Xinjiang Uygur Autonomous Region-based Chinese steel producer Bayi Iron and Steel Co., Ltd (Bayi Steel) - a listed subsidiary of China Baowu Group - has announced that it produced 5.91 million mt of pig iron, 6.25 million mt of crude steel and 5.97 million mt of finished steel respectively in 2020, while achieving an operating revenue of RMB 21.7 billion ($3.3 billion), up 5.39 percent year on year, and a net profit of RMB 316 million ($48.3 million), up 184.58 percent year on year.
As 2021, the company stated that it plans to produce 6.5 million mt of pig iron, 7.2 million mt of crude steel and 6.8 million mt of finished steel, with a 15 percent increase in crude steel output year on year, while it aims to achieve an operating revenue of RMB 25.3 billion ($3.9 billion) for the year.