Jiuquan Steel produces 8.86 million mt of finished steel in 2010

Gansu Province-based Chinese steel producer Jiuquan Steel Group has announced that in 2010 (the last year of China's 11th five-year plan period (2006-10)) it produced 6.55 million mt, 8.57 million mt and 8.86 million mt of pig iron, crude steel and finished steel products respectively, up 26 percent, 52 percent and 65 percent compared to the respective figures for 2005 (the last year of China's 10th five-year plan period (2001-05)).
 
In addition, in 2010, Jiuquan Steel's total industrial output value was RMB 45.6 billion ($7 billion), its operating income came to RMB 56.4 billion ($8.6 billion), while its net profit amounted to RMB 1.2 billion ($182 million).
 
Wei Zhibing, general manager of Jiuquan Steel, stated that in 2011 the company is targeting annual outputs of 8 million mt of pig iron, 10 million mt of crude steel and 10 million mt of finished steel (including 1.1 million mt of stainless steel), while also targeting an industrial output value of RMB 53.3 billion ($8 billion) and a net profit of RMB 1.55 billion ($235 million). By 2015, Jiuquan Steel expects to increase its annual crude steel production to 13 million mt, while increasing its stainless steel output to 3 million mt.