South Korean steel giant POSCO said it will not resume operations at its No. 1 plate mill, while efforts to restore full activity at its Pohang mills continue.
Most of the Pohang facilities on Korea's southeast coast were hit by the Hinnamnor typhoon in early September, forcing the company to shut down all operations at the facility for the first time in its 49-year history.
POSCO said that it expects 15 of the 18 rolling mills in the factory to be fully restored by the end of the year, with the final decision the plate mill No. 1 will not continue its operations.
Established initially with a capacity of 400,000 tons/year (later increased to 600,000 tons/year), the plant was in a prominent position at that time in supplying heavy plate and ship plate to Korea's developing shipbuilding and construction industries.
Plate plant No. 1 was eclipsed by the larger and more efficient plate mills, plant No.2 with a capacity of 2.7 million tons/year and No.3 with a capacity of 1.2 million tons/year. It was unclear whether the plant would continue before typhoon Hinnamnor.
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