According to data released by the Korea Iron & Steel Association (KOSA), Korea’s output of heavy plates totaled 671,000 tons in March, decreasing by 4% month on month and slumping by 31% year on year. In the first quarter of this year, the country’s production of heavy plates decreased by 23% year on year to 2.14 million tons.
It’s analyzed that the decreased purchases from shipbuilding and construction sectors, the two major downstream end users in Korea made the local steelmakers Posco and Dongkuk Steel Mill cut production. Besides, the Korean plate consumers imported 481,600 tons in the first three months of this year, decreasing by 49% year on year.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=64422&division=A2
