Hyundai Steel sees orders from 3-4 Japanese shipbuilders

Hyundai Steel , South Korea's second-biggest steelmaker after POSCO, said on Thursday that it expected to secure orders from three to four Japanese shipbuilders in the second half.

Hyundai Steel said in a statement that it expected to supply at least 10,000 tonnes of shipbuilding heavy plates per month to Japanese clients under the potential deals. A Hyundai Steel spokeswoman declined to identify the customers, citing confidentiality.
South Korean and Chinese steelmakers are raising volumes and moving up the value chain into steel products traditionally dominated by Japanese companies who are already reeling from the strong yen and the aftermath of the March 11 quake.
In April 2010, Hyundai Steel started production at its heavy plate plant with an annual capacity of 1.5 million tonnes, with a plan to further expand the capacity to 3.5 million tonnes in September 2013.
Hyundai Steel made inroads into the Japanese shipbuilding plate market in the first half, supplying its products to one shipbuilder, a spokeswoman said.
POSCO also increased its heavy plate capacity by 2 million tonnes to 7 million tonnes this year.
Source: Reuters