Korean rebar market remains strong, because the strong demand for construction industry, builders generally push the project development before winter.

According to the lastest data of Korea Iron and Steel Association, in the first eight months, the new orders volume from construction industry reached 94 trillion won (USD 82 billion), an increase of 40% over last year, in which the order from private businesses is 65 trillion won, increasing 59%.

Last week, Hyundai Steel and Korea Construction Procurement Association reached a contract price of rebar in fourth quarter, 10mmSD400 rebar price is 585,000 won / ton ($ 511 / ton), compared with the third quarter fell by 15,000 won / ton. Market participants said that the contract price decline was mainly due to falling of scrap prices, rather than a drop in demand.

                                                XINSTEEL NEWS