POSRI: South Korean HRC demand to rise two percent in 2012

Monday, 13 February 2012 17:25:13 (GMT+3)   |  
       

POSRI, the research institute of South Korean steelmaker POSCO, has stated that it expects hot rolled coil (HRC) demand in the South Korean domestic market to rise by two percent year on year to 33.6 million mt in 2012.
 
POSRI stated that the key customers for domestic production HRC, including the automotive industry, cold rolled mills and steel tube producers, are expected to continue to show reduced demand for HRC in the first half of the year, followed by an improvement in the second half. It is expected that South Korean domestic auto output will total 4.7 million units in 2012, up one percent year on year.
 
As for exports, following a 35 percent year-on-year increase in South Korea's HRC exports in 2011 to 6.4 million mt, HRC export volumes in 2012 are foreseen to rise to 6.5 million mt. However, due to the global financial uncertainty, HRC demand from Southeast Asia and Japan may see a decrease.
 
Meanwhile, South Korea's HRC imports are expected to see a six percent year-on-year decrease to 4.9 million mt in 2012 due to increased domestic HRC output and sluggish demand from end-users. In 2012, South Korea's HRC output is expected to reach 35.2 million mt.

Similar articles

Stocks of main finished steel products in China down 0.6 percent in mid-March

25 Mar | Steel News

US flats source believe HRC prices are “at or near the bottom”

22 Mar | Flats and Slab

Romania’s sole flats mill cuts HRC prices, raises HDG and PPGI prices

22 Mar | Flats and Slab

Flat steel prices in local Taiwanese market - week 12, 2024

21 Mar | Flats and Slab

US HRC prices still ticking downward, prices expected to bottom this month

15 Mar | Flats and Slab

Flat steel prices in local Taiwanese market - week 11, 2024

14 Mar | Flats and Slab

Stocks of main finished steel products in China up 4.0 percent in early March

14 Mar | Steel News

Baosteel keeps local HRC prices stable for April

12 Mar | Flats and Slab

US flats mills take primes down $60-$70/gt, announce HRC price increase

08 Mar | Flats and Slab

Flat steel prices in local Taiwanese market - week 10, 2024

07 Mar | Flats and Slab