Shougang shares during the Olympic Games will be 50% year-on-year reduction

Shougang shares today to disclose the company's limited production during the Olympic Games in the specific circumstances, the company expects the third quarter of this year's iron, steel, rolled steel production plan for 540,000 tons, 560,000 tons and 550,000 tons, lower than the same period last year About 50 percent.

During the Olympic Games, Beijing Shougang shares in accordance with the "200,000 metric tons per month," the limited production requirements of production, the company owned by the two blast furnace to maintain a normal production.



At the same time the company will step up production facilities maintenance, repair and do a good job on safety production, for the Olympic Games after the resumption of normal production levels make full preparations to limit production to minimize the impact.

The company said that this year, Shougang Corporation, the controlling shareholder of the company to provide services supporting the production of associated transaction price has remained at the level at the end of last year, including, the transactions under the energy, transport, according to the annual accounts on the calibre, this part of The cost of operating costs the company about 6 percent. After consultation, Shougang Corporation agreed to limit production during the Olympic Games, this part of the transactions in the prices continue to maintain the same level at the end of last year.

In addition, Shougang shares also revealed that investment in the construction of cold-rolled sheet production line project is the relocation of Shougang countries to support the adjustment of one of two key projects, has now entered the stage of pilot production. State of the project to provide discount loans, loan discount for a total of 192 million yuan, the first tranche of 90 million yuan has been receiving the end of 2007. January 2008, the company's Shougang Corporation has been allocated for the second discount of 102 million yuan.