Wuhan Steel announces 2006 targets

Wuhan Steel announces 2006 targets

SteelOrbis Shanghai On the staff members meeting held at the end of December 2005, Wuhan Steel announced its 2006 production and management targets. The steelmaker aims to produce 10.3 million metric tons of iron, 10.86 million metric tons of steel with a total revenue of RMB 44.7 billion ($5.5 billion) in 2006. In cost management, the company aims to reduce costs and expenditures by about RMB 2.8 billion ($347 million), to lower the energy consumption by 10 percent, bringin the coke loading into furnace ratio to 355 kg for each metric tons of production and reducing overall energy consumption to 751 kg/mt. Wuhan Steel's No.2 Cold Rolling Mill and second stage project of No.2 Silicon Steel will go into production in 2006.