Posco leads the way with innovative steel

24 October 2016

Posco is strengthening its competitiveness in the global steel market by expanding sales of its high-profit “World Premium” (WP) products.

Posco’s WP products encompass the company’s “World First” (WF), “World Best” (WB) and “World Most” (WM) products. WF refers to products Posco has developed and commercialized for the first time. WB refers to products with global competitiveness in their technology and value. WM refers to products with high consumer preference and sales.

Posco is expanding sales of its WP products to maximize profits, as their returns are 10 percent higher compared to those of general products. Posco’s main WP product is automotive steel.

Posco is currently operating automotive steel manufacturing factories in China, India, Mexico and Thailand, for which construction finished last August. The company also has 26 automotive steel processing centers in 12 countries.

One type of high-quality automotive steel that only Posco has succeeded in mass-producing is twinning-induced plasticity steel, also known as TWIP steel. The product has garnered praise for being a “dream steel” with enhanced strength and workability.

TWIP steel can carry a load of 100 kilograms (220 pounds) per square millimeter, but it is also five times more malleable than other steel products with the same strength, meaning it can be processed into different types of products.

Thanks to the steel’s superior shock absorption, it can be used for bumpers on both the front and back of cars to significantly enhance safety. Rival steel manufacturers have been developing a similar type of steel but have not yet succeeded in mass production.

Another WP product that Posco has developed is hot press formed steel, or HPF. HPF is the result of overcoming difficulties in processing and reshaping strong steel that can hold 150 kilograms per square millimeter.

HPF is mainly used as car pillars, the vertical support on the window that protects passengers from external shock when there is a broadside collision or rollover accident.

Currently, Posco is the only steelmaker in the world that has succeeded in producing the strongest HPF, with an endurance of 200 kilograms per square millimeter.

Source – PR