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

South Korean steelmaker Posco delays the resumption of a blast furnace at Gwangyang plant to the end of June on weak demand, according to local media. The company had previously planned to restart operations of the blast furnace in late May but, repair and maintenance along with diminishing demand compelled the company to reschedule the restart of the furnace.


Posco has also decided to put some workers on paid leave as production process took a hit due to the COVID-19 pandemic. The production of cold-rolled steel and plating lines are likely to remain suspended on the back of weak demand from automakers, shipbuilders and home appliance manufacturers.


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