Liaoning-based Chinese steelmaker
Benxi Steel has announced that installation work has begun on the new blast furnace for its Beiying Rolling Mill and is expected to be completed by August 20.
Currently, the annual
pig iron output capacity of
Benxi Steel is 18 million mt. When the new 2,850 m3 blast furnace is commissioned, the
pig iron production capacity of the steelmaker will exceed 20 million mt.
In the first quarter of the current year, Beiying Rolling Mill produced 1.487 million mt pf
pig iron, 1.384 million mt of steel billet, 1.38 million mt of finished steel and 50,000 mt of cast iron pipes, all exceeding the targeted volumes for the period.
In 2012,
Benxi Steel is targeting an operating revenue of RMB 101.6 billion ($16.13 billion) and a net profit of RMB 1 billion ($159 million). Meanwhile, for the given year
Benxi Steel expects to produce 7.56 million mt of iron ore concentrate, 17.32 million mt of
pig iron, 17.08 million mt of
crude steel, 11.24 million mt of hot rolled sheet, 3.83 million mt of cold rolled sheet, 750,000 mt of special steel, 3.3 million mt of
wire rod and 200,000 mt of cast iron pipes.