SteelOrbis Shanghai
Shandong Province-based Laiwu Steel Co. Ltd has announced its 2007 annual report. In 2007, Laiwu Steel registered a total turnover of RMB 32.926 billion ($4.67 billion) and a total profit of RMB 1.577 billion ($224 million), up respectively 22.01 percent and 34.94 percent year on year. Meanwhile, the steelmaker's earnings per share came to RMB 1.236 ($0.0495), with its return on equity from financial leverage at 18.28 percent.
In its 2007 annual report, Laiwu Steel states that its production trended upward in a steady manner throughout the whole year. During the year in question, the steelmaker produced 5.35 million mt of pig iron, 5.76 million mt of crude steel and 6.91 million mt of semis. Laiwu Steel's main targets for 2008 are to produce 5.64 million mt of pig iron, 6.25 million mt of crude steel and 7.38 million mt of semis.
In 2007, Laiwu Steel Group, including Laiwu Steel Co. Ltd, produced 10.79111 million mt of pig iron, up 6.95 percent, 11.6994 million mt of crude steel, with an increase of 8.43 percent, and 11.2515 million mt of finished steel which thus registered an 11.27 percent increase.