Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Begang Group in China fired blast furnace No 5 late last week. The furnace has an annual capacity of producing 2.43mn mt of steel. The service life of the furnace is 20 years.


The blast furnace was constructed in response to the national iron and steel capacity replacement policy with the group planning to achieve 20mn mt of steel production capacity from the present 11mn mt. The project entails an investment of CNY1.24bn.


Another steelmaker, Chongqing Iron and Steel, also ignited its blast furnace no 2 on Nov 30 after the successful completion of its overhaul. The furnace was idled on Sept 29, 2020, for major renovations to eliminate the threat of high temperature on the sidewall of the hearth. The furnace has a daily capacity of producing 7,000mt of hot metal. 



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