South Korea ends the regulation on steel exports

South Korea ends the regulation on steel exports

South Korean Ministry of Commerce has announced that it determined to stop monitoring exports of certain steel products due to stabilized raw material availability in domestic market. As previously reported by SteelOrbis, S. Korean Ministry of Commerce in March 2004 implemented restriction on steel scrap and bar exports upon the request of domestic industry due to the shortage of subject materials in Korean market. In a recent statement, Ministry of Commerce announced that since the supply levels are adequate, they have determined to stop monitoring exports of steel scrap and bar.