According to the report released by Chinese steelmaker Laiwu Steel for the first half of the current year, the company produced 2.3067 million mt of pig iron, 2.7771 million mt of crude steel, and 3.1896 million mt of semi-finished and finished steel during the period in question. Meanwhile, Laiwu Steel registered a total turnover of RMB 12.267 billion ($1.8 billion) and a net loss of RMB 548 million ($80 million) during the first six months of 2009.
The steel producer stated that, under the combined effects of the financial crisis, macroeconomic uncertainties, sluggish demand in both the domestic and international markets and the overcapacity of the Chinese steel industry, it faces a great challenge in strengthening its business performance. Nevertheless, during the end of the period in question, it began to see a certain recovery in its business operations.