South Korean steel giant POSCO announced yesterday that it started operating a steel mill in
China's Jiangsu Province. The mill is capable of producing 600,000 tons of
stainless steel and hot rolled steel products per annum.
With this mill, POSCO has become the first foreign company operating an integrated
stainless steel mill in
China.
The new mill includes an electric furnace with a capacity of 1.4 million tons and a hot-rolled coil plant with a
production capacity of 800,000 tons per annum.
The completion of the plant makes POSCO the world's no. 3
stainless steel maker with 2.6 million tons of annual crude
stainless steel
production capacity, after
Spain's Acerinox that has a capacity of 3.3 million tons and
Germany's ThyssenKrupp Stahl that has a capacity of 3 million tons.