Posted on 08 Sep 2015
South Korea’s crude steel production down by 4% in Jun-July
According to the data from Korea Iron and Steel Association data
released last week, the country’s crude steel output in July only rose
1% month on month, but down by 0.7% year on year to 5.92 million tons.
During the first seven months, South Korea’s total steel production dropped by 4% year on year to 40.45 million tons.
Meanwhile, the crude steel production from Posco and Hyundai Steel in
July increased by 4% moth on month to 4.13 million tons. Those for the
rebar output from small scale mills rose, due to improve demand from
local construction sector, but demand for beams and wire rodd did not
pick up.
The country’s largest steelmaker Posco also reported that its forecast
of crude steel production capacity this year will increase 100,000 tons
to 37.8 million tons from last year.
