Guizhou Province-based Chinese steelmaker Shuicheng Iron and Steel (Group) Co., a subsidiary of major Chinese steel producer Shougang Group, has announced that in the first half of the current year its rolling mill produced 2,271,071 mt of finished steel, exceeding the production target for the period by 16,571 mt.
In the given period, the capacity utilization rate of the rolling mill was 71.26 percent, as compared with 69.43 percent in the same period last year. The rolling mill achieved a total cost reduction of RMB 85.41 million ($13.5 million) in the first six months, as compared with the cost reduction target of RMB 100 million ($15.7 million) for the whole of 2012.