According to the Gansu Province-based Chinese steel producer Jiuquan Iron and Steel Co., Ltd (Jiuquan Steel), its crude steel output is expected to reach 2.846 million mt for the whole of 2010. In addition, Jiuquan Steel's respective outputs of slab, hot rolled coil and cold rolled coil are expected to amount to 576,000 mt, 2.246 million mt and 500,000 mt for the current year. The net profit for the whole of 2010 will be 115 percent of the previously planned volume for the year.
In the January-October period of the current year, Jiuquan Steel produced 2,366,400 mt of crude steel, 1,867,000 mt of hot rolled coil and 385,100 mt of cold rolled coil. These production figures for the first 10 months of 2010 constituted record volumes for the corresponding period in the past.
Jiuquan Steel also stated that in 2010 it has successfully developed production of new grades of steel, including X65, X70, 590L and 610L.