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Dongkuk Steel has suspended operations at its Incheon Plant's electric arc furnace due to soaring electricity costs and declining demand, with production rates dropping to 50-60%. The company's rebar output fell from 2.16 million tons in 2021 to 1.5 million tons last year, and it plans to halt all production lines from December 22 to 31 amid rising manufacturing costs and low sales prices. The domestic steel industry is grappling with a 17% drop in rebar sales from 2022 to 2023 and a lack of government support.