S. Korea’s steel demand to show modest rise
Korea Iron and Steel Association said that the country's domestic demand for steel products is expected to increase 2% year on year to 63.6 million tons in 2005. Economic recovery in South Korea and the government's stimulus package play a significant role in the modest rise. Steel products exports are expected to increase 2.2% to 15.4 million tons this year while imports are projected to fall 1.3% to 17.5 million tons. In addition, steel products output will likely to grow 2.9% year on year to 56.3 million tons in 2005.