Shandong Province-based Chinese steel producer Qingdao Steel has announced that in the first half of the current year it produced 1.69 million mt of pig iron, 1.62 million mt of crude steel, 1.87 million mt of rolled steel and 606,100 mt of metallurgical coke. At the same time, its sales revenue in the given period reached RMB 23.7 billion ($3.7 billion), up 30.15 percent year on year.
Qingdao Steel has been exporting its high-end steel products to Southeast Asia, Japan, South Korea, India and America at prices higher than domestic prices.
Qingdao Steel has an annual crude steel production capacity of 4.2 million mt, with an annual output capacity of 2.7 million mt of wire rod. Its sales of welded rod in coil hold a share of over 50 percent of the Chinese market for this product.