Primetals Technologies to Modernize KG Steel's Cold Rolling Mill in South Korea

South Korean steel casting producer Hankook Steel has received a new order worth KRW 2.6 billion from Samsung Heavy Industries for large-scale steel castings to be used in shipbuilding, covering heavy casting components for hull structures across roughly 12 vessels. The order falls under a KRW 11.7 billion framework agreement signed in December 2025 for 47 vessels including LNG carriers and container ships; with prior orders of KRW 3.7 billion (Dec 2025) and KRW 3.1 billion (Apr 2026), total confirmed contracts under the framework now reach KRW 9.4 billion. Hankook's order backlog is up about 30% versus end-2025.

[Indonesia] While wire rod and billet prices have shown slightly increase movement, HRC prices have remained largely stagnant, holding steady at around 510 USD/ton FOB. This can be attributed to a scarcity of bids and generally weak demand, as buyers increasingly look toward alternative suppliers in India, China, and Vietnam, where offers are more price-competitive. Despite this pressure, Indonesian mills remain reluctant to lower their prices further, constrained by persistently high production costs and other cost-related pressures.

Parliament approved the legislation on 13 August. The Bill will take effect once it receives the President’s assent.