South Korean shipyards face a potential disruption to steel supplies after Posco was forced to shut down production due to damage sustained from Typhoon Hinnamnor.
Posco, the country’s largest steelmaker, as well as Hyundai Steel suspended operations at their plants in Pohang after facilities were flood by the powerful storm, according to regulatory filings Wednesday.
Posco said in a statement that production and shipments at its Pohang steel plant had been suspended as the rain had flooded significant parts of the plant.
