South Korean steelmaker POSCO Group has announced that it has restored and restarted its cold rolled stainless steel mill No. 2 and electrical steel mill No.1 in Pohang after suspension in September last year due to the fire caused by the Hinnamnor typhoon.
The cold rolled stainless steel mill No. 2 which was restarted on December 24 is expected to help stabilize the supply and demand of stainless steel in the country. The cold rolled stainless steel mill No. 2 produces about 70 percent of the annual cold rolled stainless steel products produced by Pohang Works, while the electrical steel mill No.1, which resumed operations on December 30, accounts for about 60 percent of the production of grain-oriented electrical steel products.
POSCO plans to resume the operation of all rolling mills within January by carrying out flood recovery work at the Pohang Works.
The company also restarted its hot rolled steel production plant No. 2 in December, as SteelOrbis previously reported.