South Korean INI plans of EAF closure

South Korean INI plans of EAF closure

South Korean mini-mill INI Steel is in preparations to shut down an electric furnace with a 700'000 ton annual capacity at its Inchon works by end November. This action is within the framework of the company's restructuring plan for cost cutting. With this shut down approximately Won 10 billion ($8.3 million) will be saved. By the closure of this furnace, the number of electric arc furnaces at Inchon Works will reduce to six.