It is generally recognized that the world's second largest stainless steel producer is a South Korean company «Posco». It plans to reduce the production of stainless steel, made of nickel-based in order to prevent nickel price volatility. However it expected to release a 400-series stainless steels, including other products requiring smaller amounts of nickel.
The reason for the uncertainty in the field of business management for «Posco» became unstable nickel market this year. The share of stainless steel, which was made on the basis of nickel comprises up to 57% of total stainless steel in the world market. A decrease in this ratio to 70%.
In «Posco» South Korea will build a new metallurgical plant. The amount of 1.4 billion. Dollars. holding company will make the investment required for the project. The company specializes in the production will be high-quality hot-rolled steel products.
The main work of the holding is in the manufacture of hot and cold rolled products, including the supply of its products shipbuilders and automakers. Until 2011, the Corporation plans to increase production volume up to about 40 million. Tons.