Korea’s rebar imports in January jumped 43% from last December to 75,000 tonnes, the highest monthly total since October 2008. The reason of rising import is believed that consumer buying during February-March will be active in preparation for spring construction starts.
Meanwhile, rebar stocks of Korea’s seven major producers dropped to 220,000-230,000 tonnes, a decrease of 120,000-130,000 tonnes from early January. Also, domestic rebar output is expected to decline this month due to the fewer working days and maintenance plans by most local makers. February’s output is estimated to stay around 600,000 tonnes compared with January’s 740,000-750,000 tonnes.
