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17. February 2011

CN - Jiuquan Steel produced 8 million tonnes of finished steel in 2010

It is reported that Gansu Province based Chinese steel producer Jiuquan Steel Group in 2010 produced 6.55 million tonnes of pig iron up by 26%, 8.57 million tonnes of crude steel up by 52% and 8.86 million tonnes of finished steel products up by 65% compared to the respective figures for 2005 (the last year of China's 10th five year plan period (2001-05).

As per report, in 2010 Jiuquan Steel total industrial output value was CNY 45.6 billion and its operating income came to CNY 56.4 billion while its net profit amounted to CNY 1.2 billion.

Mr Wei Zhibing, general manager of Jiuquan Steel stated that in 2011 the company is targeting annual outputs of 8 million tonnes of pig iron, 10 million tonnes of crude steel and 10 million tonnes of finished steel while also targeting an industrial output value of CNY 53.3 billion and a net profit of CNY 1.55 billion. By 2015, Jiuquan Steel expects to increase its annual crude steel production to 13 million tonnes while increasing its stainless steel output to 3 million tonnes.

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