Laiwu Steel to decrease billet and pig iron production in 2011

Shandong province-based Chinese steelmaker Laiwu Steel has produced 5.21 million mt of pig iron, 6.56 million mt of crude steel and 7.73 million mt of billet in 2010.
 
In the light of factors such as low demand and sufficient supply of steel in the domestic market, low international demand, and rising coal, electricity, oil and transportation prices, the company plans to produce 4.8 million mt of pig iron, 6.65 million mt of crude steel and 7.63 million mt of billet in 2011 to achieve an operating revenue of RMB 40.6 billion.
 
Shandong Iron and Steel Group is planning to restructure Laiwu Steel in the period ahead.