S. Korea's steel rod sales tumble in February

S. Korea’s steel rod sales tumble in February

The Korea Iron and Steel Association disclosed that the country's domestic steel rod sales fell 34.8% year on year to 521'000 metric tons in February 2005. The ongoing slump in the construction sector and cheap Chinese imports affected the domestic sales. Domestic steel rod sales tumbled 26% year on year to 1.21 million metric tons in the first two months of 2005. However, exports of steel rods showed two-fold increase to 70'000 metric tons in February.