Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Fire broke out at Posco’s Pohang steel mill in Korea’s North Gyeongsang province on Saturday. The fire was extinguished in two hours and no casualties were reported, as per local media. The plant was under maintenance.


The fire is expected to have damaged some of the mill’s productions lines, but the company’s production would not be impacted as those lines were already under maintenance. Posco is investigating the fire incident and assessing the damages, said an official quoted by local media. 

Posco operates four blast furnaces at its Pohang Works. In May, for the first time in 12 years, the company reduced its steel production amid weak demand from the automobile sector. Production at Pohang was reduced by 30pc or 180,000mt. The plant produces hot-rolled and cold-rolled steel sheets for auto companies.

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