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South Korean steel bar internal sales volume to decrease in 2019 due to sluggish construction industry-20
19 China(Guangzhou)Int’l Metal & Metallurgy Exhibition-metal exhibition
11/1/2018 金属展-冶金展-钢铁展-steel expo-metal &metallurgy expo |
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According to the statistics, the internal sales volume of South Korean steel bar totaled around 21.3 million tons this year, down by 9% compared to last year. POSCO Research Institute (POSRI) estimated that the internal sales volume of steel bar will reduce by 0.1% year on year next year due to the sluggish construction industry in South Korea.
Besides, the demand in South Korean real estate was also not active, so the internal sales volume of rebar was expected to fall slightly next year.
However, South Korean wire rod exports had year-on-year increase of 11.9% to 3.2 million tons this year, and the exports were predicted to reach 3.26 million tons next year.
As for the imports, South Korea imported around 3.1 million tons of wire rod this year, sharply decreasing by 37.2% compared to the previous year. The decrease was mainly due to the weak domestic market, and the imports were expected to hit a new low at 2.97 million tons after 2009.
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