Kobe Steel to sell new type of furnace in China

Kobe Steel to sell new type of furnace in China

Japanese steel producer Kobe Steel is reportedly planning to sell a new type of rotary furnace into Chinese market. This new type of furnace produces steel more cheaply as it does not use coke. Moreover steel is produced more cleanly. Kobe Steel officials stated that as the furnace does not use coke in steel making, costs of steel producers will decrease significantly. The company aims to make sales worth $245 million into the Chinese market. The furnace, which utilizes a steel producing method of combining iron ore and coal in the rotary furnace, has an annual crude steel production capacity of 500'000 tons.