Just a year ago, global steel industry started to show a sign of recovery from the deep crisis. Many companies re-established their bottom line of profitability and finally shifted from a survival mode to growth.
Today, thanks to slow but continuous increase of steel demand and significant capacity cuts in China, the growth momentum of the steel industry further strengthens on a broader geographical footprint. World Steel Association has recently reported solid fundamental improvement in US, re-acceleration in China and firming recovery in Europe and some developing economies.
Integrated value chain optimization to further decrease production cost
Besides increased capital investment on equipment upgrades and construction of new projects, we have observed many steel companies pay more attention to advanced analytics, cloud computation, IoTs and other Industry 4.0 technologies, aiming to further reduce production cost based on integrated value chain optimization.
NLMK, one of the largest steel companies in Russia, has also decided to further enhance the cost reporting and blast furnace productivity features of their current SCOOP solution that is successfully running since 2015.
As an advanced analytics solution provider, N-SIDE is working with many steelmakers to help them improve profitability by implementing an intelligent & integrated profit maximization software application. The solution optimizes both strategic and operational decisions along the entire value chain of the steelmaking process.