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

Posco restarted the blast furnace number 3 (BF #3) at its Gwangyang plant in South Jeolla, South Korea after delaying the event twice in the past two months. 


According to local media reports, the plant was under reconstruction to add 25pc to its current capacity and reach a production output of 4.6mn mt of pig iron. The company now has a combined capacity of 23mn mt from its five BFs. 


The plant was shut in April this year, for modernization and expansion and the completion of the project has ensured a reduction in both, its operating costs and CO2 emissions. 


Posco was set to initially resume its BF #3 operations in May but the relaunch was first postponed to late June, and then to July, with the company citing a slump in global demand for finished steel for the delays. 

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