It is reported that In face of the financial crisis, Benxi Iron and Steel Co Ltd has timely adjusted the develop measures to cope with economic turmoil, targeting at 10 million tonnes per year production goal.

1. To further explore the market to gain more market shares. As learned, the new-added HR sheet/plate contract users were posted at 27 with 90% increasing booking volume from the year before. In March the sales volume of automobile sheets arrived at 50,000 tonnes refreshing the monthly sales record, which enlarged the market shares to ensure the 100% ordering ratio.

2. To focus on Two-high products in a bid to increase the added values. The company has eyed a YoY growth of 35% on the sales of pipeline steel products. Besides it has expanded cooperation with some famous automobile manufactures like SAIC Group, Beijing Automobile Works, Brilliance Auto and Changan etc. On the sector of household steel sheet it has explored anther 5 direct supply users based on the stable cooperation with Haier, Hisense and Midea etc. The order volume of crossbeam steel was reported to go at 5,000 tonnes in April.

The second is to fully play its own advantages to ensure the main body to start production as scheduled.

In short, the operation has realized step-by-step growth, totally finishing 3.75 million tonnes of pig iron during January to May up by 13.34%YoY. The outputs of HR and CR steel products record at 3.392 million tonnes and 1.188 million tonnes up by 20.66% and 13.52% respectively, with the products ordering ratio hitting at 100%.

(Sourced from MySteel.net)
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