News Room - Steel Industry

Posted on 05 Jan 2010

S.Korea Hyundai Steel starts first blast furnace

South Korea's Hyundai Steel said in a statement on Tuesday it had started as scheduled operation of its first blast furnace with an annual production capacity of 4 million tonnes of steel.

 

Hyundai Steel has since 2006 invested a total of 5.84 trillion won ($5.08 billion) to build two blast furnaces with an combined annual production capacity of 8 million tonnes in Dangjin, about 200 km southwest of Seoul.

 

The second blast furnace will start operation next year, the statement said.

 

A Hyundai Steel spokesman said the two furnaces would boost annual output from the country's second-largest steelmaker next to POSCO by 73 percent to 19 million tonnes. ($1=1150.0 Won)