Both exports and imports of hot rolled coils (HRC) were sluggish in South Korea in the month of October.
According to data from the Korea Iron and Steel Association (KOSA), in October this year South Korea exported 556,849 mt of HRC and imported 299,034 mt of the same product, down 23.3 percent and 35.5 percent respectively from September. Such a sluggish performance in October resulted from weak demand for the products at home and abroad, according to market observers.
In an attempt to make up for falls in their sales at home, local HRC producers multiplied their efforts to increase their outbound shipments of HRC in October, but in vain due anemic demand in the overseas markets, including Southeast Asia and Europe.