2 Million Tons Molten Iron Production Finex Fire... POSCO "Will Increase Production at Other Blast Furnaces"

Flexible Operation of Blast Furnaces 2 to 4 in Response to 3Finex Fire

At around 4:20 a.m. on the 10th, a fire broke out at POSCO Pohang Steelworks in Jecheol-dong, Nam-gu, Pohang-si, Gyeongbuk, and was completely extinguished by 9:20 a.m., five hours later. The Coast Guard is inspecting the sea around POSCO. Photo by Yonhap News

A major fire broke out at POSCO Pohang Steelworks, causing inevitable disruption to operations at the No. 3 FINEX plant, which produces molten iron. In response, POSCO announced plans to increase production at blast furnaces No. 2 to No. 4 to compensate.

A POSCO official stated on the 10th regarding the fire at the No. 3 FINEX plant at POSCO Pohang Steelworks, "(Regarding the operational disruption at the No. 3 FINEX plant) we plan to operate blast furnaces No. 2 to No. 4 flexibly," adding, "We do not expect any overall operational disruption."

The No. 3 FINEX plant at Pohang Steelworks, where the fire occurred, is a facility that produces molten iron, similar to a blast furnace. This molten iron is supplied to the steelmaking plant, where impurities are removed to produce steel. POSCO intends to offset the supply of molten iron by increasing blast furnace production. The No. 3 FINEX plant is known to produce about 2 million tons of molten iron annually.

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FINEX is a process that omits the coke manufacturing plant and sintering plant used for preliminary raw material processing, instead using inexpensive powdered iron ore and bituminous coal as raw materials, which can reduce investment and production costs by as much as 15%. Additionally, compared to blast furnaces, it emits only 3% sulfur oxides, 1% nitrogen oxides, and 28% particulate matter, making it recognized as an eco-friendly green technology.

At around 4:20 a.m. that day, an explosion and fire occurred at the tower of the No. 3 FINEX plant at POSCO Pohang Steelworks in Jecheoldong, Nam-gu, Pohang. Residents of Pohang reported that the explosion was so loud that buildings across the Hyeongsan River shook three times. Among the eight workers inside the plant at the time of the fire, one was injured and seven evacuated. The injured person, A (36), suffered second-degree burns and was transported to a hospital in Pohang. The Gyeongbuk Fire Headquarters announced that the fire at the No. 3 FINEX plant at POSCO Pohang Steelworks in Jecheoldong, Nam-gu, Pohang, was completely extinguished at 9:20 a.m. that day.

POSCO, along with police and fire authorities, will investigate the cause of the fire and the extent of the damage. POSCO expects that it will be difficult to operate the No. 3 FINEX plant for the time being. A POSCO official said, "We need to investigate further to determine the cause of the fire and the extent of the damage."