In January, Korea’s import of hard steel wire rod rocketed while exports were vice versa. According to Korea Iron and Steel Association, the January import of hard steel wire rod amounted to 5,450 metric tons, jumping as much as 97.2 percent a year ago seen 2,763 metric tons. Of which, import from China was 2,964 metric tons, rising 274.2 percent from 792 metric tons over a year earlier. But Chinese imports downed 38.2 percent month on month from 4,793 metric tons.
As regards export, a 34.7 percent drop was recorded totaling 3,056 metric tons while a year ago 4,680 metric tons were reported. The steepest decline was seen in exports headed to China, totaling 646 metric tons in January, down 72.9 percent from 2,838 metric tons a year ago. On the other hand, export shipment for Vietnam soared 83.2 percent to 577 metric tons, approaching close to the shipment tonnage destined for Chinese market.
The industry people said that after the Spring Festival holiday period the prices start ramping up, but still remain cheaper all the way compared with the domestic product, attracting domestic users continuously.
Source: Steel&Metal News |
