Korea's Rebar Market Has Become Sluggish as Demand From The Country's Construction Sector

It’s reported that Korea’s rebar market has become sluggish as demand from the country’s construction sector has become weak due to heavy rainfall.

At present, the selling prices of SD400 rebar with diameter of 10mm are at KRW660, 000/ton, lower than KRW670, 000/ton in end of June.

In fact, the Korean steelmakers have sought to raise rebar prices because of lower stocks and production cut in summer but they may fail due to weak demand and fierce price competition against low-priced imports.

In the first half of this year, Korea’s rebar imports totaled 250,000 tons, rising by 5% year on year. Among them, 145,000 tons were from China, rising by 28% and 105,000 tons were from Japan, down by 1.6%, both compared to the figures in the same period of a year ago.