Shandong Laiwu Steel records strong Q3 performance

SteelOrbis Shanghai Laiwu Steel Co. Ltd. recently published its 2006 3rd-Quarter Report. According to its third quarter data, Laiwu Steel registered RMB 6.174 billion ($787 million) in business revenues, RMB 703 million ($89 million) in gross profits, and RMB 296 million ($38 million) in net profits, i.e., up 28.41 percent, 116.98 percent and 176.64 percent respectively year on year. Laiwu Steel's pig iron output for the third quarter totaled 1.4509 million mt, while steel output for the period reached 1.7612 million mt.