Baogang plans to produce 15.33 million mt of crude steel in 2021

Inner Mongolia-based Chinese steelmaker Baotou Iron and Steel Group (Baogang) has announced that it plans to produce 14.64 million mt of pig iron, 15.33 million mt of crude steel and 14.36 million mt of finished steel in the current year, lower than the annual targets for 2020 at 15.13 million mt of pig iron, 15.6 million mt of crude steel and 14.59 million mt of finished steel. In particular, in 2021 it plans to achieve an operating revenue of RMB 53.8 billion ($8.3 billion) from steel products and aims to achieve a gross profit of RMB 2.4 billion ($0.37 billion), while its targets for 2020 were an operating revenue of RMB 61.29 billion and a gross profit of RMB 1.341 billion.