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USA - Hyundai Steel to build strategic scrap reserve

Hyundai Steel said that it will implement 1 million tonne scrap strategic reserve and plan to build new stock plants in three subsidiary mills. It is learned that Hyundai Steel would firstly enlarge reserve plant at Pohang mill for 100,000 tonnes of scrap and set up a 10,000 to 20,000 square meters plant at Karatsu mill. They haven't released a plan at Inchon mill but intend to buy land soon. If all the constructions are finished, the total scrap reserve will pile up to 1 million tonnes. Hyundai Steel consumes 10 million tonnes of steel scrap every year, so expended plants will assure at least 1 month reserve.

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