Baoshan aims for steel output of 13.5 million tons

Baoshan aims for steel output of 13.5 million tons

In 2005, Baoshan Iron & Steel plans to produce 13.5 million tons of steel output while having a commercial billet volume of 13.23 million tons. Forecasts peg the company’s 2005 major business revenue at 71.5 billion Yuan ($8.64 billion) and major business costs at 53 billion Yuan ($6.40 billion). Baoshan’s 2004 revenue rose 31.89% year-on-year to 58.638 billion Yuan ($7.08 billion). The company posted a 36.83% gain in profit to reach 13.586 billion Yuan ($1.64 billion), with net profit coming in at 9.395 billion ($1.135 billion), up 34.68% year-on-year.