IRON and STEEL
Korea Herald reported that major industrial facilities including Posco’s steel mill and Korea Hydro & Nuclear Power’s nuclear plants operated as normal, despite a 4.6 magnitutde earthquake in Pohang, North Gyeongsang Province.
The southeastern city, home to the country’s largest steelmaker, was hit by a 4.6 magnitude quake at 5:03 AM, 5 kilometers northwest of the city’s northern district at a depth of 9 kilometers.
It was the second strongest quake in the region, following a 5.4 magnitutde quake in November.
Posco’s steel mill in Pohang is running without abnormal signs, the steelmaker said.
South Korean steel producer Posco said the electric vehicle (EV) industry this year faces growth limits until a product is available widely enough for demand to achieve large-scale gains.
Australian miner Galaxy Resources Ltd said on Monday it has received several offers from potential partners for its flagship Sal de Vida project in Argentina.
According to a prediction by POSCO Research Institute, the number of shipbuilding contracts is likely to increase by 7.7% this year.
South Korean steel producer Posco has agreed to a contract price of $145/t fob Australia for the October-December quarter with Australian producer Realm Resources for low-volatile pulverised coal injection (PCI) brand Foxleigh.
In its latest report ‘Asia Steel Outlook’ Moody’s Investor Service have forecasted that steel demand in China for 2019 will remain flat, thus reflecting the higher infrastructure spending that will limit the negative effects of the ongoing China-US trade dispute, and slower growth in China's real-estate investments.
South Korea based HRC importers have turned active and are procuring material from China amid competitive steel prices along with tight supply in domestic market.