Hyundai Steel Co. has no plans to cut production further despite weak steel demand due to the coronavirus pandemic, the company's president said. Earlier this year, South Korea's second largest steelmaker reduced its EN 10025 S355ML/NL annual production of hot rolled coils from 1 million tons previously to 700 thousand tons per year for EAFs. A turnaround is expected after the third quarter of this year. In the three months to March 31, Hyundai Steel had a net loss of 88.6 billion won ( million), up from 94.4 trillion won in net profit in the same period last year.
What does steel S460N stand for? the letter S is short for Structural steel. The number 460 stand for the minimum yield strength is 460MPa for S460N steel. The character N is for Normalised rolling when produce in mill. For steel plates S460N, our minimum order quantity shall be above 10 tons for each thickness. For EN 10025 S355ML/NL, S460N hot rolled steel plate specification available, our plate thickness ranges from 8mm to 200mm.
The main competitive means adopted by major domestic ports are to expand ports, build deep-water berths and channels, improve service quality to reduce the comprehensive cost of customers, and at the same time, to improve competitive advantage, we should also take appropriate measures to reduce relevant costs and prices.
In April 2018, our Philiphine customer purchased 1008 Tons API5 L Gr.B ERW&Q345B SMLS pipe EN 10025 S355ML/NL for offshore oildfield resources drilling project. This is a regular demand almost two month, and we has been cooperated more than three times, totally around 2100 tons steel pipe since 2015 year.
According to a statistical study, Iran has decided to produce 33 million tons of steel in its calendar year (from March 20, 2020). A study of the performance of the mining sector affiliated to the mining and mining development and transformation organization of Iran (imidro) in the first month of the year (March 20 to April 20) shows that this month produced 5.4% of the 33 million tons produced at the end of this year. In the first month of this year, relevant enterprises in the country produced about 1797927 tons of steel, including EN 10025 S355ML/NL, an increase of 1% over the same period last year. Iran has become a leading country in the field of steel production and export in the Middle East. Iran's steel industry has more than half a century of experience and is a leader in steel production and export in the Middle East.
Our company has been established for 20 years and has accumulated rich experience in steel products. At the same time, it is often exported to Southeast Asia, Africa, South America and other countries. So you can rest assured that our EN 10025 S355ML/NL products and our prices are very favorable. Because we have our own factory, there is no other cost, we can also carry out machining and so on.
In order to better develop the international steel market and make the steel products trade more prosperous at home and abroad, the company has a number of professional talents who love their posts and are proficient in their business. The company has always been adhering to the "service first, reputation first, customer first, make friends" business purpose, is willing to work together with domestic and foreign customers!