Shandong Province-based Chinese steelmaker Jinan Iron and Steel has announced that in the first quarter this year it produced 1.95 million mt of crude steel, 2.06 million mt of pig iron and 2.03 million mt of finished steel, while generating 850 million kWh of electricity power, all exceeding the targets for the quarter.
On the export side, Jinan Steel delivered 63,000 mt of finished steel to the export markets in the first quarter, with a total sales value of $47.5 million. In March, Jinan Steel's cost per metric ton of crude steel produced was reduced by RMB 93/mt ($14.76/mt).