Korea IT Times reported that Hyundai Steel will set up a production system for 9% Ni steel plates that can withstand cryogenic temperatures. The 9% Ni steel, which Hyundai Steel completed development in December last year, is widely used as a material for LNG storage facilities due to its excellent resistance to shocks even in cryogenic environments and excellent welding performance. LNG has recently seen a surge in demand due to its significantly lower emissions of pollutants than conventional diesel fuels. However, if LNG is used as fuel for ships, there are technical restrictions such as keeping the inside of the storage facility below minus 165 degrees Celsius.
Hyundai Steel signed a 9% Ni steel contract with Hyundai Heavy Industries in February for fuel tanks for LNG-powered super-large container ships under construction and has been supplying products since June. The supply amount is two LNG-powered super-large container ships, 2,100 tonnes. Before supplying, it has been developing products through two-way Early Vendor Investment activities such as conducting quality evaluation meetings with customers and reflecting customer quality requirements in production.
Starting with this order, Hyundai Steel plans to actively target LNG-related markets such as LNG plants and land storage tanks used in LNG terminals as well as LNG propulsion tank fuel tanks.
source：SteelGuru Business News
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