South Korean steelmakers Pohang Iron and Steel Co. (POSCO) and Hyundai Steel each expect to reduce their hot rolled (HR) steel export volumes next year, as they plan to earmark an additional 400,000 mt each of their own hot rolled outputs for use as feedstock for the production of downstream products, as reported by international media sources.
POSCO will commission its 700,000 mt capacity pickling and galvanizing facility next March, while Hyundai Steel will increase its hot rolled steel supply to steel and auto parts company Hyundai Hysco. Hyundai Hysco plans to expand its cold rolled steel and galvanized steel production, using hot rolled steel from Hyundai Steel as feedstock.