Masteel targets sales revenues of RMB 60-70 billion in 2010

On March 7, Gu Jianguo, chairman of Maanshan Iron and Steel (Masteel) and deputy to China's National People's Congress, told the congress that Masteel aims to pay more attention to adjustment of product structure to meet the needs of the Chinese steel industry and also to improve its profits. Meanwhile, the company will make great efforts to develop potentialities and lower costs. Mr. Gu said Masteel's sales revenue are expected to reach RMB 60-70 billion ($8.79-10.25 billion) in 2010, while for the year in question it is targeting pig iron output of 14.665 million metric tons, crude steel output of 15.80 million metric tons and finished steel output of 14.918-16.00 million metric tons.