Hyundai Steel was announced that it has restarted production of austenitic cold rolled coil at its Incheon works west of Seoul early on 17 September, after a five-day shutdown. The stoppage was the Korean mill’s fourth in as many months, deemed necessary because of falling sales in the wake of declining nickel prices. Posco announced on 29 August that it will cut austenitic stainless output at its Pohang works by 25,000t for the month of September, also due to declining nickel prices and the dent this has placed on orders. Hyundai Steel says operations at its subsidiary, BNG Steel, continue as normal at the Changwon plant near Busan because BNG only produces stainless.
