POSCO of South Korea announced on Thursday the firm will build new steel making shop including two 300 tonnes-converters and slab and bloom casters in Pohang works for 1.4 trillion won. The firm builds new steel making shop with 4.5 million tonnes of annual output capacity by 2010 replacing existing no.1 steel making shop. The works will expand the carbon steel making capacity by 3.2 million tonnes to 14.5 million tonnes including no.2 steel making shop, which finishes expansion in second half of 2007, to secure 1.4 million tonnes of additional steel source demand for plate mill expansion. The works builds a converter for dephosphorization and a converter for decarbonization along with 2 ladle furnaces and a vacuum degassing furnace. The works tries to expand the output capacity of high valued plate products for large bridge and shipbuilding with the new slab caster, which can make 400 millimeters thick slab, while the works will improve the production ability for high valued wire rod with the new bloom caster. The works will improve the cost competitiveness, energy saving and quality through the modernization. Pohang’s no.2 steel making shop with 3 converters will increase the annual output capacity to 10 million tonnes after the commission of new 300-tonnes converter for dephosphorization in second half of 2007 from current 8.6 million tonnes. The works has 14.5 million tonnes of annual carbon steel output capacity in 2010 after commission of new steel making shop and closure of no.1 steel making shop with 3 100-tonnes converters and total 2.7 million tonnes of capacity.
Japan Steel Scrap Composite Prices (Sangyo Press)
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