POSCO Zhangjiagang Stainless Steel, a subsidiary of South Korean steel giant POSCO located in China’s Jiangsu Province, has had to halt its stainless steelmaking and hot rolled production lines due to the power restriction measures implemented by the Chinese government.
The company’s cold rolled stainless steel production line is still operating. The halted production lines are expected to restart by the beginning of October.
Jiangsu Province has required high-energy consumption industries to restrict power usage as of September 17, causing many local steelmakers to shut down their production lines.
POSCO Zhangjiagang Stainless Steel has a crude steel capacity of 1.14 million mt per year.