Baowu Group produced 61.5 million tons of steel in the first half of the year

A large Chinese steel company Baowu Group announced that its steel production in the first half of this year amounted to 61.5 million tons, informs SteelOrbis.

Operating revenue now is $73.6 billion, while gross and net profit are $4.8 billion and $4.1 billion, respectively.

In 2021, Baowu Group produced 120 million tons of steel, ranking first in the world. For the first time, the company has taken a leading position in global steel production with an indicator of 115 million tons in 2020.

As GMK Center reported earlier, Chinese steel companies in January-June 2022 reduced steel production by 6.5% compared to the same period in 2021, to 526.9 thousand tons. The output of pig iron over this period decreased by 4.7%, to 438.9 million tons. Production of finished rolled steel reached 667, 1 million tons, deacreasing by 4.6% compared to January-June 2021.

In June, the Purchasing Managers’ Index (PMI) in the steel industry in China fell by 4.6 percentage points compared with the previous month – to 36.2 points. It is the lowest value since this index has been calculated since November 2018.

Earlier, China announced plans to reduce steel production in 2022 after a decrease in output by almost 30 million tons in 2021. The control of steel production is part of China’s efforts to meet the goal of reducing the country’s carbon emissions.

China is the largest steel producer in the world. In 2021 Chinese steelmakers reduced steel production by 3% compared to 2020, to 1.03 billion tons.

  • Global Market

India and the UAE are discussing a partnership in the production of green steel

India and the United Arab Emirates are exploring opportunities to deepen industrial cooperation in the…

Sunday July 6, 2025
  • Companies

Overhaul of key boiler unit No. 9 has begun at Kametstal’s thermal power plant

In the boiler room of the Kametstal steel plant's thermal power plant, major repairs have…

Sunday July 6, 2025
  • Industry

Ukraine increased exports of long rolled products by 43% y/y in January-May

In January-May 2025, Ukrainian steel companies increased their exports of long rolled steel by 43.3%…

Saturday July 5, 2025
  • Companies

Interpipe calls for the creation of patronage services even before demobilization

The industrial company Interpipe shared its experience of reintegrating veterans at the HR Wisdom Summit…

Saturday July 5, 2025
  • Industry

The USPP calls on the government to initiate a postponement of CBAM for Ukrainian exports

The Ukrainian Union of Industrialists and Entrepreneurs (USPP) has appealed to the Cabinet of Ministers…

Friday July 4, 2025
  • Industry

Steel market participants warn of risks in the new EU state aid program

Steel market participants and industry observers warn that the new EU state aid framework program…

Friday July 4, 2025