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May 16, 2022 - BY Admin

Over 150,000 t crude steelmaking capacity receives govt approvals in April

New capacity that received consent to establish (CTE) since Apr'21 stands at around 12.5 mnt, of which the share of the BF-BOF route is 2 mnt or 16%, while the rest 10.49 mnt is accounted for by the electric-induction furnace route at a share of 84%, data reveals.

Indian steel mills are expanding capacity via forward and backward integration to meet rising steel demand. Data shows that since Apr'21 the sponge iron producers have received approval to expand capacity by 8.5 mnt. -- Steelmint