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New Capacity Roundup – August 2023
The addition of the furnace will facilitate greater use of scrap steel in the melting process, contributing to the company's goal of achieving a 10 percent reduction in the plant's overall emissions, by 2025.1 billion for the project, making it the largest single investment in the company’s history.The company expects that the site will have the lowest CO2 emissions of any steel producer in North America.The project involves the replacement of two blast furnaces and two basic oxygen furnaces, with a 2.The company states that the modifications will lead to a 10 percent reduction in gas consumption and a 5 percent increase in productivity.

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🌎 International · 🗓️ September 05, 2023 · Steel

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US stainless market resilient as EU mill profits slump
The facility is already the largest integrated stainless steel producer in the United States.6 percent, to €411 per tonne, in the second quarter of 2023.Acerinox and Outokumpu have a large presence in the US and European markets.These figures are considerably lower than the peak reached in the second quarter of 2022.The results are important because they contribute to the underlying reasons that two of those producers intend to grow their presence in the US market.

🔗MEPS International

🌎 International · 🗓️ September 05, 2023 · Steel

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India issues mandatory quality control order for cast iron products
Once the QCO comes into effect, manufacture, storing, trading, sale of the products in question will be prohibited unless certified by the Bureau of Indian Standards (BIS) that each of the products complies with the standards specified by the latter.The official notification said that the QCO will come into effect after six months.

🇮🇳 India · 🗓️ September 05, 2023 · Steel

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India greenlights auction for four iron ore blocks in Rajasthan
The officials stated that the successful bidders would be awarded “composite licenses” for exploration and development of the assets and extraction of iron ore, along with any other mineral that may be established in course of the exploration.As per the plans of the state-level Department of Geology and Mines, as many as 38 mineral blocks will be put up for auction in the current fiscal year.It may be noted that there is no steel mill operational in Rajasthan currently.

🇮🇳 India · 🗓️ September 05, 2023 · Steel

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Ramkrishna Forgings bags Euro 8.25 million order in South America
65 crore, for the supply of equipment to a client in the South American market.The company, which exports to over 50 countries, has a manufacturing facility in Jamshedpur in Jharkhand.The company will be supplying front and rear axle components for the next five years, it said in a statement."This contract represents a significant step in our journey to expand and diversify our operations in the South American market," said Ramkrishna Forgings CFO Lalit Kumar Khetan.It has formed a joint venture with Titagarh Rail systems to manufacture and supply 80,000 wheels to the Indian Railways.

🇮🇳 India · 🗓️ September 05, 2023 · Steel

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