A blaze hit Young Poong’s Seokpo zinc smelter in North Gyeongsang province on Thursday (July 9) at 12:36 local time. Originating in a sulphuric acid production unit, the fire triggered a level-one emergency response over toxic gas concerns. Firefighters extinguished the flames within an hour, and no casualties or leaks developed.
Although Young Poong said core zinc lines remain uninterrupted, potential curbs on gas treatment and roasting operations created supply fears. This facility, the world’s sixth-largest, annually produces 400,000 tons of zinc ingots and 728,000 tons of sulphuric acid, a byproduct already scarce due to Middle East conflicts.
Consequently, London Metal Exchange (LME) zinc prices surged by 3.4% to US$3,638 per ton. Further output drops at this site could push the global market into deficit.