South Korea's steel inventory down in February

South Korea’s steel inventory down in February

Based on the data released by Korea Iron and Steel Association (KOSA), South Korea's steel plate inventory decreased by 11% in February due to increasing international raw material prices and domestic steel product supply shortage. Accordingly, inventory of six steel plate products, including hot rolled steel plates and cold rolled steel plates, amounted to 518'000 mts by the end of February, down by 11% compared to 582'000 mts at the end of January. Cold rolled steel plate inventory diminished from 148'000 mts to 114'000 mts while hot rolled steel plate inventory dropped from 188'000 mts to 156'000 mts. Stocks of hot dipped galvanized iron decreased to 74'000 mts from 85'000 mts. Inventory of electrolytic galvanized iron and color coated plates also dipped by 7'000 mts and 2'000 mts respectively.