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South Korea imports 60% of Steel from China during March
Apr 13, 2016 03:16 GMT Source:Scrap Register
SOUTH KOREA April 12 2016 3:40 PM
SEOUL (Scrap Register): South Korea has imported its 60% of steel from China during March to meet the domestic demand.
According to the Korea Iron & Steel Association, South Korea has imported a total of 2.03 million tons of steel during March including 1.29 million tons from China, an increase of 6.7% from a year ago.
South Korea's steel reinforcement imports from China spiked 150% year-on-year to 140,000 tons during March mainly due to local builders pushing to stock up on the key construction material ahead of an expected increase in construction.
The latest data comes amid worries that low-priced steel materials imported from China could hurt domestic steel-making companies.