South Korean steelmaker Pohang Iron and Steel Co. (POSCO) restarted operations at its blast furnace No. 3 at its Gwangyang steelworks on July 10, following a 20-month maintenance and repair process, according to local media reports. The repair and maintenance cost is estimated at KRW 400 billion ($332.98 million).
The blast furnace was planned to be restarted at the end of May. However, in early June, the company announced that it postponed the resumption of the blast furnace due to weak demand caused by the coronavirus pandemic, as previously reported by SteelOrbis.