South Korean steelmaker Pohang Iron and Steel Co. (POSCO) has halt production at its Pohang plant due to a fire, according to a report by Reuters.
The fire broke out at the No. 3 FINEX furnace, which has a molten iron production capacity of 2 million mt per year, and injured one employee. It has since been successfully extinguished. An official from the company stated that the authorities are now carrying out an investigation to determine the cause of the fire.
Even though the restart of the Pohang plant remains to be decided, POSCO’s overall production is not expected to be affected by the incident.