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PrintHebei Iron & Steel Group, parent of Tang Steel and Hansteel, has decided to increase its production target of 2009, showing its confidence in next years' steel market.
The 2009 production plan of the Group includes 38 million tons of iron, 41 million tons of steel, 39.1 million tons of rolled steel, 290,000 tons of vanadium dross and 6.25 million tons of iron ore concentrate.
In 2008, the Group produced 30.1 million tons iron, 33 million tons of steel, 30 million tons of rolled steel, 147,000 tons of vanadium dross and 5.1 million tons of iron ore concentrate, and realized a total sales income of 165 billion yuan, up 32.2 percent on year, and generated net profits of 5 billion yuan.
Hebei Iron & Steel Group, founded in June this year on the basis of 10 steel plants in north China's Hebei province, now possesses an annual steel production capacity of 31 million tons, the most in China.
Some large-sized steel plants in China recently start resuming production on the temporary re-warming of the current steel market.
Chinese steel market went up by a small margin last week. Price index of rolled steel increased 2.0 percent on week to 124.1 points, and price indices of cold-rolled plates, steel medium plates and galvanized plates all increased over two percent on week.
Editor: Ivy
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