South Korean steelmaker Dongkuk Steel has decided to lower its production due to reduced rebar demand resulting from the weakness of the construction industry, according to local media reports. The company will operate its two electric arc furnaces at the Incheon plant only at night until the construction industry recovers.
With this measure, the plant’s capacity utilization rate, which was 87.3 percent last year, will decline to 60 percent. The Incheon plant has an annual production capacity of 2.2 million mt.
