In January, Korean steel tire cord consumption was largely squeezed by a tire production contraction. In January, Korea’s tire cord production shed 3.2 percent from a year ago seen 12,398 metric tons to 12,000 tons, while the entire shipment tonnage inched down 1.4 percent from 11,293 metric tons to 11,136 metric tons each, Korea Iron and Steel Association released.
The Korean consumption in particular decreased significantly, down 61.7 percent a year ago from 4,647 metric tons to 1,779 metric tons, which was directly related to the Korean tire production slippage, over a couple of years past. For instance, in 2014, tire production maintained 99,714 units before a drop in 2017, posting at last 89,939 units last year.
On the contrary, steel tire cord exports could maintain its routine level of 9537 metric tons in January, 40.8 percent larger than a year ago, 6,646 metric tons. The export improvement traded off the contraction of the Korean consumption. The inventory shed a little of 1.9 percent from 35,253 metric tons to 34,686 metric tons.
Source: Steel&Metal News |
