SEOUL, May 12 (Korea Bizwire) — South Korean steelmakers are at odds with local shipyards over the price hike of thick steel plates used for shipbuilding, industry sources said Friday. Industry leader POSCO and other steelmakers are pushing for hike prices of 6 millimeter or thicker plates, citing soaring iron ore costs and electricity rates [...]
SEOUL, Feb. 16 (Korea Bizwire) — South Korea plans to create a fund worth 150 trillion won (US$116.9 million) to provide assistance for steelmakers’ transition to a low-emission production structure and to boost competitiveness, the industry ministry said Thursday. Industry Minister Lee Chang-yang and chiefs of the country’s seven major steelmakers, including POSCO Holdings Inc., [...]
SEOUL, Sept. 17 (Korea Bizwire) — POSCO and Hyundai Steel Co., South Korea’s two largest steelmakers, will start using oyster shells as a secondary base material for steel production. Both companies were inspired by the fact that oyster shell substances are similar to the limestone used for sintering and have been developing a recycling technology [...]
SEOUL, July 9 (Korea Bizwire) — South Korea’s major steelmakers are engaged in stiff competition to get the upper hand in the production of color steel plates, for which demand is surging in the areas of construction and home appliances. Color steel plates are steel products that are coated with special paints, with digital printers [...]
SEOUL, June 17 (Korea Bizwire) — South Korea’s leading steelmaker POSCO is likely to post a record operating income for the second quarter of the year on a recovery in global demand, according to market forecasts Thursday. Eight local brokerages’ median estimate for POSCO’s operating profit stands at 1.93 trillion won (US$1.73 billion) for the [...]
SEOUL, May 31 (Korea Bizwire) — South Korean steelmakers have raised automotive steel prices for the first time in four years, people familiar with the matter said Monday, a move that could boost their bottomlines. POSCO, the country’s largest steelmaker, reached a deal with Hyundai Motor Co. and Kia Corp., the country’s two biggest carmakers, [...]
SEOUL, Feb. 24 (Korea Bizwire) — South Korean steelmakers are rushing to ramp up capacity utilization in an effort to meet rising demand at home and abroad, industry sources said Wednesday. The move comes amid stabilizing international steel prices due to a drop in China’s steel exports, and expectations for an increase in domestic demand [...]
SEOUL, Jan. 30 (Korea Bizwire) — South Korean steelmakers have launched talks with shipbuilders over prices of thick steel plates, which are mainly used for shipbuilding, people familiar with the matter said Saturday. POSCO, the country’s largest steelmaker, said it is pushing to raise prices of thick steel plates — a key material that accounts [...]
SEOUL, Jan. 26 (Korea Bizwire) – South Korean steelmakers are doubling down on hydrogen-related investments, as part of efforts to overcome the ever-toughening environmental regulations as well as to create new growth engines. Industry experts say that in a situation where the steel industry is stigmatized as being devastating to the environment, the core competitiveness [...]
SEOUL, Jan. 7 (Korea Bizwire) — South Korean steelmakers are expected to see their earnings bounce back in the first quarter of the year on a recovery in demand and rising prices, analysts said Thursday. The rosy outlook represents a stark turnaround from their dismal performances last year in the wake of the coronavirus pandemic [...]