South Korea: Hyundai Steel may sell off coating line at Incheon works

Hyundai Steel may sell the continuous coating equipment line (CCL) of its Incheon works due to the decline in profitability. The operations of CCL at the Incheon works were suspended from Sept’22 due to the inflow of low-priced imported materials from the colour steel sheet market for building materials and the high competition from domestic steel companies to expand CCL facilities. The steel major has one CCL operational in Dangjin and Incheon works, with an annual production capacity of 0.15 mnt each.