South Korean Steel Mills Plans to Take Measures on Chinese Special Steel Bar

Resource from: CBCC Likes:132

Jul 25,2013

In South Korea’s special steel bars market, imported resources are a taking an increasingly higher proportion in the whole market, thus local producers are very concerned about this with the particular influx of competitive products from China. Data from Korea Iron and Steel Association show that this nation imported 446, 499 tonnes of special steel bars in Jan.-Jun., 2013, an increment of 5.7% year on year. Among them, 387, 032 tonnes of products came from China, accounting for 87% in total imports. However, the question comes as low-prices steel products from China has dragged down the trading price in Korean market. In June 2013, the imported special steel bar price have contracted USD 80 to USD 90 per tonne, sliding to USD 610 to USD 620 per tonne from USD 700 per tonne seen in March this year. For example, the biggest price spread of S45C special steel bar between that imported from China and produced in S. Korea has reached 150,000 KRW in recent days, pushing local buyers to imported resources with improving quality. To cope with competitiveness, Korean steel mills provided some discount for its distributors but still have to face the issue.

(CBCC)

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