Korean steel giant Posco has inaugurated its No.4 stainless steel plant in Pohang on this Monday.

The new stainless plant with designed capacity of 700,000 tons per year will mainly produce ferritic stainless steel.

It’s known that Posco has been producing stainless steel from electric arc furnace (EAF) and the new No.4 stainless plant will produce high-quality material through blast furnace in Pohang.

Meanwhile, Posco’s stainless crude steel output totaled 925,000 tons in the first half of this year, decreasing by 10% from 1.031 million tons in the same period of a year ago.