Posted on 29 Mar 2024
Indonesian steelmaker Dexin Steel is close to completing a feasibility study for a direct reduced iron plant in the Middle East, Kallanish understands from Jakarta-based industry sources. The firm will also consider building a steel plant in the region.
Meanwhile, a Dexin representative said on the sidelines of Kallanish Asia Steel Markets 2024 in Ho Chi Minh City on Thursday that the firm is exploring opportunities for green steelmaking based on hydrogen. He added the company is also looking for opportunities in direct reduced iron and electric arc furnace-route production.
The representative also said Dexin will start to produce hot rolled coil at the end of June, following its latest expansion, thereby adding 2 million tonnes/year of HRC into the market. 80% of the firm's sales are for exports markets.
According to him, the firm’s current capacity is 7m t/y of crude steel, 2.5m t/y for slab, 4.5m t/y of billet, 0.5m t/y of wire rod, and 1m t/y for rebar.
On the market outlook, the representative expects steel demand this year to decline from last year amid oversupply and global economic challenges.
Source:Kallanish
