Steelworks Begin Regular Facility Maintenance and Repair Works

摘要

Amid a slump in domestic sales caused by the weak buying interest of consumers and a consequent rise in inventories, local steelworks are scheduled to conduct their regular annual facility repair and maintenance works, beginning in mid-January. Thus, it is expected that the worsened imbalance of demand and supply of steel products in the domestic market with growing inventories will be much improved, getting out of the oversupply. Dongkuk Steel commenced its 13-day regular facility maintenance work January 16 on the steel bar mill at its Pohang Plant with the schedule to end the work by January 28. Due to this large-scale facility revamping work on the mill, which is capable to turn out 520,000 tons of steel bars per year, its monthly output of steel bars is expected to drop by more than 15,000 tons in January. The company explained that the regular facility maintenance work on the mill will be much helpful for a drop in its inventory burden to a large degree, although it is not being carried out as any emergency measures to cope with the current business slowdown of consumers and its growing inventories of the products.