IRON and STEEL
State owned -Steel Authority of India Limited (SAIL), biggest and newly Blast Furnace-8 named Mahamaya in BSP (Bhilai Steel Plant) which was commissioned on 2nd Feb'18 has achieved to crossed 1 MnT mark in cumulative Hot Metal production on 18 Oct'18.
The company also claim that it crossed in record time among all large Blast Furnace of SAIL plants as per the company updated in the website.
The new Blast Furnace-8 has a production capacity of around 8,000 tonnes of hot metal per day equivalent to 2.8 MnT per annum and has a useful volume of 4,060 cubic metres. Other than BF-8, there are seven blast furnaces installed in BSP with a combined hot metal production capacity of 5 MnT per annum. In total, hot metal production capacity of all eight Blast Furnaces in SAIL-BSP’s unit will cross 7.5 MnT.
SAIL is a leading steel producer in India with an overall production capacity of about 21 MnT. Company has recently reported that its saleable steel output was around 14.07 MnT in last fiscal year 2017-18 and the company is targeting to achieve close to 18 MnT in the current fiscal year.
In Q1FY19, SAIL’s crude steel production dropped and recorded at 3.945 MnT compared to the previous quarter in which it was recorded at 4.004 MnT. This shows a quarterly decrease of 1.47% in crude steel production. However on Y-o-Y basis it was up by 13%.
Trade statistics released by Canada custom shows that the iron ore exports by the country recorded at 3.19 MnT in Jan'19. The exports dropped 7 month low in Jan'19, as it was last seen in Jun'18 at 2 MnT. The exports depicted fall of 35% as compared to Dec'18 exports at 4.9 MnT.
SteelMint learned from market sources that Essar Steel having the steel making capacity of 10 MnT has witnessed the growth of 10% in its crude steel output in FY19.
India's major mills that are producing steel through the blast furnace route have raised their finished long steel prices by around INR 500-1,000/MT (USD 7-14) across regions.
The company kept base prices unchanged for today's auction and nearly 10-11% material was booked.
As per SteelMint's analysis, iron ore movement across major producing states of the country recorded at 12.91 MnT (excluding exports) in Feb'19.
Steel Authority of India Ltd (SAIL) - India's govt. owned steel maker conducted e-auction for 9,500 MT steel grade Pig iron today from its Rourkela Steel plant (RSP) based in eastern India.