INI Steel, Korean electric furnace steel maker of Hyundai group, held a new-year press conference at Dangjin plant at the end of last week and unveiled the development vision of construction of its own blast furnaces. The firm indicated that the steel production and the rolling capacity would be balanced within Hyundai group by construction of blast furnaces and that Korea could be self-sufficient in slab and hot coil which are totally valued at 4 trillion won per year. The firm announced it would build a new apartment complex of 330,000 square meters area for people those who must move with the furnace construction. The firm also announced it plans to establish a new research institute of steels by February 2007 with 50 billion won of total investment. Hyundai group plans to construct 2 blast furnaces and to establish the integrated steel production system with 7 million tonnes of annual output capacity.INI Steel emphasized the new steel plant could cover yearly 4 trillion won of imported steels, when steel sources are in a chronic shortage in Korea domestically. The firm also aims its new research institute would contribute to the growth of Korean auto industries in the future.
Japan Steel Scrap Composite Prices (Sangyo Press)08/08/2022
|40900YEN (-)||43900YEN (-)|
|299.99US$ (-5.19)||321.99US$ (-5.57)|
* Average of electric furnaces steel maker's purchasing price in Tokyo, Osaka and Nagoya (per ton)