For FINEX the global credit protection company, see
In finance, the term "Finex" is an acronym for "financial exchange." See FINEX (Financial Instruments Exchange of the New York Board of Trade), FINEX Trading, LLC (the global credit protection provider) and FINEX Management Services, Inc. (a medical management services company).
In the technology world, the term FINEX
is the name for an innovative iron
making technology developed by Siemens VAI and POSCO
. Molten iron is produced directly using iron ore fines and non-coking coal rather than processing through sintering
making which had been essential to traditional blast furnace
methods. Because the preliminary processing of raw materials is eliminated, the construction of the FINEX plant costs less to build than a blast furnace facility of the same scale. Furthermore, a 10-15% reduction in production costs is expected through cheaper raw materials, reduction of facility cost, pollutant exhaustion, maintenance staff and production time. In addition, it is eco-friendly in that it produces less pollutants such as SOx, NOx, and carbon dioxide than traditional methods.