Hyundai Steel Co. has no plans to cut production further despite weak steel demand due to the coronavirus pandemic, the company's president said. Earlier this year, South Korea's second largest steelmaker reduced its ASTM A588 high strength steel annual production of hot rolled coils from 1 million tons previously to 700 thousand tons per year for EAFs. A turnaround is expected after the third quarter of this year. In the three months to March 31, Hyundai Steel had a net loss of 88.6 billion won ( million), up from 94.4 trillion won in net profit in the same period last year.
15Mo3 steel manufacturing method: adopt oxygen top blown converter method, 182 open hearth method or 3666 to smelt in 3769 electric furnace. After negotiation with the customer, other equivalent methods can also be adopted.15Mo3 steel is used for heating surface pipes, economizers, superheaters, reheaters, etc. of high-pressure boilers ASTM A588 high strength steel (working pressure is generally above 9.8MPa, working temperature is between 450 ℃ ~ 650 ℃).
The company's logistics adopts the method of cooperation with logistics companies. As a third-party logistics company is engaged in the operation of multiple logistics projects, it can integrate various logistics resources, making the logistics operation cost relatively low and the logistics operations more efficient. Thus we can provide more professional logistics services, while also focusing on our core business of steel materials.
In April 2018, our Philiphine customer purchased 1008 Tons API5 L Gr.B ERW&Q345B SMLS pipe ASTM A588 high strength steel for offshore oildfield resources drilling project. This is a regular demand almost two month, and we has been cooperated more than three times, totally around 2100 tons steel pipe since 2015 year.
Recently, the ASTM A588 high strength steel price has fallen into a dilemma, and Tangshan production restriction has started again. When the market transaction is weak, the ASTM A588 high strength steel price gain support again. Although the high demand is not good at present, which will restrain the rise of ASTM A588 high strength steel price, the preference of market mentality and cost side make most ASTM A588 high strength steel manufacturers optimistic about the prosperous season. Therefore, it is expected that the ASTM A588 high strength steel price will be easy to rise and difficult to fall in the near future, so it is suggested that businesses can make up stocks at low prices.
Our focus on quality has helped us create an efficiently organised production system, which can supply large-scale piping orders as well as tailor-made orders for smaller clients. We have also created a sales and support network which stretches from Asia to Europe, UAE, South Africa and South America.
Insist on the spirit of development and indomitable entrepreneurship; the spirit of leading science and technology and striving for first-class affairs; the spirit of strict management and market development; the spirit of taking the lead in setting an example and selfless dedication; and the spirit of people-oriented and enterprise ownership.
