Shanxi Province-based Chinese steelmaker Taiyuan Iron and Steel (TISCO), the main stainless steel producer in China, has announced that it plans to produce 15.05 million mt of crude steel in 2021, including 6.4 million mt of stainless steel, while in the given year it is targeting an operating revenue of RMB 108 billion ($16.6 billion) and a gross profit of RMB 4.5 billion ($0.7 billion).
In 2020, the company produced 10.68 million mt of crude steel, while its crude stainless steel output was 4.19 million mt.
Furthermore, TISCO plans to achieve an annual crude steel output of 20.0 million mt by the end of 2023, including 15.0 million mt of stainless steel, as well an annual operating revenue of RMB 150 billion ($23 billion) and a gross profit of RMB 6.6 billion ($1.0 billion).
By the end of 2025, its crude steel output is expected to reach 25 million mt, including 18 million mt of stainless steel, with its self-sufficiency in nickel and chromium resources to reach at least 30 percent and 50 percent, respectively.