Inner Mongolia Autonomous Region-based Chinese steelmaker Baotou Iron and Steel (Baogang Group) has announced that in 2011 it produced 1.38 million mt of new finished steel products, earning a profit before tax of RMB 270 million ($49.93 million).
Meanwhile, Baogang Group's new finished steel product output rose by 169 percent to 4.941 million mt during China's 11th five-year plan period (2006-10), as compared to the previous five-year period.