It is reported that Shandong Province based Chinese steel producer Qingdao Steel Group in 2010 produced 4.4 million tonnes of sintered ore, 3.09 million tonnes of pig iron, 3 million tonnes of crude steel and 3.28 million tonnes of finished steel products.

Specifically, Qingdao Steel's welded wire output in 2010 accounted for half of China total production of this product during the year. Meanwhile, its production of high quality tire cord steel and tire bead wire in 2010 constituted 40% of the total output volume in China while the spring flat bar output of Qingdao Steel made up over 30% of the national output.

In 2010, Qingdao Steel's sales volumes of tire cord steel, tire bead wire, spring flat bar and welded wire were respectively 131,500 tonnes up by 79.01% YoY, 397,800 tonnes up by 23.69% YoY, 410,100 tonnes up by 62.10% YoY and 676,500 tonnes up by 1.15%YoY. Meanwhile, Qingdao Steel also issued its financial results for 2010, posting sales revenues of CNY 34.5 billion and a net profit of CNY 460 million. The net profit exceeded the targeted figure by 10%.

(Sourced from SteelOrbis)
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