The HBIS Group-owned HBIS Serbia, a Chinese steel producer, made a decision to continue the operations of one of its two blast furnaces despite weak demand in the steel market. Blast furnace No. 1, with a production capacity of 900,000 tons of pig iron per year, was suspended in mid-2023. Although still operating with a single blast furnace, the facility produced over 1.1 million tons of slabs at the end of last year, according to sources.
Considering the imbalances in the market, HBIS Serbia declared that it is ready to restart blast furnace No. 1 in compliance with the demands of the customers.
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