Shandong Province-based Chinese steelmaker Laiwu Iron and Steel Group Co., Ltd. (Laigang Group) has announced that in November 2012 it produced 797,000 mt of crude steel, down 2.8 percent month on month.
In the given month, Laigang’s finished steel sales totaled 765,000 mt. As the end of November, its finished steel inventory was 186,000 mt, up 3.3 percent or 6,000 mt compared to the end of October.
Also in November last year, Laigang posted a net loss of RMB 110 million ($17.5 million), increasing by RMB 35 million ($5.6 million) month on month. Meanwhile, its aggregate net loss for the first 11 months of 2012 amounted to RMB 1.94 billion ($309 million).