Chongqing Iron & Steel produced 324,300 tons of steel in September, 49 per cent more than in the same month in 2009. In the first nine months of this year, the steelmaker’s output increased 28 per cent year-on-year to 2.7m tons.

Last month, Chongqing Iron & Steel secured a three-year loan of Rmb500m and US$61.5m from a syndicate led by HSBC Holdings to complete the first phase of its environmental relocation plan, Xinhua reported.