Korea’s rebar import was about 64,000 tons in June, a low since February this year. Chinese materials in particular marked a lowest import of 26,000 tons. According to Korea Iron and Steel Association, Korea’s June import of rebar totaled 64,843tons, down 9 percent from May, or increasing 74.7 percent a year ago. Chinese rebar as well as Japanese and Taiwanese materials soared from a year ago.
In June Chinese rebar import into the Korean market reduced 50.8 percent to 26,738 tons, but increasing 71.5 percent a year ago. Since January this this, rebar import from China registered over 40,000 tons every month, but downed to 20,000 tons level in June. The drops seemed to be due to Chinese mills’ higher export offer prices and stronger foreign exchange rate. But, by June, Chinese rebar import quantities totaled 296,143 tons, with a 96.5 percent year to year hike, apparently owing to the lower level of export offer prices by Chinese mills. In contrast, import from Japan decreased in terms of the accumulative tonnage by June, down 20.8 percent a year ago to 103,707 tons. Korea’s total rebar import over the first half hiked 37.1 percent reaching 446,418 tons.
Meanwhile, rebar export was 5,909 tons in June, down 1.2 percent from May, but up 6.6 percent a year ago. The unit price of rebar import averaged $546 a ton in June, $11 a ton higher than May, while Japanese materials posted $567 a ton, up $11 a ton from May, and Taiwanese at $527 a ton, down $2 a ton around from the preceding month.
Source: Steel&Metal News |
