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The No. 1 and No. 2 converters of Shandong Province-based Chinese steelmaker Laiwu Iron and Steel Corporation (Laiwu Steel) are expected to achieve an annual production capacity of 2.7 million mt of crude steel, accounting for one fourth of the company's total output capacity. The convertors in question have high level of automation. With the touch of a button, the convertors can complete one steelmaking process in just 36 minutes