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

Two fire explosions erupted in five minutes span at Posco Steel’s Gwangyang facilities injuring five on Tuesday. No disruption in operation is expected said the company. 


The incident occurred during a waste heat generator test. The explosion knocked out the heat exchanger of the research facility. One of the five injured suffered serious harm. Out of five, three employees were from Posco ICT and two from Pohang Industrial Science Research Institute (RIST).


The company is under inspection to find out the exact cause such as oil leakage behind this accident, while there was no confirmation whether any of the mill’s operation would be suspended due to this blast. It was reported that the location where the explosion happened was away from the operation area, so hardly any of the operation would halt.


Posco has an annual capacity of 42mn mt of steel products, it exports a wide range of steel products including hot rolled sheets, plate, wire rod, cold rolled sheets, galvanised sheets and stainless steel to over 53 countries.

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