South Korean steelmaker POSCO has announced that it has permanently shut down the blast furnace No. 1 at its Pohang plant as its lifespan has ended.
The blast furnace, which was renovated twice since its commencement in 1973, produced a total of 55.2 million mt of crude steel over a period of 48 years and six months.
The company said that it will turn the furnace into a museum, considering the historical value of the furnace.
According to the statement, POSCO stated that it will improve the production at its remaining eight blast furnaces in order to make up for the annual decline of one million mt in output caused by the shutdown.
