Hyundai Steel announces successful completion of work on new high-strength steel grade

South Korean steel company Hyundai Steel announced on Friday that it has successfully launched a new high-strength steel grade, which began development in 2012.

According to the company, rolled steel will become a "pearl of metal products" and can be used for the first time in the manufacture of car side surfaces. Previously, it was not possible to achieve high strength and ductility at the same time, but today Hyundai Steel said that the new steel will be one and a half times stronger than before, but will retain a relative elongation of more than 43 percent.

The company noted that, as a rule, new steel grades, from their appearance to use in a car, go through a long way of technology development, which is more than 10 years, however, with the new steel, Hyundai engineers managed to keep within three years.

“Until now, Japanese automakers have combined conventional cold-rolled steel and high-strength grades to produce welded car side surfaces. Using only one high-strength steel will be an unprecedented case in the automotive industry and will enable lighter machines from steel, ”Hyundai Steel said.

New South Korean cars, whose bodies will be lighter and stronger than current ones, will hit the road in 2017.

Recall that the automotive industry has become a battleground between high-strength steel and aluminum, which are used by engineers to develop new lightweight versions of cars. Until now, aluminum and carbon were the main materials in the production of new cars, but with the advent of cheaper solutions using high-strength steel, this may change again.

Hyundai Steel Company is the second largest steel producer in South Korea after Posco. The company is a key supplier of steel products for the Hyundai Motor Company and Kia Motors Corporation.

In the third quarter, the company's consolidated sales in monetary terms decreased by 12 percent due to a drop in global steel prices. Nevertheless, the international rating agency Moodys has affirmed the investment rating of Hyundai Steel at Baa3 with a positive outlook.