South Korea's POSCO to fully restart Pohang Works Jan 20

24 January 2023
South Korea's POSCO to fully restart Pohang Works Jan 20

          South Korea's POSCO said Jan. 19 that its steelworks at Pohang is expected to resume full operations by the end of Jan. 20, ending outages caused by Typhoon Hinnamnor on Sept. 6, 2022.

          "POSCO has completed the restoration of all 17 rolling mills at Pohang Steelworks and will start a completely normal operation system," it said.

          At the end of 2022, POSCO had 15 plants restored at the Pohang Works which is one of two main integrated steel plants for the steelmaker in South Korea. The Pohang Works has a crude steel production capacity of about 17.9 million mt/year.

          Initially, there were concerns the Pohang Works might require some rebuilding. This was not necessary.

          The main challenge was to replace 11 motor drives out of 15 which supply electricity to the various mills.

          India's JSW Steel was able to provide the much-needed drives that it "was manufacturing for its own hot-rolling mill to POSCO," Choi Jeong-woo, chairman of the POSCO Group, said.

          POSCO estimated it would lose about 1.7 million mt of steel production due to the flooding caused by the typhoon.

          As of Dec. 31, 2021, POSCO had about 40.7 million mt/year of crude steel and stainless production capacity in South Korea, and 45.3 million mt/year globally.


Source : S&P Global Commodity Insights.

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