POSCO's hot rolling mill resumed operations in October, but its annealing and pickling lines at its stainless steel plants were not up and running at the same time.
POSCO Annealing Line No. 2 was expected to resume operation in December. Therefore, POSCO Zhangjiagang is currently processing AP hot rolled sheet to maintain market supply. After the No.2 annealing line is put into operation, 1000mm and 1219mm thick AP hot rolled sheet can be processed locally in South Korea.
In addition, POSCO's No. 1 annealing line is expected to resume operation in early 2023, after which it will be able to process 1524 mm thick hot-rolled sheet.
Meanwhile, the price of nickel on the LME has risen lately and the market expected that there would be a strong possibility of a price increase in December. POSCO said it will monitor the LME nickel trend and the offerings of steel mills in different countries and adjust its price flexibly.
POSCO Stainless Steel Hot Rolling Mill Resumes Operations
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