Korean steel makers compete over thick plates for offshore structures

South Korea’s three major steel makers including POSCO, Hyundai Steel and Dongkuk Steel are fiercely competing over high value-added thick plates that are used for offshore structures, according to sources in the steel-making industry Tuesday.
POSCO has been implementing its strategies of increasing sales of high value-added steel products for marine structures since last year.
Notably, POSCO is promoting sales strategies of selling steel products for ship-building purposes in packages. The company has recently decided to supply its thick plates for the construction project of fixed platform awarded to Samkang M&T, the nation’s special steel-pipe provider.
For full article see Maeil Business.