Steel Dynamics, Inc. has announced that it is making plans to restart its Iron Dynamics operation in Butler, Ind., by the second half of this year. After a thorough evaluation of the production trials that were completed late last year the company concluded that improved production technology, coupled with the ability to recycle waste materials, makes it feasible and desirable for the facility to be restarted to produce liquid pig iron.
When fully operational the facility will be capable of producing around 350,000 tons of liquid pig iron. The material produced will be consumed internally by SDI, and will go toward complementing the company's use of ferrous scrap metal at the palnt.
SDI expects the operation will be able to produce liquid pig iron in sufficient quantities and at a cost to be competitive with purchased pig iron. With the recent escalation of raw materials costs, particularly pig iron, the Iron Dynamics operation is expected to provide a cost-effective alternative to purchased pig iron. In addition, the use of liquid pig iron provides cost and operational benefits to SDI’s steel-making operations.
"We were very pleased with the success of the Iron Dynamics’ production trials late last year using briquetting technology," said Keith Busse, Steel Dynamics’ president and CEO. "We believe the facility can be operated on a profitable basis. After a successful restart later this year, it should turn cash-positive in 2004."
The company’s board of directors recently approved an additional capital investment of approximately $14 million to complete the installation of three additional briquetting machines in the facility. With the addition of the equipment, Iron Dynamics will be able to stockpile iron briquettes after reduction in the rotary hearth furnace, or introduce the hot briquettes directly into the submerged arc furnace. After the briquettes are liquefied in this furnace, the hot liquid pig iron will be transferred in ladles to the flat-roll mill’s melt shop and combined with scrap steel in the mill’s electric-arc furnaces.
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