South Korean steelmaker POSCO has announced that it has completed the construction of plant No. 2 at its automotive steel processing center in Chongqing and has started production. The plant processes high-strength steel and has a capacity of 140,000 mt annually. The steel processing center in Chongqing is expected to contribute substantially to increased sales of world premium (WP) structural steels. With this center, POSCO plans to have a closer relationship with major car manufacturers in Chongqing, such as Changan Ford and Changan Automobile to ensure a stable supply of products.
In addition, POSCO also announced the completion of construction of its other automotive steel processing center in Chengdu. With this steel processing center, POSCO also plans to supply global automotive manufacturing companies in western China with processed automotive steel sheets. Chengdu has more than a 90 percent market share of automobile production in the province of Sichuan.