According to the Korea Iron and Steel Association data, in May South Korea's steel imports down by 11% year on year to 1.618 million tons, down 11 % month on month, fallen for two consecutive months.

From the main imports source, South Korea imported 986,000 tons of steel from China in May, down by 11% month on month; steel imports from Japan 438,000 tons, down by 29%.

South Korean steel imports decline was mainly due to weak demand, since increase of steel imports in March and April, the local steel market inventory is still at a high level.

From January to May Korean steel imports fall by 5% to 9.045 million tons year on year, of which imports of hot rolled coil down by 3% to 2.46 million tons, imports of rebar fell by 14% to 0.299 million tonnes.

                                                                                                     XINSTEEL NEWS