HEG aims to undertake brownfield expansion

Ravi Jhunjhunwala, CMD, HEG  said we are looking to undertake brownfield expansion.

He said that there is no change in graphite electrode pricing, in fact the market is strengthening every month.

“China has closed about 150 million tonne of its steel capacity; the outdated blast furnaces and induction furnaces. So this has resulted into a drop in their export of steel from a peak of about 130 million tonne sometime in 2015-16,” he said.

“I am giving you an authentic data which says that in the first quarter of 2018 that 130 million tonne is down to about 65 million tonne. So this is like 50 percent drop in about 18 month time,” Jhunjhunwala added.

He further said that six graphite electrode plants around the world have been shut down.