POSCO Assists Japan Users by Steel Supply

POSCO, South Korean largest steel maker, announced on Wednesday the firm helps Japanese steel users by acceptance of emergent shipment requests due to Tohoku-Kanto Earthquake. POSCO already decided supply of hot and cold rolled steel sheet for steel tube at total 13,000 tonnes to Maruichi Steel Tube. POSCO adjusts refinement schedule and increases output as largely as possible in order to meet emergent supply offers from Japan. The firm also eyes supply cooperation with Japanese integrated steel makers including a strategic partner, Nippon Steel.

POSCO Japan’s officer explained to Japan Metal Bulletin there has been no actual order of steel supply other than Maruichi Steel Tube and POSCO hasn’t concreted actual assistance plan, but POSCO is preparing for emergent offers of Japanese steel industry. Japanese steel users are now devoted to collect information and design recovery plan. POSCO can take actions if Japanese steel users request any concrete assistance to POSCO next week.

Japanese steel makers’ production and shipment stacked up due to mega earthquake and crunch of electric power distribution. POSCO tries to keep steel shipment to Japanese users in balance with domestic supply in South Korea.

Mr. Chung Joon-yang, CEO of POSCO, sent sympathy letters to Nippon Steel, JFE Steel and Sumitomo Metal Industries after the quake. He noted he believes Japanese steel industry overcomes the crisis and recovers stable operations as well as POSCO is prepared for required supports.