Shougang plans to raise crude steel output

Shougang group has announced plans to lift up its crude steel output by 3.1% to 32.487 million tonnes in 2014. The company’s crude steel output in 2013 totalled 31.52 million tonnes, almost the same from 31.42 million tonnes in 2012. The company is targeting to increase its output of pig iron and finished steel by 1.8% and 3.3% to 33.16 million tonnes and 31.39 million tonnes respectively this year. Its 2013 profit is expected to be CNY 345 million (US$56 million).