On February 21, Shandong Province-based Chinese steelmaker Jinan Iron and Steel Co. (Jigang) announced that in 2012 its plate plant produced over 1.123 million mt of finished steel, including 1.087 million mt of steel plates. Consumption of crude steel per metric ton of steel plate produced at the plant decreased to 1,069 kg in 2012.
Additionally, in 2012 Jigang’s plate sales amounted to 1.064 million mt with an average sales price of RMB 4,647.4/mt ($744.8/mt). Meanwhile, the sales revenues of the plate plant in 2012 totaled RMB 4.946 billion ($792.6 million).