Korea's rebar shipment was fairly grown in February, with Korean sales gone well despite affected by the Korea Lunar new year holidays. However, the production and export reversed. The rebar production was down 25.4 percent from January, or 8.1 percent lower than a year ago, totaling 657,965 metric tons, attributable to the shortened working days.
Rebar consumption at the home market however increased slightly, 2.6 percent over a year earlier. The figure conversely represented a 12.1 percent decline totaling 698,524 metric tons in February.
The outcome mixed several factors: the entire sales volume was down on the holidays and abbreviated business days, month on month, but turned out to have risen from a year ago due largely to the warmed weather conditions.
Korea’s rebar exports extended a little in February, amounting to 1,048 metric tons, but down 57.3 percent a year ago, while the Korean inventory booked more or less than 300,000 tons at the end of the month.
Meanwhile, Korea’s rebar output produced over the first two months this year decreased by 6.9 percent a year ago, reaching 1,539,508 metric tons, while Korean need improved 4 percent year on year to 1,492,983 metric tons respectively. Some say that the Korean rebar consumption constraints may be attributed to the advance reflection of the seasonal boost for March.
Source: Steel&Metal News |
