Dongbu Steel Ships First Hot Coil for Export

Dongbu Steel announced on Wednesday the firm shipped first hot rolled coil for export. The firm exported 2,271 tonnes of hot coil to Vietnam on Monday when the firm stabilizes the operation after start of the electric furnace based integrated hot rolling operation in July. The firm aims to export hot rolled coil constantly by cultivating overseas market. The firm plans to increase the export to 500,000 tonnes in 2012 when the plant reaches annual 3 million tonnes of full capacity operation.

Dongbu Steel produced about 120,000 tonnes of hot coil at Asan Bay works, South Korea, in July-September. The firm shifts to full scale operation in October-December and plans to produce 445,000 tonnes of hot coil, of which the firm sends 40% for the downstream cold rolling operation. The firm expects hot coil export reaches 65,000 tonnes in 2009.

The firm plans to increase the hot coil output to 2.5 million tonnes in 2010 and 2.8 million tonnes in 2011. The firm plans to send 60% of the hot coil to the downstream operation while the firm sells 40% for third parties. The firm plans to export 400,000 tonnes in 2010 and 450,000 tonnes in 2011.