Sichuan Province-based Chinese state-owned steel producer Panzhihua Iron and Steel (Pangang Group) has stated that in the current year up to June 26 its vanadium steel plant produced a total of 2,652,800 mt of crude steel, 13,800 mt above its targeted output for the first half of this year.
Meanwhile, as of June 27 this year, Pangang Mining Co.'s Lanjian iron ore mine produced 1.31 million mt of iron ore, exceeding the output target for the first six months this year by 50,000 mt. The average iron content of the iron ore produced by the mine was 27.64 percent, while production costs for the iron ore were estimated at RMB 80.5/mt ($13/mt), RMB 5.82/mt ($0.9/mt) lower than the expected cost.