28
Jun
13:18
HBIS agrees auto sheet joint venture with Posco
Major South Korean steel producer Posco has reached an agreement with China’s HBIS to jointly build a production base for galvanized steel sheet for the automotive sector in Tangshan, Hebei Province. The capacity will be 900,000 tonnes/year, Kallanish notes.
HBIS and Posco will each hold 50% of the joint venture, with a total investment of $600 million. The plant is set to start construction in January 2022 and to be completed by the end of 2023.
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Very good overview of the weekly steel market.
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