Korea Imported 100,600 Tons of Heavy Plates in February,Slumping by 69% Year on Year

According to statistics released by the Korea Iron & Steel Association (KOSA), Korea imported 100,600 tons of heavy plates in February, slumping by 69% year on year.

It’s analyzed that weak demand for the Chinese materials from the Korean shipbuilding and construction sectors was the main reason to cause the country’s heavy plate imports plunge in February.

Korean shipbuilders’ received orders will rise by 12% year on year to 13.7 million compensated gross tons this year, according to data released by the Posco Research Institute.

However, the total volume of vessels delivered would be at 28.3 million compensated gross tons this year, falling by 10% from a year ago.

In February, the heavy plates exported from China to Korean totaled 57,400 tons, decreasing by 69%; those from Japan were at 41.,500 tons, falling by 71%, both compared to the figures in a the same period of a year ago.