AK Captial completes Hanbo purchase this week
The purchase of Hanbo Iron and Steel Co. by AK Capital is expected to complete on July 10. Once the purchase procedures are completed, the EAF
flats plant is scheduled to be restarted in November as a separate company called Dangjin Steel Corp. (DASCO).
DASCO is expected to consume 2 million tons of
scrap and substitutes for
production. 70% of this requirement will be met through imports and 30% from domestic supply.
Furthermore, an annual
consumption of about 1.15 million tons is foreseen in the bar mill complex. It is also pronounced in the industry that DASCO may also go into
production of special bar quality as well as rebars.