South Korean steelmaker Pohang Iron and Steel Co. (POSCO) has started repair works at its FINEX furnace No. 3, which had been shut down due to a fire since November last year, according to local media reports. The repair works, which are expected to continue until September, will include replacing equipment.
Unlike a typical blast furnace, the FINEX furnace produces molten iron using powdered raw materials without the sintering and coke processes. The FINEX furnace No. 3 has an annual molten iron production capacity of two million mt.