South Korean mills’ domestic rebar sales down 17 percent in Nov from Oct

According to data recently released by the Korea Iron and Steel Association (KOSA), in November this year outputs and domestic sales of South Korean rebar producers failed to reach the targeted volumes.
 
The domestic rebar sales volumes of the seven main rebar producers in South Korea totaled 700,000 mt in November, down 17 percent month on month., The targeted domestic sales volume for the month in question was 750,000 mt. In addition, the average aggregate daily rebar output of the seven producers decreased from 50,000 mt in October to 27,000 mt in November.
 
Meanwhile, at the start of the current month the combined rebar inventory of the seven mills in question amounted to 180,000 mt, lower than the normal level.
 
Taking into account seasonally weak demand and anticipated suspensions of activity in the domestic construction sector at the end of December, the targeted rebar sales volume of the seven producers in December is 693,000 mt.