Shandong Province-based Chinese steelmaker Jinan Iron and Steel Co., Ltd (Jinan Steel) has lately held a shareholders' meeting at which Jinan Steel chairman Cai Zhangping stated that in 2011 the company aims to optimize its product mix and increase its competitiveness. In 2011 Jinan Steel plans to produce 8.2 million mt of pig iron, 8.7 million mt of crude steel and 8.27 million mt of finished steel, while it is targeting a sales revenue of RMB 37.3 billion ($5.7 billion), with a net profit of RMB 1.12 billion ($0.17 billion).
According to the Jinan Steel chairman, in 2011 the company will increase the share of thin sheets in its output, while also focusing on further developing its production of auto steel, high quality line pipes, weathering steel, etc. The company will likewise increase the share of pickled products in its output. It will also adjust its product mix depending on orders.