Wang Yifang, chairman of giant Chinese steel producer Hebei Steel Group, has announced that in 2009 the steelmaker produced 38.96 million mt of pig iron, 40.27 million mt of crude steel and 35.64 million mt of finished steel in 2009, up by 23.25 percent, 16.46 percent and 18.28 percent respectively year on year, with the crude steel output constituting the highest output level among steelmakers in China.
As regards 2010, Hebei Steel Group is targeting a crude steel output of more than 40 million mt with a net profit in excess of RMB 3 billion ($439.37 million), and is also aiming at an overall upgrading of its production capacities.