The first issue that one battles with, while either setting up a new steel plant or while expanding the capacity, is the choice of steelmaking route to be adopted. Both the EAF & BOF routes have their pros and cons. The FINEX technology developed by Primetals in conjunction with POSCO claims to offer relief from high cost steel making. The big question is “Is FINEX technology the future of low cost steel making”?

The steel industry faces many challenges due to rising energy demands, continuous price increases for coking coal, natural gas & raw materials, and the steadily decreasing quality & quantity of iron ore.

The conventional blast furnace route is both costly and energy intensive, making it difficult to fulfill ever stricter environmental regulations and achieve sustainable economic competitiveness. On the other hand, EAF has large dependence on good quality scrap, HBI and Pig iron.

To combat these issues, Primetals Technologies and the Korean steel producer POSCO have jointly developed innovative technology for the production of hot-metal – based on the direct use of fine ore and non-coking coal, known as “FINEX”.

[b]What is FINEX Technology?[/b]

FINEX® is based on the direct use of iron ore fines and non-coking coal while eliminating the coke-making and sintering processes, which are most critical to the conventional blast furnace process. Combining these two decisive advantages leads to lower production costs and the reduction of environmental emissions in comparison with the conventional blast furnace route.

[b]Advantages of the FINEX® Process [/b]

There are several key advantages to and differences in using the FINEX Process:

* Non-coking coal can be used directly as a reducing agent and energy source
* 100% fine ore can be directly charged to the process; no sintering or pelletizing is required
* Pure oxygen can be used instead of nitrogen-rich hot blast

In addition, the FINEX® Process offers several key advantages over conventional BF methods.

* Economic benefits – low investment and operational costs due to the elimination of coking and sinter plants
* Ecological benefits – lowest process-related emission rates
* Product quality – hot metal quality suitable for ecological steel applications
* CO2 mitigation potential – pure oxygen is used
* Resource preserving – directly uses a wide range of iron ores and non-coking coals
* Beneficial by-products – generation of highly valuable export gas for various purposes (electric power generation, DRI production, or natural gas substitution)
* The FINEX® Process combines coking plant, sinter plant and blast furnace into a single iron making unit.

Dr. Gerald Wimmer, (Vice President – Convertor Steel Making) of Primetals speaking about the FINEX Technology at the [b]3rd Steel Scrap & Raw Materials Conference: Asia,[/b] on 11th & 12th September 2017 at Hotel Avani Riverside, Bangkok.