POSCO Research Institute (POSRI) disclosed that the country's domestic steel
consumption, including long and flat products, is expected to rise slightly from 47.22 million tons in 2004 to 47.23 million tons in 2005.
The slowdown in major steel-consuming industries such as
construction and
automotive affects the steel
consumption growth.
On the other hand, South
Korea's economic recovery can push the country's steel demand early next year, added POSRI.
POSRI expects steel sales to increase 2.2% year on year in the first half of 2006. Furthermore, the demand is projected to reach 11.3 million tons in the first quarter and 12.4 million tons in the second quarter.