Tel : 0086-0371-86172891
Tel : 0086-0371-86172891
Huachipato, Chile's S355J2 steel largest steel plant, announced the closure of its last blast furnace, officially ending 74 years of operation. The closure marks the indefinite cessation of steel production at the factory, although the company will continue its mining, port, and logistics operations. Before making the decision to shut down the blast furnace, the company had been in a financial loss state for many years, and the surge in imported resources exacerbated the increase in the company's deficit. A month ago, due to deteriorating financial conditions, Vachipato announced plans to indefinitely shut down production. According to reports, from 2019 to the first quarter of 2024, this steel manufacturer suffered losses of over 700 million US dollars. Huachipato has always been one of the important leaders in the Chilean S355J2 steel steel industry, holding a market share of 19%. The government shutdown is expected to directly affect at least 2700 workers and impact over 1000 local small and medium-sized enterprises, potentially raising the unemployment S355J2 steel rate in the region to 11%.
