POSCO, South Korean integrated steel maker, held an opening ceremony on Friday to celebrate completion of a magnesium sheet plant in Haeryong industrial estate, Suncheon City, South Korea. About 400 people were present at the ceremony. The plant has output capacity at 3,000 tonnes per annum to melt magnesium ingot in a heating furnace and directly cast out a thin sheet without manufacturing a slab, an in-process material.Magnesium sheet market is expected to grow up widely in future. POSCO aims to dominate in the market with its productive technology to establish an integrated production system for magnesium sheet, while Japanese light metal manufacturers have advanced the development as well.POSCO will supply magnesium sheet produced at Suncheon plant to South Korea, China and Southeast Asia mainly for cellular phones, MP3 music players and digital appliances. In future POSCO aims to increase the sales for automobiles and leisure goods.POSCO has planned magnesium business since 2002 and established the world first continuous casting and rolling line at Research Institute of Industrial Science & Technology in Pohang. The firm proved the world top level competitiveness through the test production for sheet with 0.4 millimeters thick.
Japan Steel Scrap Composite Prices (Sangyo Press)11/15/2018
|32700YEN (-)||37900YEN (-)|
|285.17US$ (0.67)||330.51US$ (0.77)|
* Average of electric furnaces steel maker's purchasing price in Tokyo, Osaka and Nagoya (per ton)