Shandong Province-based Chinese steelmaker Qingdao Iron and Steel Group announced that in the first half of the current year, it produced pig iron of 1.4047 million mt, down 13.83 percent, crude steel of 1.3634 million mt, down 12.67 percent, and finished steel of 1.6763 million mt, down 10.24 percent, all on year-on-year basis, as reported by Chinese media sources.
Qingdao Steel carried out overhaul work at a number of its blast furnaces during the period in question amid the ongoing sluggishness of the steel industry, Starting from June 5, it commenced an 80-day overhaul of its blast furnace No. 6. Qingdao Steel managed to achieve a profit in the first six months, though many domestic steel producers posted losses for the period.