Angang targets lower output increase for 2007

SteelOrbis Shanghai Liaoning Province-based steel producer Angang's major production targets (Benxi Steel excluded) for 2007 have been revealed as 16 million mt for pig iron, 16 million mt for crude steel, and 14.85 million mt for finished steel – i.e., up 850,000 mt or 5.6 percent, 750,000 mt or 4.7 percent, and 410,000 mt or 2.8 percent respectively year on year. This targeted growth represents a big reduction compared with that recorded in 2006. In consideration of Angang's January 2007 output, it will not be so difficult to accomplish the above targets. In January, Angang's output of pig iron rose 14.7 percent to 1.39 million mt, its crude steel output increased 12.8 percent to 1.371 million mt, while finished steel production was up 16.6 percent to 1.254 million mt compared to a year ago.