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South Korean steel demand dull in H2, 2012
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The Korea Chamber of Commerce & Industry (KCCI) predicts that the steel industry in South Korea would be dull in the second half of 2012 because the steel demand for construction and ship building has come to a standstill.
The total export volume of ship building in the first five months of 2012 in South Korea was about US$2.12 billion.
It is expected that the export volume in second half of 2012 would tumble by 28% year on year. The ship building industry seems to be difficult to revive if the European debt crisis keeps expanding.
However, KCCI estimates the auto industry will keep robust on export up to 1.6 million units in the second half of 2012, supporting the slack steel market demand.
News Date
7/13/2012 10:13:56 AM
reported by
Vince
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