Financial Daily from THE HINDU group of publications
Tuesday, May 31, 2005
Financial Daily from THE HINDU group of publications Tuesday, May 31, 2005 |
|
|
|
|
|
Corporate
-
Outlook Ispat to sell sponge iron, directly reduced iron from June Our Bureau
Kolkata , May 30 BEGINNING June, steel maker Ispat Industries Ltd will market sponge iron and directly reduced iron (DRI). Hitherto, DRI produced by the company was meant for captive consumption. According to company sources, Ispat has identified ready markets in automobile foundry units and forging units in the western and southern regions for its DRI and sponge iron. Ispat has a finished steel making capacity of 2.4 million tonnes a year for which its metallics is fed through a mix of DRI/sponge iron and hot metal/pig iron from its 2 mtblast furnace. Ispat's DRI capacity is 1.6 mt a year. The company has firmed up plans to augment its steel making capacity to 3 mt in the next few months. Ispat also has the option of going for a feed mix combination of sponge iron, hot metal and scrap for feeding its twin shell electric arc furnace. The combined raw material feed mix can be used in various combinations to produce liquid steel at Ispat's manufacturing facility at Dolvi near Mumbai. According to the sources, with international scrap prices falling significantly in the last two months, Ispat has decided to use more scrap in its Dolvi plant. With the decision to use a prudent mix of hot metal/pig iron, scrap and sponge iron/DRI in place of a hot metal and DRI combination, the company is confident that its production costs would go down substantially.
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2005, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|