,564 | 2,761,118 | 3,266,825 | 3,054,121 | 2,885,853 | 2,531,022 | 1,799,380 |
CURRENT LIABILITIES: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other payables and accrued liabilities | 45,653 | 52,272 | 60,775 | 56,785 | 54,589 | 74,582 | 44,643 | 34,461 | 49,538 | 37,962 | 36,009 | 30,087 |
TOTAL CURRENT LIABILITIES | 2,562,140 | 2,448,138 | 2,220,727 | 2,094,305 | 2,271,590 | 2,212,120 | 2,257,649 | 2,732,101 | 2,465,155 | 2,072,985 | 1,677,694 | 1,525,645 |
OTHER LIABILITIES: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative liabilities - warrants | 0 | ' | ' | ' | 0 | 58 | 3 | 23 | 10 | 48 | 182 | 5,573 |
TOTAL LIABILITIES | 3,194,355 | 3,145,136 | 2,952,916 | 2,868,323 | 3,086,691 | 2,976,836 | 3,063,168 | 3,526,860 | 3,217,601 | 2,835,319 | 2,456,490 | 1,677,858 |
COMMITMENTS AND CONTINGENCIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
DEFICIENCY: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock, $0.001 par value, 50,000,000 shares authorized, 3,092,899 shares issued and outstanding as of December 31, 2013, 2012, 2011 and 2010 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 |
Common stock, $0.001 par value, 200,000,000 shares authorized, 58,234,688, 57,269,838, 56,601,988 and 54,678,083 shares issued, 55,762,382, 54,797,532, 55,511,010 and 54,522,973 shares outstanding as of December 31, 2013, 2012, 2011 and 2010, respectively | 58 | 58 | 58 | 57 | 57 | 57 | 57 | 56 | 56 | 55 | 55 | 55 |
Treasury stock, at cost, 2,472,306, 2,472,306, 1,090,978 and 316,760 shares as of December 31, 2013, 2012, 2011 and 2010, respectively | -4,199 | -4,199 | -4,199 | -4,199 | -4,199 | -4,199 | -4,199 | -2,795 | -2,795 | -2,795 | -2,795 | -871 |
Paid-in-capital | 106,878 | 106,405 | 106,194 | 105,959 | 105,714 | 105,475 | 105,190 | 105,059 | 107,940 | 107,698 | 107,405 | 104,970 |
Statutory reserves | 6,243 | 6,263 | 6,204 | 6,103 | 6,076 | 6,078 | 6,106 | 6,227 | 6,388 | 6,475 | 6,465 | 6,202 |
Accumulated deficits | -414,798 | -414,696 | -418,497 | -378,679 | -381,782 | -331,842 | -290,244 | -263,867 | -229,083 | -97,455 | -83,625 | -51,793 |
Accumulated other comprehensive income | 729 | 2,471 | 4,201 | 8,621 | 10,185 | 10,008 | 9,982 | 8,751 | 10,200 | 13,071 | 12,325 | 10,987 |
TOTAL GENERAL STEEL HOLDINGS, INC. DEFICIENCY | -305,086 | -303,695 | -306,036 | -262,135 | -263,946 | -214,420 | -173,105 | -146,566 | -107,291 | 27,052 | 39,833 | 69,553 |
TOTAL LIABILITIES AND DEFICIENCY | 2,700,358 | 2,672,026 | 2,454,614 | 2,440,598 | 2,650,682 | 2,608,564 | 2,761,118 | 3,266,825 | 3,054,121 | 2,885,853 | 2,531,022 | 1,799,380 |
Parent Company [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
CURRENT ASSETS: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash | 11 | ' | ' | ' | 88 | ' | ' | ' | 48 | ' | ' | 47 |
Restricted cash | 0 | ' | ' | ' | 0 | ' | ' | ' | 4 | ' | ' | 1,130 |
Other receivables | 39 | ' | ' | ' | 19 | ' | ' | ' | 1 | ' | ' | 3 |
Prepaid expense | 301 | ' | ' | ' | 45 | ' | ' | ' | 60 | ' | ' | 205 |
TOTAL CURRENT ASSETS | 351 | ' | ' | ' | 152 | ' | ' | ' | 113 | ' | ' | 1,385 |
OTHER ASSETS: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intercompany receivable | 82,987 | ' | ' | ' | 83,320 | ' | ' | ' | 85,106 | ' | ' | 84,941 |
TOTAL OTHER ASSETS | 82,987 | ' | ' | ' | 83,320 | ' | ' | ' | 85,106 | ' | ' | 84,941 |
TOTAL ASSETS | 83,338 | ' | ' | ' | 83,472 | ' | ' | ' | 85,219 | ' | ' | 86,326 |
CURRENT LIABILITIES: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other payables and accrued liabilities | 6 | ' | ' | ' | 7 | ' | ' | ' | 7 | ' | ' | 8 |
TOTAL CURRENT LIABILITIES | 6 | ' | ' | ' | 7 | ' | ' | ' | 7 | ' | ' | 8 |
OTHER LIABILITIES: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss in excess of investment in subsidiaries | 388,418 | ' | ' | ' | 347,411 | ' | ' | ' | 192,493 | ' | ' | 11,192 |
Derivative liabilities - warrants | ' | ' | ' | ' | ' | ' | ' | ' | 10 | ' | ' | 5,573 |
TOTAL OTHER LIABILITIES | 388,418 | ' | ' | ' | 347,411 | ' | ' | ' | 192,503 | ' | ' | 16,765 |
TOTAL LIABILITIES | 388,424 | ' | ' | ' | 347,418 | ' | ' | ' | 192,510 | ' | ' | 16,773 |
COMMITMENTS AND CONTINGENCIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
DEFICIENCY: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock, $0.001 par value, 50,000,000 shares authorized, 3,092,899 shares issued and outstanding as of December 31, 2013, 2012, 2011 and 2010 | 3 | ' | ' | ' | 3 | ' | ' | ' | 3 | ' | ' | 3 |
Common stock, $0.001 par value, 200,000,000 shares authorized, 58,234,688, 57,269,838, 56,601,988 and 54,678,083 shares issued, 55,762,382, 54,797,532, 55,511,010 and 54,522,973 shares outstanding as of December 31, 2013, 2012, 2011 and 2010, respectively | 58 | ' | ' | ' | 57 | ' | ' | ' | 56 | ' | ' | 55 |
Treasury stock, at cost, 2,472,306, 2,472,306, 1,090,978 and 316,760 shares as of December 31, 2013, 2012, 2011 and 2010, respectively | -4,199 | ' | ' | ' | -4,199 | ' | ' | ' | -2,795 | ' | ' | -871 |
Paid-in-capital | 106,878 | ' | ' | ' | 105,714 | ' | ' | ' | 107,940 | ' | ' | 104,970 |
Statutory reserves | 6,243 | ' | ' | ' | 6,076 | ' | ' | ' | 6,388 | ' | ' | 6,202 |
Accumulated deficits | -414,798 | ' | ' | ' | -381,782 | ' | ' | ' | -229,083 | ' | ' | -51,793 |
Accumulated other comprehensive income | 729 | ' | ' | ' | 10,185 | ' | ' | ' | 10,200 | ' | ' | 10,987 |
TOTAL GENERAL STEEL HOLDINGS, INC. DEFICIENCY | -305,086 | ' | ' | ' | -263,946 | ' | ' | ' | -107,291 | ' | ' | 69,553 |
TOTAL LIABILITIES AND DEFICIENCY | $83,338 | ' | ' | ' | $83,472 | ' | ' | ' | $85,219 | ' | ' | $86,326 |
CONDENSED_PARENT_COMPANY_BALAN1
CONDENSED PARENT COMPANY BALANCE SHEETS (Details Textual) (USD $) | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Dec. 31, 2010 |
Preferred Stock, Par Or Stated Value Per Share | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ' | ' | $0.00 |
Preferred Stock, Shares Authorized | 50,000,000 | 50,000,000 | 50,000,000 | 50,000,000 | 50,000,000 | 50,000,000 | 50,000,000 | 50,000,000 | 50,000,000 | 50,000,000 | ' | ' | 50,000,000 |
Preferred Stock, Shares Issued | 3,092,899 | 3,092,899 | 3,092,899 | 3,092,899 | 3,092,899 | 3,092,899 | 3,092,899 | 3,092,899 | 3,092,899 | 3,092,899 | ' | ' | 3,092,899 |
Preferred Stock, Shares Outstanding | 3,092,899 | 3,092,899 | 3,092,899 | 3,092,899 | 3,092,899 | 3,092,899 | 3,092,899 | 3,092,899 | 3,092,899 | 3,092,899 | ' | ' | 3,092,899 |
Common Stock, Par Or Stated Value Per Share | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ' | $0.00 |
Common Stock, Shares Authorized | 200,000,000 | 200,000,000 | 200,000,000 | 200,000,000 | 200,000,000 | 200,000,000 | 200,000,000 | 200,000,000 | 200,000,000 | 200,000,000 | 200,000,000 | ' | 200,000,000 |
Common Stock, Shares, Issued | 58,234,688 | 57,771,038 | 57,607,888 | 57,444,738 | 57,269,838 | 57,100,688 | 56,932,788 | 56,767,388 | 56,601,988 | 56,435,838 | 56,246,188 | ' | 54,678,083 |
Common Stock, Shares, Outstanding | 55,762,382 | 55,298,732 | 55,135,582 | 57,269,838 | 54,797,532 | 54,628,382 | 54,460,482 | 55,676,410 | 55,511,010 | 55,344,860 | 55,155,210 | ' | 54,522,973 |
Treasury Stock, Shares | 2,472,306 | 2,472,306 | 2,472,306 | 2,472,306 | 2,472,306 | 2,472,306 | 2,472,306 | 1,090,978 | 1,090,978 | 1,090,978 | 1,090,978 | 713,660 | 316,760 |
Parent Company [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred Stock, Par Or Stated Value Per Share | $0.00 | ' | ' | ' | $0.00 | ' | ' | ' | $0.00 | ' | ' | ' | $0.00 |
Preferred Stock, Shares Authorized | 50,000,000 | ' | ' | ' | 50,000,000 | ' | ' | ' | 50,000,000 | ' | ' | ' | 50,000,000 |
Preferred Stock, Shares Issued | 3,092,899 | ' | ' | ' | 3,092,899 | ' | ' | ' | 3,092,899 | ' | ' | ' | 3,092,899 |
Preferred Stock, Shares Outstanding | 3,092,899 | ' | ' | ' | 3,092,899 | ' | ' | ' | 3,092,899 | ' | ' | ' | 3,092,899 |
Common Stock, Par Or Stated Value Per Share | $0.00 | ' | ' | ' | $0.00 | ' | ' | ' | $0.00 | ' | ' | ' | $0.00 |
Common Stock, Shares Authorized | 200,000,000 | ' | ' | ' | 200,000,000 | ' | ' | ' | 200,000,000 | ' | ' | ' | 200,000,000 |
Common Stock, Shares, Issued | 58,234,688 | ' | ' | ' | 57,269,838 | ' | ' | ' | 56,601,988 | ' | ' | ' | 54,678,083 |
Common Stock, Shares, Outstanding | 55,762,382 | ' | ' | ' | 54,797,532 | ' | ' | ' | 55,511,010 | ' | ' | ' | 54,522,973 |
Treasury Stock, Shares | 2,472,306 | ' | ' | ' | 2,472,306 | ' | ' | ' | 1,090,978 | ' | ' | ' | 316,760 |
CONDENSED_PARENT_COMPANY_STATE
CONDENSED PARENT COMPANY STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Details 1) (USD $) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Sep. 30, 2010 | Jun. 30, 2010 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2011 | Jun. 30, 2010 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 30, 2010 | Dec. 31, 2010 |
OTHER INCOME | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Finance/interest (expense) income | ($22,842) | ($21,216) | ($24,857) | ($31,004) | ($48,328) | ($42,736) | ($29,674) | ($19,781) | ($14,119) | ($10,190) | ($16,464) | ($46,073) | ($91,064) | ($33,900) | ($27,427) | ($68,915) | ($122,068) | ($63,574) | ($37,617) | ($91,878) | ($153,743) | ($100,902) | ' | ($51,283) |
Change in fair value of derivative liabilities - warrants | 0 | 0 | -1 | -55 | 20 | -13 | 135 | 1,839 | 3,552 | -1,089 | 10,729 | 1 | 7 | 5,391 | 14,668 | 1 | -48 | 5,526 | 13,579 | 1 | 9 | 5,563 | -15,055 | 15,055 |
Total other income, net | -18,309 | -16,778 | -21,300 | -24,124 | -44,378 | -36,583 | -26,110 | -10,366 | -6,870 | -8,684 | -1,232 | -38,078 | -80,961 | -17,236 | -6,802 | -56,387 | -105,085 | -43,346 | -15,486 | -76,676 | -135,685 | -73,617 | ' | -33,891 |
NET LOSS | 9,400 | -63,773 | 10,520 | -66,218 | -42,129 | -55,748 | -22,330 | -35,593 | -13,571 | -4,311 | -4,742 | -53,253 | -97,877 | -49,164 | -14,765 | -43,853 | -164,095 | -71,494 | -19,076 | -42,625 | -231,938 | -283,299 | ' | -46,271 |
Foreign currency translation adjustments | -2,547 | -7,210 | -2,526 | -698 | 1,590 | -1,469 | 999 | -287 | 1,687 | 3,295 | 312 | -9,736 | 121 | 1,400 | 151 | -12,283 | -577 | 2,399 | 3,446 | -14,425 | -744 | -587 | ' | 4,623 |
COMPREHENSIVE LOSS | 6,853 | -70,983 | 7,994 | -66,916 | -40,539 | -57,217 | -21,331 | -35,880 | -11,884 | -1,016 | -4,430 | -62,989 | -97,756 | -47,764 | -14,614 | -56,136 | -164,672 | -69,095 | -15,630 | -57,050 | -232,682 | -283,886 | ' | -41,648 |
Parent Company [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
OPERATING EXPENSES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
General and administrative expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,324 | -1,260 | -2,149 | ' | -3,057 |
Total operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,324 | -1,260 | -2,149 | ' | -3,057 |
OTHER INCOME | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Finance/interest (expense) income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | -1 | ' | 1,714 |
Change in fair value of derivative liabilities - warrants | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | 9 | 5,563 | ' | 15,055 |
Total other income, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | 9 | 5,562 | ' | 16,769 |
EQUITY LOSS OF SUBSIDIARIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -31,693 | -151,446 | -180,600 | ' | -43,718 |
NET LOSS | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -33,016 | -152,697 | -177,187 | ' | -30,006 |
Foreign currency translation adjustments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -8,927 | -802 | -787 | ' | 2,869 |
COMPREHENSIVE LOSS | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ($41,943) | ($153,499) | ($177,974) | ' | ($27,137) |
CONDENSED_PARENT_COMPANY_STATE1
CONDENSED PARENT COMPANY STATEMENTS OF CASH FLOWS (Details 2) (USD $) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||||||
In Thousands, unless otherwise specified | Mar. 31, 2013 | Mar. 31, 2012 | Mar. 31, 2011 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2011 | Jun. 30, 2010 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Parent Company [Member] | Parent Company [Member] | Parent Company [Member] | Parent Company [Member] | ||||||||||||||||
CASH FLOWS FROM OPERATING ACTIVITIES: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net loss | $10,520 | ($55,748) | ($13,571) | ($53,253) | ($97,877) | ($49,164) | ($14,765) | ($43,853) | ($164,095) | ($71,494) | ($19,076) | ($42,625) | ($231,938) | ($283,299) | ($46,271) | ($33,016) | ($152,697) | ($177,187) | ($30,006) |
Adjustments to reconcile net loss to cash provided by (used in) operating activities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Change in fair value of derivative instruments - warrants | -1 | 13 | -3,552 | -1 | -7 | -5,391 | -14,668 | -1 | 48 | -5,526 | -13,579 | -1 | -9 | -5,563 | -15,055 | -1 | -9 | -5,563 | -15,055 |
Stock issued for services and compensation | 245 | 262 | 647 | 480 | 394 | 994 | 1,507 | 692 | 679 | 1,288 | 2,018 | 1,165 | 918 | 1,530 | 2,479 | 1,165 | 919 | 1,530 | 2,479 |
Make whole shares interest expense on notes conversion | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | 1,130 | 0 | 0 | 0 | 1,130 | 0 | 0 | 0 | 1,130 |
Amortization of deferred note issuance cost and discount on convertible notes | ' | ' | ' | 0 | 0 | 0 | 13 | 0 | 0 | 0 | 17 | 0 | 0 | 0 | 17 | 0 | 0 | 0 | 17 |
Loss from subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 31,693 | 151,446 | 180,600 | 43,718 |
Changes in operating assets and liabilities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other receivables | -2,826 | 3,371 | 3,686 | -857 | 2,403 | -1,947 | -1,570 | -3,466 | -5,460 | -8,626 | 1,323 | -1,116 | 7,221 | -12,638 | -3,210 | -20 | -18 | 1 | -3 |
Prepaid expense | -1,039 | 32 | 0 | -1,115 | -181 | 4,753 | 0 | -1,016 | -183 | 4,214 | 0 | -916 | -83 | 4,753 | 0 | -257 | 15 | 141 | 349 |
Other payables and accrued liabilities | 1,887 | -5,924 | 8,246 | 5,002 | 4,254 | 5,258 | 2,426 | -3,742 | 34,286 | 6,819 | -3,542 | -10,508 | 14,138 | 18,076 | -1,527 | 0 | -1 | -1 | -2,483 |
Cash projected to be used in operations | 3,850 | -167,024 | 54,118 | -61,436 | -99,581 | -8,469 | -45,403 | 14,043 | -90,114 | 87,167 | -103,129 | -163,924 | -5,236 | 33,382 | -162,813 | -436 | -345 | -479 | 146 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restricted cash | 54,991 | -54,126 | -4,516 | -49,988 | -5,671 | 15,017 | -76,526 | -72,676 | -35,094 | 13,173 | 9,281 | -64,860 | 78,826 | -190,178 | 741 | 0 | 4 | 1,126 | -1,130 |
Loan repayment from (payment to) subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,654 | 334 | 1,785 | -165 | -524 |
Net cash provided by investing activities | 30,902 | -133,112 | -15,290 | -102,242 | -98,416 | -15,412 | -117,594 | -146,606 | -123,163 | -42,670 | -56,678 | -105,792 | -63,764 | -302,669 | -88,337 | 334 | 1,789 | 961 | -1,654 |
CASH FLOWS FINANCING ACTIVITIES: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments made for treasury stock acquired | ' | ' | -1,128 | 0 | -1,404 | -1,924 | 0 | 0 | -1,404 | -1,925 | 0 | 0 | -1,404 | -1,923 | -870 | 0 | -1,404 | -1,923 | -870 |
Borrowings from subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25 | 0 | 1,442 | 2,404 |
Net cash provided by (used in) financing activities | -15,674 | 264,207 | -14,628 | 183,883 | 134,159 | 33,024 | 131,837 | 146,770 | 175,437 | -17,109 | 118,123 | 253,979 | -6,861 | 323,231 | 232,429 | 25 | -1,404 | -481 | 1,534 |
(DECREASE) INCREASE IN CASH | 19,332 | -35,500 | 24,039 | 21,404 | -61,612 | 10,046 | -31,346 | 15,624 | -36,414 | 26,442 | -40,340 | -14,500 | -73,549 | 54,745 | -16,847 | -77 | 40 | 1 | 26 |
CASH, beginning of year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 88 | 48 | 47 | 21 |
CASH, end of year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11 | 88 | 48 | 47 |
Non-cash transactions of investing and financing activities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deconsolidation of a subsidiary as a reduction to paid-in-capital | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 3,143 | 0 | 0 |
Share issuance for intercompany's debt settlement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0 | $0 | $1,442 | $2,404 |
Schedule_Of_Condensed_Financia1
Schedule Of Condensed Financial Information of Parent Company - Restricted net assets (Details Textual) | 12 Months Ended |
Dec. 31, 2013 | |
Percentage Of Consolidated Net Asset | 25.00% |
Schedule_Of_Condensed_Financia2
Schedule Of Condensed Financial Information of Parent Company - Derivative instrument (Details Textual) (USD $) | 12 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2012 | Dec. 31, 2007 | Dec. 31, 2009 |
Two Thousand And Nine Issues [Member] | |||
Debt Instrument, Face Amount | ' | $40 | ' |
Warrants And Rights Outstanding And Exercisable Number | ' | 3,900,871 | 2,777,778 |
Debt Instrument, Maturity Date | 24-Jun-12 | 13-May-13 | ' |
Schedule_Of_Condensed_Financia3
Schedule Of Condensed Financial Information of Parent Company - Equity (Details) (USD $) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||||||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Sep. 30, 2010 | Jun. 30, 2010 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2011 | Jun. 30, 2010 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Balance | ($192,266) | ($165,590) | ($172,063) | ($128,945) | ($113,469) | ($56,189) | $34,699 | ' | $51,969 | ' | ' | ($172,063) | ($56,189) | $51,969 | ' | ($172,063) | ($56,189) | $51,969 | ' | ($172,063) | ($56,189) | $51,969 | ' |
Net income (loss) attributable to noncontrolling interest | 5,599 | -23,955 | 7,417 | -24,620 | -15,752 | -20,964 | -8,500 | -12,678 | -4,654 | -527 | -2,738 | -16,538 | -36,716 | -17,332 | -7,149 | -10,939 | -61,336 | -25,832 | -7,676 | -9,609 | -79,241 | -106,112 | -16,265 |
Usage of special reserve | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -845 | -1,259 | ' | ' |
Addition to Tianwu paid-in capital | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 18,028 | ' | ' | ' |
Deconsolidation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -20,458 | -39,398 | ' | ' |
Balance | -169,415 | -192,266 | -165,590 | -153,852 | -128,945 | -113,469 | 23,482 | 34,699 | ' | ' | ' | -192,266 | -128,945 | 34,699 | ' | -169,415 | -153,852 | 23,482 | ' | -188,911 | -172,063 | -56,189 | 51,969 |
Tongxing [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance | ' | ' | ' | ' | ' | 32,934 | ' | ' | ' | ' | ' | ' | 32,934 | ' | ' | ' | 32,934 | ' | ' | ' | 32,934 | ' | ' |
Net income (loss) attributable to noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 341 | ' | ' |
Addition to special reserve | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Usage of special reserve | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Deconsolidation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -33,654 | ' | ' |
Foreign currency translation adjustments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 379 | ' | ' |
Balance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Non Controlling Interest Others Excluding Tongxing [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance | ' | ' | ' | ' | ' | -89,123 | ' | ' | ' | ' | ' | ' | -89,123 | ' | ' | ' | -89,123 | ' | ' | ' | -89,123 | ' | ' |
Net income (loss) attributable to noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -79,582 | ' | ' |
Addition to special reserve | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 605 | ' | ' |
Usage of special reserve | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -566 | ' | ' |
Deconsolidation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -2,289 | ' | ' |
Foreign currency translation adjustments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,108 | ' | ' |
Balance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -172,063 | ' | ' |
Tianwu [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance | ' | ' | 1,339 | ' | ' | ' | ' | ' | ' | ' | ' | 1,339 | ' | ' | ' | 1,339 | ' | ' | ' | 1,339 | ' | ' | ' |
Net income (loss) attributable to noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' |
Addition to special reserve | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' |
Usage of special reserve | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' |
Addition to Tianwu paid-in capital | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 18,028 | ' | ' | ' |
Deconsolidation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -19,929 | ' | ' | ' |
Foreign currency translation adjustments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 560 | ' | ' | ' |
Balance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' |
Non Controlling Interest Others Excluding Tianwu [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance | ' | ' | -173,402 | ' | ' | ' | ' | ' | ' | ' | ' | -173,402 | ' | ' | ' | -173,402 | ' | ' | ' | -173,402 | ' | ' | ' |
Net income (loss) attributable to noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -9,611 | ' | ' | ' |
Addition to special reserve | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 553 | ' | ' | ' |
Usage of special reserve | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -393 | ' | ' | ' |
Addition to Tianwu paid-in capital | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' |
Deconsolidation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' |
Foreign currency translation adjustments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -6,058 | ' | ' | ' |
Balance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -188,911 | ' | ' | ' |
Noncontrolling Interest [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance | ' | ' | -172,063 | ' | ' | -56,189 | ' | ' | ' | ' | ' | -172,063 | -56,189 | ' | ' | -172,063 | -56,189 | ' | ' | -172,063 | -56,189 | ' | ' |
Net income (loss) attributable to noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -61,336 | ' | ' | -9,609 | -79,241 | -106,112 | ' |
Addition to special reserve | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 351 | ' | ' | 553 | 605 | ' | ' |
Usage of special reserve | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -350 | ' | ' | -393 | -566 | ' | ' |
Addition to Tianwu paid-in capital | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 18,028 | ' | ' | ' |
Deconsolidation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -35,943 | ' | ' | -19,929 | -35,943 | ' | ' |
Foreign currency translation adjustments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -385 | ' | ' | -5,498 | -729 | ' | ' |
Balance | ' | ' | ' | -153,852 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -153,852 | ' | ' | -188,911 | -172,063 | -56,189 | ' |
Noncontrolling Interest [Member] | Tongxing [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance | ' | ' | ' | ' | ' | 32,934 | ' | ' | ' | ' | ' | ' | 32,934 | ' | ' | ' | 32,934 | ' | ' | ' | 32,934 | ' | ' |
Net income (loss) attributable to noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 341 | ' | ' | ' | 341 | ' | ' |
Addition to special reserve | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | 0 | ' | ' |
Usage of special reserve | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | 0 | ' | ' |
Deconsolidation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -33,654 | ' | ' | ' | -33,654 | ' | ' |
Foreign currency translation adjustments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 379 | ' | ' | ' | 379 | ' | ' |
Balance | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | 0 | ' | ' |
Noncontrolling Interest [Member] | Non Controlling Interest Others Excluding Tongxing [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance | ' | ' | ' | ' | ' | -89,123 | ' | ' | ' | ' | ' | ' | -89,123 | ' | ' | ' | -89,123 | ' | ' | ' | -89,123 | ' | ' |
Net income (loss) attributable to noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -61,677 | ' | ' | ' | -79,582 | ' | ' |
Addition to special reserve | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 351 | ' | ' | ' | 605 | ' | ' |
Usage of special reserve | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -350 | ' | ' | ' | -566 | ' | ' |
Deconsolidation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -2,289 | ' | ' | ' | -2,289 | ' | ' |
Foreign currency translation adjustments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -764 | ' | ' | ' | -1,108 | ' | ' |
Balance | ' | ' | ' | -153,852 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -153,852 | ' | ' | ' | -172,063 | ' | ' |
Noncontrolling Interest [Member] | Tianwu [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance | ' | ' | 1,339 | ' | ' | ' | ' | ' | ' | ' | ' | 1,339 | ' | ' | ' | 1,339 | ' | ' | ' | 1,339 | ' | ' | ' |
Net income (loss) attributable to noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' |
Addition to special reserve | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' |
Usage of special reserve | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' |
Addition to Tianwu paid-in capital | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 18,028 | ' | ' | ' |
Deconsolidation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -19,929 | ' | ' | ' |
Foreign currency translation adjustments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 560 | ' | ' | ' |
Balance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' |
Noncontrolling Interest [Member] | Non Controlling Interest Others Excluding Tianwu [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance | ' | ' | -173,402 | ' | ' | ' | ' | ' | ' | ' | ' | -173,402 | ' | ' | ' | -173,402 | ' | ' | ' | -173,402 | ' | ' | ' |
Net income (loss) attributable to noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -9,611 | ' | ' | ' |
Addition to special reserve | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 553 | ' | ' | ' |
Usage of special reserve | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -393 | ' | ' | ' |
Addition to Tianwu paid-in capital | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' |
Deconsolidation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' |
Foreign currency translation adjustments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -6,058 | ' | ' | ' |
Balance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ($188,911) | ' | ' | ' |
Schedule_Of_Condensed_Financia4
Schedule Of Condensed Financial Information of Parent Company - Equity (Details Textual) | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 0 Months Ended | 0 Months Ended | 0 Months Ended | 1 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||
Aug. 16, 2013 | Aug. 16, 2013 | Mar. 01, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2013 | Nov. 19, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Mar. 27, 2012 | Oct. 11, 2013 | Mar. 27, 2012 | Dec. 31, 2012 | Sep. 30, 2012 | Mar. 27, 2012 | Dec. 31, 2011 | Sep. 26, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Dec. 31, 2010 | Nov. 19, 2013 | Nov. 19, 2013 | Nov. 19, 2013 | Mar. 01, 2012 | Aug. 16, 2013 | Aug. 16, 2013 | Nov. 19, 2013 | Aug. 16, 2013 | Aug. 16, 2013 | Dec. 31, 2013 | Nov. 19, 2013 | Sep. 30, 2013 | Dec. 30, 2013 | Sep. 28, 2013 | Jun. 27, 2013 | Mar. 28, 2013 | Dec. 28, 2012 | Sep. 27, 2012 | Jun. 28, 2012 | Mar. 26, 2012 | Aug. 16, 2013 | Aug. 16, 2013 | Aug. 16, 2013 | Aug. 16, 2013 | Aug. 16, 2013 | Aug. 16, 2013 | Aug. 16, 2013 | Aug. 16, 2013 | Aug. 16, 2013 | Aug. 16, 2013 | 18-May-07 | 31-May-07 | Dec. 31, 2007 | 18-May-07 | |
USD ($) | CNY | USD ($) | USD ($) | USD ($) | USD ($) | CNY | Consultant [Member] | Repurchase One [Member] | Repurchase Two [Member] | Repurchase Two [Member] | Repurchase Two [Member] | Senior Management and Director [Member] | Senior Management and Director [Member] | Senior Management and Director [Member] | Senior Management and Director [Member] | Senior Management and Director [Member] | Tianjin Dazhan Industry Co Ltd [Member] | Tianjin Dazhan Industry Co Ltd [Member] | Tianjin Dazhan Industry Co Ltd [Member] | Hancheng Tongxing Metallurgy Co Ltd [Member] | Tianwu Joint Venture [Member] | Tianwu Joint Venture [Member] | Tianwu Joint Venture [Member] | Tianjin Material and Equipment Group Corporation [Member] | Tianjin Material and Equipment Group Corporation [Member] | Yangpu Shengtong Investment Co Ltd [Member] | Yangpu Shengtong Investment Co Ltd [Member] | Yangpu Shengtong Investment Co Ltd [Member] | Equity Incentive Plan 2008 [Member] | Equity Incentive Plan 2008 [Member] | Equity Incentive Plan 2008 [Member] | Equity Incentive Plan 2008 [Member] | Equity Incentive Plan 2008 [Member] | Equity Incentive Plan 2008 [Member] | Equity Incentive Plan 2008 [Member] | Equity Incentive Plan 2008 [Member] | Issue Three [Member] | Issue Three [Member] | Issue Three [Member] | Issue Three [Member] | Issue Three [Member] | Issue Three [Member] | Issue Three [Member] | Issue Three [Member] | Issue Three [Member] | Issue Three [Member] | Victory New Holdings Limited [Member] | Victory New Holdings Limited [Member] | Victory New Holdings Limited [Member] | Victory New Holdings Limited [Member] | ||||||
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | CNY | USD ($) | USD ($) | CNY | USD ($) | CNY | Senior Management and Director [Member] | Senior Management and Director [Member] | Senior Management and Director [Member] | Senior Management and Director [Member] | Senior Management and Director [Member] | Senior Management and Director [Member] | Senior Management and Director [Member] | Senior Management and Director [Member] | USD ($) | CNY | USD ($) | CNY | Tianwu Joint Venture [Member] | Tianwu Joint Venture [Member] | Tianwu Joint Venture [Member] | Tianwu Joint Venture [Member] | Tianjin Material and Equipment Group Corporation [Member] | Tianjin Material and Equipment Group Corporation [Member] | Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | |||||||||||||||||||||
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | CNY | USD ($) | CNY | USD ($) | CNY | USD ($) | ||||||||||||||||||||||||||||||||||||||||||
Equity Method Investment, Ownership Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | 60.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 60.00% | 60.00% | ' | ' | ' | 99.10% | ' | 99.10% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30.00% | ' | ' | ' |
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,092,899 | ' | ' |
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $8,374,000 |
Preferred Stock, Voting Rights | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'Series A Preferred Stock carry a voting power of 30% of the combined voting power of the Companys common and preferred stock while outstanding. | ' |
Stock Repurchase Program, Number of Shares Authorized to be Repurchased | ' | ' | ' | ' | ' | 2,000,000 | ' | ' | ' | ' | 4,000,000 | 4,000,000 | ' | 2,000,000 | 1,381,328 | 1,400,000 | 1,381,328 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sale Of Equity Interest Percentage | ' | ' | 22.76% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 22.76% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Variable Interest Entity, Consolidated, Carrying Amount, Assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 40,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Noncontrolling Interest in Variable Interest Entity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 32,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sale Of Equity Non Cash Consideration | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sale Of Equity, Cash Consideration | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sale Of Equity Non Cash Consideration Dividend | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Noncontrolling Interest, Decrease from Deconsolidation | ' | ' | ' | 20,458,000 | 39,398,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 19,400,000 | 121,200,000 | 3,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 163,650 | 163,150 | 163,150 | 174,900 | 169,150 | 167,900 | 165,400 | 165,400 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise Price Of Common Stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.91 | $0.88 | $1.02 | $1.01 | $1 | $1.29 | $0.80 | $0.75 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Allocated Share-based Compensation Expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200,000 | 200,000 | 300,000 | 600,000 | 2,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200,000 | 200,000 | 100,000 | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Repurchase Program Shares Repurchased Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Treasury Stock, Number of Shares Held | ' | ' | ' | ' | ' | 774,218 | 316,760 | ' | ' | ' | ' | ' | ' | ' | 2,472,306 | 2,472,306 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Value, Other | 27,000,000 | 168,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 45,100,000 | 280,000,000 | ' | 18,000,000 | 112,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 27,000,000 | 168,000,000 | 27,000,000 | 168,000,000 | 45,100,000 | 280,000,000 | 45,100,000 | 280,000,000 | 18,000,000 | 112,000,000 | ' | ' | ' | ' |
Stock Issued During Period, Shares, Issued for Services | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares Issued, Price Per Share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.85 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage Of Equity Interest Sold | ' | ' | ' | ' | ' | ' | ' | ' | 60.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 28.00% | 28.00% | 28.00% | ' | ' | ' | 32.00% | ' | ' | ' | 28.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds From Sale Of Equity Interest | ' | ' | ' | 8,000,000 | ' | ' | ' | 49,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13,600,000 | 13,600,000 | 84,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage Of Equity Interest Retained | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 32.00% | 32.00% | 32.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deconsolidation, Gain (Loss), Amount | ' | ' | ' | $1,011,000 | $0 | $0 | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,000,000 | $1,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Schedule_Of_Condensed_Financia5
Schedule Of Condensed Financial Information of Parent Company - Subsequent events (Details Textual) (Subsequent Event [Member], USD $) | 0 Months Ended |
Feb. 03, 2014 | |
Subsequent Event [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 80,000 |
Exercise Price Of Common Stock | $1.01 |