South Korean steelmaker Hyundai Steel has temporarily suspended its two cold rolling mills at its Dangjin Steel Works on October 12 until October 26 due to a labor union strike.
The company’s four labor unions affiliated with the Korean Confederation of Trade Unions have started a strike at the end of September to negotiate for wages in 2022, according to local media reports. The workers have expanded the strike from steel plate and special steel plants to the hot rolling mills since the beginning of this month.
As the strike disrupted the production of hot and cold rolled steel, market concerns over steel supply in South Korea have deepened, SteelOrbis understands.
Meanwhile, the workers at Hyundai Steel’s plant in Suncheon did not participate in the strike, though the cold rolled steel production line is under planned repair works on October 16-24.