Henan Province-based Chinese steelmaker Anyang Iron and Steel Group (Anyang Steel Group) has announced that it plans to produce 7.35 million mt, 7.7 million mt and 8.12 million mt of pig iron, crude steel and finished steel respectively in 2020. This will be slightly lower than the output expected for 2019. The mill had planned respective pig iron, crude steel and finished steel outputs of 7.48 million mt, 8.0 million mt and 7.88 million mt in 2019. As a result, crude steel production in 2020 is expected to be 3.75 percent lower year on year.
Meanwhile, Anyang Steel Group is aiming to achieve sales revenue of RMB 28.1 billion ($4.1 billion) in 2020, compared to the revenue of RMB 29.9 billion foreseen for 2019.
Moreover, the company will start many new projects in 2020, with planned investments totaling RMB 3.755 billion ($0.55 billion).