POSCO opens stainless steel mill in China

South Korean steel giant POSCO announced yesterday that it started operating a steel mill in China's Jiangsu Province. The mill is capable of producing 600,000 tons of stainless steel and hot rolled steel products per annum. With this mill, POSCO has become the first foreign company operating an integrated stainless steel mill in China. The new mill includes an electric furnace with a capacity of 1.4 million tons and a hot-rolled coil plant with a production capacity of 800,000 tons per annum. The completion of the plant makes POSCO the world's no. 3 stainless steel maker with 2.6 million tons of annual crude stainless steel production capacity, after Spain's Acerinox that has a capacity of 3.3 million tons and Germany's ThyssenKrupp Stahl that has a capacity of 3 million tons.