South Korean steelmaker Hyundai Steel has suspended production of its electric arc plant on the west coast of South Korea due to weak demand.
The company said that some operations have been halted starting this week at the Danjin Iron and Steel Works, 123 kilometers south of Seoul. The company said orders dropped to nearly zero in June.
Industry observers said that if the global pandemic is not under control and the market does not recover, Hyundai Steel and others will have to close more operations to cut costs.
Hyundai Steel stops production at Dangjin plant
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Azovpromstal® 3 June 2020 г. 12:12 |
