Last year Laiwu Steel, a subsidiary of Shandong Iron and Steel Group, produced 4.93 million tons of pig iron, 5.93 million tons of steel, 6.91 million tons of merchant billet and steel products, had an operating revenue of 28.28 billion yuan, down 29 percent, and an attributable net profit of 138 million yuan, down 52 percent. The mill plans to produce 4.9 million tons of pig iron, 6.31 million tons of steel and 7.46 million tons of billet and steel products this year.