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News
According to the Korea Iron and Steel Association data, in October, the Korean rebar imports hit a new high this year, total imports amounted to 71,800 tons, an increase of 55%, growth of 35%. Among them, China imported 70,000 tons the amount of resources, 97% of its total imports.
In October, China imported resources quoted at $460 / ton (CFR), although ring up more than $ 3 / ton, but still below the $ 510 in February / ton (CFR), has a price advantage in the Korean market, while in South Korea 10mm SD400 steel rebar spot prices for ten thousand won 58-59 / tonne (US $ 549-558 / ton), the chain fell 20,000 won / tonne ($ 9 / t). Given the weak Korean construction and ultra-than-expected surge in imported resources, would not be expected at the end of the rebar market significantly improved.
In addition, from January to October these 10 months, Korea's total imports of 530,900 tons of rebar, up by 36%, Chinese imports of resources for 462,600 tons, an increase of 96%.