South Korea's steel imports beat a new record in January

South Korea’s steel imports beat a new record in January

As per data released by the Korea Iron and Steel Association (KOSA), South Korea's steel imports broke a record in January. Accordingly, South Korea imported 2.5 million tons of steel, including semi-finished goods such as billets and slabs, in January with an increase of 24.5% compared to December 2003. The increase in steel imports is attributed to the soaring international raw material prices combined with growing domestic demand.