Inventories of hot rolled coil (HRC) at the main South Korean ports increased in the second week of January, according to a report by South Korea-based news agency Yonhap News.
In the second week of January, heavy plate inventories at the ports of Incheon, Pohang and Busan in South Korea remained at the same level as in the last week of December 2011 at 142,000 mt, while HRC inventories at these three ports during the week in question totaled 91,000 mt, 10,000 mt more than in the last week of December. In order to respond to the anticipated peak season for sales in March, importers have increased their booking activities for the products in question. Accordingly, after mid-February, inventory levels are expected to increase significantly.