Sales of rebar in the South Korean domestic market increased significantly last week, with rebar inventory at local steel producers accordingly becoming scarce for certain specifications, namely, 10 mm, 13 mm and 22 mm, as reported by Korea Metal Journal.
Daily rebar sales in the domestic market in South Korea increased to about 40,000 metric tons last week, up from the previous week's 35,000 metric tons, while local steelmakers' aggregate rebar inventory amounted to around 230,000 metric tons towards the end of last week, compared with 330,000 metric tons at the beginning of the current month.
The resumption of order placement by Korea Land and Housing Corporation for remodeling and reconstruction of apartment buildings has contributed to the increase in domestic demand for rebar in South Korea.