South Korea's top steelmaker POSCO has received the Steelie Award for “Innovation of the year” at the 49th annual conference of the World Steel Association (WSA), held in Chicago on October 12 (local time).
POSCO has won the “Innovation of the year” award for the company’s lean duplex stainless steel with super ductility.
In fact, it was the second time for POSCO. In 2012, POSCO won the same award for its unique PBC-EV (POSCO Body Concept-Electric Vehicle) technology at the 46th annual conference of the WSA.
Lean duplex stainless steel with super ductility compare well with other steel grade stainless steel in terms of corrosion resistance and formability, but is cheaper than them because it contains less amounts of high-cost alloying elements such as nickel and molybdenum.
POSCO produces its lean duplex stainless steel with super ductility, using its unique strip-casting process, called ‘poStrip.’
In 2009, POSCO embarked on the development of lean duplex stainless steel with super ductility. Having gone through quality improvement and optimization processes, POSCO’s lean duplex stainless steel with super ductility went into mass production in September last year.
In 2010, POSCO also won the WSA’s Steelie Award for sustainability.
