Zhangjiagang Pohang Stainless Steel (ZPSS), POSCO`s stainless steel production subsidiary in China, became the first foreign company in China to establish a 1 million-ton steel production line in the country.
On June 13th, POSCO held the comprehensive completion ceremony of the annual 1 million-ton stainless steel production and 600,000tn cold-rolled iron production lines at ZPSS.
On June 13th, POSCO held the comprehensive completion ceremony of the annual 1 million-ton stainless steel production and 600,000tn cold-rolled iron production lines at ZPSS.
By completing the integrated stainless steel production facility, the entire stainless steel production capacity including Pohang Steelworks has increased to 3 million tons, placing it in the world`s second place tier stainless steel maker aside Acerinox (3.4 million tons) and Taiyuan (3 million tons).
The dephosphorization furnace installed by ZPSS can increase the usage rate of nickel cold iron, a low cost material with high impurities, up to 60%, leading to an expected USD 40 million cost reduction each year.
At the event, 380 personnel including Chairman Joon-yang Chung, China`s Vice Governor Zhang Wei-guo of Jiangsu Province, Vice Mayor Huang Qin of Suzhou, Secretary Xu Mei-jian and Mayor Yao Linrong of Zhangjiagang, Shanghai Consul General Chong-gi Ahn, and local clients and residents attended.
