South Korean steelmaker Hyundai Steel plans to carry out long-term repair works on electric arc furnaces at its Incheon and Dangjin plants, according to local media reports. For the repair works, the furnace at the Incheon plant will be suspended for four months from February 25 to June 26, while the furnace at the Dangjin plant is scheduled to be shut down for three months from the end of September this year.
Meanwhile, some sources said that the company is also planning to overhaul its rebar production line at Incheon, which would lead to a decline in rebar production against the backdrop of the lower demand resulting from the expected recession in the construction sector. However, Hyundai Steel’s plan would be to stockpile sufficient billet inventory before repair works to minimize disruption in the supply of rebar.
