Tag: Posco

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.

Posco is reported to have confirmed that it cut prices for its stainless steel products by 15 to 20% in response to weak global steel prices.

According to a senior researcher of Posco, Mr Young-Hwan Kim, Posco is planning to increase its ferrite stainless steel production ratio up to 35% before 2008.

BP Plc and its partners plan to sign up liquefied natural gas customers by August in the USA and South Korea, allowing them to go ahead with a USD 5 billion project in Indonesia.

Korean steel group Posco is considering raising loans to build a stainless steel plant in Shanghai.

Rapidly growing demand for stainless steel in China has been providing mills in Asia and elsewhere with a market for a sizeable portion of their output.

Nippon Steel Corporation and Nissho Iwai Corporation have received an order for 2 units of Coke Dry Quenching equipment from POSCO.