Direct-reduced iron (DRI), in the form of pellets and lump, or hot briquetted iron (HBI), has become increasingly important to the steelmaking industry in the last decade. According to MIDREX Technologies Inc., 45.1 million metric tons were produced worldwide, and 11.3 million metric tons of DRI and HBI were transported worldwide in 2002, 57 percent of which was HBI. Ocean transport of products grew to more than 6.7 million metric tons, with HBI accounting for three-quarters of this total. Tremendous growth in the electric furnace sector of steelmaking is the primary reason for increased trade of metallics, including DRI/HBI. This trend is expected to continue, and MIDREX predicts that metallics trading will rise nearly 100 million metric tons over year 2000 levels. Of this, HBI/DRI production will increase 30 million metric tons, with international shipments accounting for an additional 10 million metric tons of DRI/HBI.
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