As the imports of Chinese made CR steel sheets increase into Korea, followed by a rise in thick plate and HR coil imports, Korean steelmakers are worried over the prospect of being overtaken by Chinese suppliers in all product areas.steel pipe tube

According to the Korea Iron & Steel Association, the H1 year imports of CR steel sheets from China amounted to 486.9000 tonne, up 23.3% from the same six months last year. This represents about 20% of domestic consumption.steel pipe tube

At this rate it is projected that the figure by the end of the year will be in excess of Mt.

Of this CR steel, the import volume of zinc coated galvanized steel sheets was 331.592k tonne, 7.2% higher than the same period a year ago. Domestically, this product is supplied mainly by POSCO, Hyundai Hysco, and Dongbu Steel. As domestic car makers such as GM Korea are increasing the use of Chinese-made galvanized steel sheets, the import volume has increased rapidly.steel pipe tube

Source - The Korea Economic Daily