POSCO’s Kwangyang iron works in South Korea achieved 20 million tonnes of annual crude steel output in 2011. The works plans to raise the crude steel production to 26 million tonnes in or after 2014 by establishment of no.4 hot rolling mill and expansion of no.3 steel making plant. The works had focused on automotive steel sheet while added plate mills and increased production of high value added steel products. The works is already the world largest iron works while POSCO eyes additional capacity expansion. POSCO plans to establish global steel production network at above 65 million tonnes per year in 2020 and aims the world third position.Kwangyang iron works’ crude steel production increased by 7% to 20.94 million tonnes in 2011 from 2010. POSCO had planned to increase the capacity to 23 million tonnes per year along POSCO’s target to raise domestic crude steel output to 40 million tonnes until 2018. POSCO currently reviewed the plan to raise the domestic output to above 65 million tonnes. No.3 steel making plant increased the capacity to 3 million tonnes per year from previous 2 million tonnes. No.3 steel making plant supplies slabs to plate mills. POSCO projects to expand the capacity to 6.4 million tonnes by enhancement of steel converter and continuous casting facility. This capacity expansion is accompanied with construction of no.4 hot rolling mill with capacity at 3.3 million tonnes per year inside Kwangyang iron works. Crude steel output was 8.78 million tonnes at no.1 steel making plant and 9.69 million tonnes at no.2 steel making plant in 2010. The works’ current output capacity reaches 23 million tonnes per year by addition of a small electric furnace at 1.8 million tonnes and no.3 steel making plant at 3 million tonnes. The capacity is expected to exceed 26 million tonnes when no.3 steel making plant is expanded as scheduled.
Japan Steel Scrap Composite Prices (Sangyo Press)01/18/2018
|36800YEN (-)||39500YEN (-)|
|327.61US$ (-2.85)||351.64US$ (-3.07)|
* Average of electric furnaces steel maker's purchasing price in Tokyo, Osaka and Nagoya (per ton)