POSCO plans to fully utilize hydrogen reduction ironmaking technology by 2050

POSCO recently announced plans to complete the commercialization of HyREX technology by 2030 and convert all POSCO and Guangyang plants to HyREX technology by 2050. HyREX is an advanced technology developed based on the FINEX fluidized bed reactor owned by POSCO Steel HCT600C+ZM steel, and the company is currently accelerating the commercialization of this technology. In July 2022, POSCO signed an agreement with its partner, Pratt Metallurgy, to construct the HyREX facility. According to the plan, the experimental facilities will be completed by 2026, with the aim of confirming the possibility of commercialization, and the commercialization of HyREX technology HCT600C+ZM steel is planned to be completed before 2030.

POSCO plans to replace the existing blast furnace process with HyREX-1 technology at the POSCO plant in 2033, and based on the commercialization of HyREX technology, gradually transform the blast furnace facilities of POSCO and Guangyang plants into hydrogen reduction ironmaking equipment by 2050. These two places will each have three hydrogen reduction ironmaking systems, totaling six hydrogen reduction ironmaking systems.

The goal set by POSCO is to establish a global crude steel production capacity of 52 million tons and achieve sales of 10 trillion Korean won by 2030. To this end, the company actively promotes the establishment of steel production projects overseas, with HCT600C+ZM steel plans to increase the overseas crude steel production capacity from 5 million tons in 2022 to over 10 million tons by 2030. The company plans to establish an automotive steel production line centered around the Karakatop project in Indonesia to ensure dominance in the Southeast Asian market. In India, POSCO will initiate the construction of a low-carbon steel production base and also plans to cooperate with its cold rolling plant in Maharashtra to expand its market share in the Indian market.