Ispat Industries to market sponge iron, DRI
Indian steel producer Ispat Industries will market
sponge iron and direct reduced iron (DRI), beginning from June, sources report.
The idea of marketing such raw materials stemmed from the global fall in
scrap prices.
Ispat will market its
sponge iron in southern markets since there are many automakers and auto-parts suppliers. Ispat currently produces 1.1 million tons of DRI annually.
The company currently uses a mixture of raw materials –60% hot metal, 30-35% DRI and around 5% metal
scrap– in its steel
production.
In order to take advantage of falling
scrap prices, Ispat will lower its DRI
consumption and increase its
scrap consumption.