Hyundai Steel has announced a significant reduction in rebar production at its Incheon plant, suspending operations of its 90-ton electric furnace and associated small rolling mill equipment. This move comes as the South Korean steelmaker responds to weakening domestic construction demand that has impacted the long products market. 

The suspended facilities account for approximately 80,000-90,000 tons of annual rebar production capacity, reducing the plant's total capacity from 1.55 million tons to 700,000 tons. The company will maintain operations at its 70-ton rebar facility, which offers greater flexibility in producing various rebar specifications. 

Hyundai Steel emphasized that no immediate layoffs are planned, with affected workers to be reassigned through consultations with the labor union as part of efforts to secure long-term competitiveness in the challenging market environment.