Charlotte, North Carolina-based Midrex Technologies Inc. says more than 108 million tons of direct reduced iron (DRI) were produced in 2019, representing a 7.3 percent rise in output from 2018.
The maker of DRI systems, which convert iron fines or pellets into metallics suitable for use in electric arc furnace (EAF) steelmaking, says world DRI production has increased by 35.5 million tons, or nearly 49 percent, since 2015.
EAF steel capacity continues to rise globally. In the United States, Nucor Corp., Steel Dynamics Inc., ArcelorMittal and Commercial Metals Co. are among the steelmakers with new capacity underway in 2020.
One recent industry analysis has predicted that high-grade ferrous scrap supplies could be severely strained in 2021 and beyond, creating a growing market for DRI and other alternative iron products.