Tag: Posco

Posco, the largest steelmaker in South Korea, has developed a new stainless steel, graded POS445NF.

In order to balance the continuously hiking nickel cost with the profit margin, South Korea-based Posco is now shifting its production to 400 series stainless steel instead of its 300 type.

POSCO will raise the prices of its 300 grade hot rolled stainless steel products by KRW 200,000pt to KRW 3.71 million per tonne for February shipments.

According to Meps, Korea-based Posco has inaugurated its new stainless steel melting shop in China last month – an addition which consolidates China’s recently-won position as the world’s largest stainless steel producing country.

Posco has announced that the company has formed a strategic alliance with South Korea's Daihan Electric Wire in a bid to expand stainless steel production.

South Korean steel maker Posco has begun operations of its USD 720 million newly-opened steel mill in China's Jiangsu province.

With the commissioning of 0.6 million tonne Zhangjiagang Posco Stainless Steel JV in Jiangsu province, Posco has become the world’s 3rd largest SS maker with its yearly SS output of 2.6 million tonnes behind Spain's Acerinox with 3.3 million tons and Germany's ThyssenKrupp Stahl with 3 million tons.

Posco has increased the domestic prices of its stainless steel products by 9% to 10% from 26 July 2006 to help offset rising raw material costs.

South Korea’s largest steelmaker Posco will increase its domestic prices for stainless products by 200 000 won per tonne to reflect higher nickel prices.

Posco’s stainless mill in China, Zhangjiagang Pohang Stainless Steel Co., is set to commission its 600,000tpy hot rolling facility at its Zhangjiagang works in eastern Jiangsu province in July, with trial production scheduled to start in June, a company source told MB.