S. Korea’s steel demand to recover in H2
POSCO's Research Institute POSRI expects South
Korea's domestic steel demand to recover after the first half of this year.
POSRI indicated that South
Korea's nominal steel
consumption, including inventories in the first half of this year, will increase 0.8 percent year on year to 24.1 million metric tons.
POSRI expects nominal steel
consumption to fall 1.4 percent year on year to 11.54 million metric tons in the first three months. However, steel
consumption will increase 3 percent year on year to 12.58 million metric tons in the second quarter.
In the latter of 2006, nominal steel
consumption is expected to increase 4 percent year on year to 23.71 million metric tons. Accordingly, the annual
consumption will amount to 47.83 million metric tons, up 2.4 percent from a year earlier.