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India emerges world`s largest producer of sponge iron
New Delhi, Oct 26: India, for the first time, has emerged as the world`s largest producer of sponge iron in 2002, accounting for around 12 per cent of the global output.
New Delhi, Oct 26: India, for the first time, has emerged as the world's largest producer of sponge iron in 2002, accounting for around 12 per cent of the global output.
In 2001, Mexico occupied the numero uno position with India a close second. Mexico has moved down to the third place in 2002 with Iran slipping to the second position, said Icra Information, Grading and Research Service (Ingres) in its industry flash.
Icra, quoting figures of global consultant and technology supplier for sponge iron midrex from USA, pointed out that with 6.53 million tonnes production in 2002, India became the world's largest producer in this category. It recorded a 16.87 per cent increase in production from 5.59 million tonnes to 6.53 million tonnes. Out of this, 3.416 million tonnes were produced by the gas-based units while the remaining 3.116 million tonnes by the coal-based units.
India is followed by Iran with 5.3 million tonnes production and Mexico and Venezuela with 4.8 million tonnes each. Together, these four countries account for around 40 per cent of the global production, according to midrex, which controls about 93 per cent of the world's sponge iron production by its technology. Ingres, a division of Icra, noted that the demand for sponge iron is likely to remain buoyant due to the expected improvement in the capacity utilisation of the secondary steel producers and the shortfall in scrap generation.
Highlighting that the prospects of the sponge iron sector have improved following the strong performance of the steel industry during FY2003 and carried forward in the first quarter of FY 2004, it indicated that the positive prospect for the steel industry is expected to be sustained in the medium term. Bureau Report
Icra, quoting figures of global consultant and technology supplier for sponge iron midrex from USA, pointed out that with 6.53 million tonnes production in 2002, India became the world's largest producer in this category. It recorded a 16.87 per cent increase in production from 5.59 million tonnes to 6.53 million tonnes. Out of this, 3.416 million tonnes were produced by the gas-based units while the remaining 3.116 million tonnes by the coal-based units.
India is followed by Iran with 5.3 million tonnes production and Mexico and Venezuela with 4.8 million tonnes each. Together, these four countries account for around 40 per cent of the global production, according to midrex, which controls about 93 per cent of the world's sponge iron production by its technology. Ingres, a division of Icra, noted that the demand for sponge iron is likely to remain buoyant due to the expected improvement in the capacity utilisation of the secondary steel producers and the shortfall in scrap generation.
Highlighting that the prospects of the sponge iron sector have improved following the strong performance of the steel industry during FY2003 and carried forward in the first quarter of FY 2004, it indicated that the positive prospect for the steel industry is expected to be sustained in the medium term. Bureau Report