China’s steel exports to S. Korea rise in June
Korea Iron and Steel Association (KISA) disclosed that South Korea imported 669'372 metric tons of steel products during June, an increase of 69 percent year on year. KISA indicated that China's shipments accounted for 36 percent of the South Korea's total imports. China's exports to South Korea reached from 1.6 million tons a year earlier to 4.1 million tons in the first half of the year. South Korean major steelmakers POSCO and INI Steel Co. have announced that they will reduce production and prices in order to compete with cheaper Chinese products.