Highveld Steel
“’ production heats up
 
Johannesburg, South Africa — MININGREVIEW.COM — 16 July 2010 – Highveld Steel and Vanadium “’ South Africa’s second-largest steel producer “’ has reported a 19.1% increase in year-on-year production in the second quarter of 2010.

In a statement released here, the company reported hot metal output of 173 862 tonnes for the second quarter of 2010, compared to 146 013 tonnes in the same quarter the year before. Quarter-on-quarter hot metal production was 3.7% lower from 180 456 tonnes in the first quarter of 2010.

The statement added that continuously cast block production reached 175 785 tonnes in the second quarter, which is 19.5% higher than the 147 072 tonnes produced in the same quarter of 2009, but 2.2% lower than the 179 718 tonnes produced in the first quarter.

Production of sections was 58.3% higher year-on-year to 56 484 tonnes, while production of plates was up 50.9% to 50 625 tonnes and coil output climbed 63.2% to 34 317 tonnes in the second quarter.

It added that improvements were also seen in vanadium production with vanadium slag output up 47.8% year-on-year to 3.65 million kilograms. Ferrovanadium production grew 25.3% to 1.39 million kilograms.

The average selling price of steel was 36.9% higher at US$713 per tonne during the quarter, while the average selling price of vanadium slag was 100% higher at US$7 a kilogram and ferrovanadium fetched US$30 a kilogram, an improvement of 57.9%.