Displaying items by tag: South Korea

South Korea: Continental New Materials has awarded a granulated blast furnace slag (GBFS) supply contract to steel producer POSCO. Continental New Materials applies technology developed at the Ulsan National Institute of Science Technology (UNIST) to produce clinker-free cement.

POSCO's hot rolled and wire rod marketing manager Kim Dae-Up said "We will continue to provide support so that POSCO's steel by-products can become eco-friendly cement materials and contribute further to carbon reduction."

US: Montana Environmental Trust Group says that it has awarded a contract for the haulage of 2Mt of zinc slag from the East Helena slagheap in Montanato New York-based Metallica Commodities Corporation. Montana Environmental Trust Group said that Metallica Commodities Corporation will convey 20,000t/month of slag by rail to Vancouver for export. The volume corresponds to 14% of a 14Mt supply contract with a South Korea-based zinc smelting company.

Belgium: The World Steel Association (WSA) forecasts that total global steel consumption in 2020 will be 1.65Bnt, down by 6.4% year-on-year from 1.77Bnt in 2019, due to the impacts of the coronavirus outbreak on steel-intensive industries. The WSA estimated that demand will decline by 17% in developed countries, with the steepest falls in Japan, South Korea and the US, and by 18% in India. China’s steel consumption is expected to rise by 1% due to increased infrastructure spending and a swift post-coronavirus recovery. Construction, a mostly seasonal sector, had already reached full productivity in April 2020.

The WSA expects steel demand to increase by 3.8% year-on-year in 2021 to 1.72Bnt globally. The sharpest recovery is expected to be in developing countries, where the WSA says that total demand will increase by 9.2%, following a fall of 11.6% in 2020.

World: Crude steel production grew by 4.9% year-on-year to 925Mt in the first half of 2019 from 882Mt in the same period in 2018. Data from the World Steel Association shows production increased in Asia and North American, remained stable in the Commonwealth of Independent States (CIS) region but that it fell in the European Union. Of the larger individual steel producing countries gains were reported in China, India and South Korea, but declines were noted in Germany and Japan.

World: Global steel production rose by 4.6% year-on-year to 1.81Bnt in 2018 from 1.73Bnt in 2017. Data from the World Steel Association shows that production rose fastest in the Middle East, Africa and Australasia. Asian production rose by 5.6% to 1.27Bnt and North American production grew by 4.1% to 121Mt. European production remained static at 312Mt, with a slight dip in the European Union (EU) balanced by slight growth in the Commonwealth of Independent States (CIS). China remained the largest steel producing country, with 9.28Mt in 2018. It was followed by India, Japan, the US and South Korea.

South Korea: Baring Private Equity Asia has sold Halla Cement to Asia Cement for US$723m. The combined business will be the third largest cement player in Korea, with a combined market share of 19%.

Baring Private Equity Asia bought Lafarge Halla Cement from LafargeHolcim in 2016. It took full control of the cement producer in 2017. It was then reported to be shortlisting potential buyers for the company in September 2017.

Halla Cement operates one cement plant at Okgye and three slag cement grinding plants. It has a cement production capacity of 7.6Mt/yr. It also runs 11 distribution centres in the country, consisting of seven coastal and four inland centres.

South Korea: Ssangyong Cement has purchased a 100% stake in Daehan Cement for US$232.8m. Ssangyong Cement has signed an agreement with Hahn & Company to buy the stake from the private equity firm, according to the Maeil Business Newspaper. Daehan Cement is the country’s largest slag cement producer. Ssangyong Cement’s purchase is expected to preserve the cement producer’s market lead against Hanil Cement which bought Hyundai Cement earlier in 2017.

South Korea: Yoo Gyeong CM has ordered a Loesche mill to grind granulated blast furnace slag at its KyungNam terminal. It will use a LM 41.2+2 CS type Loesche mill with a capacity of 90t/hr at 4500 Blaine. The gearbox of this mill will have a power output of 2800kW.

The scope of supply for this order includes the filter, the fan and the hot gas generator. All of the equipment is to be delivered in 6 - 9 months' time and the mill is to be put into operation as early as October 2016.

Yoo Gyeong CM owns gravel works which it has equipped with its own cement mixing and loading terminals. It currently purchases ground slag to operate its plants.

South Korea: South Korea's steelmaker POSCO has offloaded its shares in POSFINE Co, a slag powder producer, to a private equity fund for an estimated US$27.5m.

Under the deal, POSCO sold its 69.22% stake in POSFINE to Hahn & Co. The move came two months after POSCO had opened talks with the fund in line with its reorganisation efforts. Hahn & Co also reportedly plans to acquire the remaining shares in POSFINE from Tongyang Cement & Energy Corp, Lafargehalla Cement Corp and SSangyong Cement Industry Co.