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Nippon Steel resumes HRC deal with Union Steel
Source: YIEH, September 27, 2007
South Korean Union Steel has resumed the HRC deal with Japanese Nippon Steel to expand its capacity. Nippon Steel Trading Company just exported 10,000 tons of HRC in September to Union Steel, and the remaining 10,000 tons will be shipped in the fourth quarter.
From 1990, Nippon Steel only supplied HRC for piping to Union Steel, which has transformed the piping business to plate/sheet production. Posco became the HRC supplier to Union Steel. In 1985, Union Steel merged with DongKuk Steel, which had joint-venture later with JFE group's Kawasaki Steel. JFE started to supply most of HRC to Union Steel, while Nippon Steel stopped providing this material.
Union Steel intends to expand coated steel capacity to 1.65 millions tpy. By 2008, the company plans to increase the CR production from 1.15 millions to 2 millions tpy. Due to this expansion project, Union Steel needs to add more purchase on HRC; therefore, the company restored the business with