In 2008 South Korea imported 1,497,450 mt of rebar, marking a new historical record. For the respective quarters, the country's rebar imports came to 379,206 mt, 566,538 mt, 378,487 mt and 173,219 mt. This strong rise in imports was due to the increased stocking activity on the part of many users as price levels soared.
From July to October last year, South Korea's average import price for rebar was $950-990/mt. Meanwhile, the annual average import price hit a new historical high at $823/mt, compared to the 2007 average price of $491/mt