Hebei Province-based Chinese steelmaker Hebei Iron and Steel Group has announced that its subsidiary Hebei-based Shijiazhuang Iron and Steel has determined the adjustment of its product output structure in the next five years.
Accordingly, Shijiazhuang Iron and Steel will aim to improve the quality of its spring steel, while it will also focus on steel used in high-speed railways.
It is also expected that the share of alloy steel in total output will be increased up to 80 percent from current levels, up eight percent. Meanwhile, the share of high value-added products will be increased to over 40 percent from the current 18 percent, within the scope of aims to improve competitiveness and profitability.