SOUTH KOREA STEEL MARKET ROUNDUP FROM
MEPS INTERNATIONAL LTD
South Korean hot rolled coil selling figures increased, in
March, according to MEPS. This follows a rise in raw material costs and
declining import volumes.
An uptick in domestic hot rolled plate transaction values was noted, despite
weak end-user demand. The inflow of foreign material, in January, fell by 18
Cold rolled coil selling figures advanced significantly in March. Hyundai Steel
has recently announced a list price rise of KRW30,000 per tonne. Similarly,
coated coil values increased sharply, month-on-month. Imports from China
continued to escalate.
There was little change in H-beam prices, in South Korea, month-on-month. Low
priced foreign material and sluggish demand from key consuming placed negative
pressure on domestic selling figures. However, local producers are attempting to
raise prices following the recent uptick in scrap costs.
Steel Review - March 2016 Issue
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