Xinjiang Province-based Chinese steelmaker Bayi Steel, part of Baosteel Group, has achieved double-digit growth rates in 2009 in its outputs of pig iron, crude steel and finished steel compared with 2008 levels, registering record production volumes.
In 2009, up to December 20 inclusive, Bayi Steel produced 5.2531 million mt of pig iron, 5.4043 million mt of crude steel and 5.0528 million mt of finished steel, up by 41.88 percent, 11.65 percent and 10.71 percent respectively year on year.
Despite the impact of the global financial crisis, Bayi Steel built its second 2,500 m3 blast furnace, a medium plate production line, a high speed wire rod line and some other key projects over the past year, thereby enhancing its production capacity considerably. At present, Bayi Steel is capable of reaching an annual output of 7 million mt.