Transcription of SPONGE IRON INDUSTRY : CURRENT SCENARIO
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SPONGE IRON INDUSTRY : CURRENT SCENARIO
OVER VIEW AND PROFILE OF THE INDUSTRYROLE OF DRI IN ECONOMYThe SPONGE iron has of late come up as a major input material for steel making through electric furnace route both Electric Arc Furnace and Induction Furnace. Due to long gestation period, huge investments, dependence for coke on foreign suppliers, etc., the steel INDUSTRY is slowly diverting itself from blast furnace route to electric furnace route and the requirement of SPONGE iron is increasing very fast. Another major reason is the global shortage of steel making furnaces in the eastern region use average 70% SPONGE iron in the feed material for steel making. The future for the SPONGE iron is therefore quite steel is today considered as the backbone of India economy.
Sponge iron industry has made several representations to the competent authorities for changes in policy which will help the sponge iron industry to procure iron ore at a regulated /
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