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South Korean hot-rolled steel suppliers keep offers for Dec- The 20th China (Guangzhou) Int’l Plate metal, Bar, wire, Metal Processing &Setting Equipment Exhibition
12/25/2018 金屬板材展-棒材-線(xiàn)材展 -plate metal expo-wire expo |
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At present, main South Korean hot-rolled steel mills still hold up December price, including POSCO, Hyundai Steel and other steel mills. Though domestic and foreign markets were harsh, domestic steel mills considered production cost increased since the fourth quarter, and didn''t tend to drop the offer.
If the price was cut lower now, the market rate will drop further and much faster. On the other hand, current market demand was sluggish, and China suppliers continuously sold at low prices.
Since this October, price gap was declined significantly, which caused South Korean hot-rolled steel dealers to be under downward pressure. The relevant dealers were not optimistic about next year''s demand. In the short term, South Korean mills will certainly face sales difficulties. In particular, some dealers were caught in capital turnover difficulties, and continued to sell inventory, resulting in loose market prices.
Major manufacturers such as South Korean auto industry, construction industry and home appliance industry, had weak demand for hot-rolled steel, and market participants said that transaction volume of hot-rolled steel were decreased by about 10-20%.
金屬板材展-線(xiàn)材展-金屬加工展-2019第二十屆廣州國(guó)際金屬板材展—全球三大金屬展之一巨浪展覽
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