Liaoning Province-based Chinese steel producer Benxi-Beiying Iron and Steel has announced that in 2010 it produced 6.53 million mt of pig iron, 6.12 million mt of semi-finished steel and 5.95 million mt of finished steel, while its total annual sales revenue for the year reached RMB 21.8 billion ($3.31 billion).
Benxi-Beiying Iron and Steel stated that in 2010 it faced rising raw materials prices, a depressed steel market and an unfavorable production situation. However, it said company personnel worked to overcame all obstacles and achieved significant improvements. Especially after June 8 last year, when Benxi Iron and Steel merged with Beiying Iron and Steel, the new group achieved success in regard to steel output volume and new steel products. Benxi-Beiying Iron and Steel also lowered its production costs and carried out reconstruction work on its 2,850 m3 blast furnace in order to save energy and reduce emissions.