TISCO Plans to Increase Stainless Steel Output to 3MT in 2011

Taiyuan Iron & Steel (TISCO), Chinese major stainless steel maker, announced its management plan for 2011 and revealed the annual stainless steel output target at 3 million tonnes, up by 9.1% from 2010. The consolidated carbon and stainless steel output is planned at 10.26 million tonnes, increasing by 5.8% year-to-year. The net sales target is 120 billion yuan. TISCO focuses on 3 management targets: technology development, productive capacity expansion and environmental measures. Then the firm plans to increase the net sales to 200 billion yuan in 2015 with world highest competitive power as a stainless steel maker.

TISCO will increase the output of high value added products including stainless steel, magnetic steel and high tensile steel sheet. The firm advances strategic investment and establishes global supply chain to increase order acceptance such from food industry by development of new stainless sheet with better workability.

TISCO’s stainless steel output was 2.75 million tonnes in 2010. The consolidated carbon and stainless steel production was 9.7 million tonnes. The firm increased market shares of seamless stainless steel tube, heat-resistant steel and magnetic sheet. The firm’s output of magnetic sheet increased by 30% in 2010 compared with the initial plan and maintained no.1 share in domestic market since 2007. The firm also advanced investment for raw materials, including capex for a nickel mine project in Myanmar.