Shougang, one of the major steel producers in China planned to remain its crude steel output unchanged at 33 million tons in 2014 due to uncertainties on steel prices.

Last year, Shougang’s crude steel output was at 33 million tons even though the company owns an annual crude steel capacity of 35 million tons.

Meanwhile, since the steelmaker doesn’t plan to raise its contractual supply of feedstock in 2014 as it plans to remain its crude steel output unchanged.

It’s learned that over 65% of Shougang’s iron ore requirements are secured from contracts, spot purchases and local ports.