China’s steel exports to S. Korea gain momentum
Korea Iron and Steel Association disclosed that South Korea imported 3.45 million tons of steel products from China during the January-May 2005 period, an increase of 187.9% year on year. However, South Korea's steel exports to China declined 12.6% year on year to 2.01 million tons in the first five months of the year. For the first five months of 2005, South Korea's total steel imports rose 17% year on year to 8.59 million tons while steel exports increased 6.1% to 6.7 million tons. Steel imports from all other countries, including Japan, Europe and Brazil saw a decline. On the other hand, South Korea's steel exports to other countries strengthened.