India Steel Market Watch
November 18: Jindal Steel and Power Ltd’s Raigarh Steel Plant created a new world record with 42 heats in its steel melting shop’s new oxygen furnace (NOF). This unprecedented steel-making feat in a single day was achieved on November 14. Earlier Shagun Steel, China held the record with 40 heats in a single day.
In a tryst to augment cost effectiveness in steel making, JSPL developed a new steel making process - New Oxygen Furnace (NOF), wherein steel is made by charging upto 90% of liquid hot metal and using only chemical energy; without the aid of electrical energy. This process ensures higher yield and productivity, low capital investment as compared to basic oxygen furnace (BOF). It also leads to lower slag generation and zero electrode consumption.