POSCO reduces steel production for first time due to epidemic
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Update time : 2020-05-13 14:57:48
Due to the impact of the epidemic, POSCO has reduced production for the first time in 12 years. The planned production was expected to reduce by about 30% of 980,000 tons in May.
POSCO will reduce the capacity utilization mainly of cold and hot-rolled steel coils in Pohang and Gwangyang works by 180,000 tons and 800,000 tons respectively.
Gwangyang Work mainly produces automotive steel materials, but automobile production of South Korea fell sharply and was estimated to reduce by 20% in the second quarter, which was equivalent to 860,000 units. Therefore, POSCO decided to significantly reduce the capacity at this mill.
