Tel :
Tel :
According to its third-quarter financial report released in November, Malaysian steel manufacturers are optimistic about the domestic market, despite the potential increase in costs due to the impending carbon tax. M110-23S Grain oriented electrical steel, Malaysia plans to introduce the carbon tax in 2026, aiming to create a level playing field for green, low-carbon steel manufacturers. The tax revenue will be used to establish a carbon competitiveness fund for steel companies.
Hyundai Steel, a South Korean steelmaker, plans to invest 170 billion won (approximately US$116 million) by 2032 to acquire high-quality scrap steel and enhance its production capacity of low-carbon steelmaking raw materials. According to the Asia Economic Daily, "The plan includes introducing new scrap steel crushing equipment and building scrap steel sorting production lines at its Pohang and Dangjin plants."
In the first phase of the project, the company will invest 22 billion won to build a scrap steel deep processing facility in southern Gyeonggi Province, equipped with crushing, sorting, and refined scrap steel processing systems. M110-23S Grain oriented electrical steel, The project is expected to commence construction in early 2027 and officially begin production in 2028.
Meanwhile, Hyundai Steel is advancing technological research and development to convert conventional scrap steel into high-grade scrap steel. M110-23S Grain oriented electrical steel, The pilot production line for scrap steel sorting and refining at its POSCO plant has entered the operational phase, and the company plans to apply for a national research project in 2026 to further expand its technological research and development and industrialization.
In November of this year, the South Korean National Assembly passed the K-Steel Act, aimed at supporting the development of the domestic steel industry and introducing a series of measures to strengthen the scrap steel supply chain. South Korean steel companies generally welcomed the bill, believing it will help improve scrap steel security and enhance their competitiveness in green smelting.
