South Korea: POSCO, Hyundai Steel’s domestic HRC sales rise to 5-year high in H1CY’26

• Anti-dumping duties on HRC imports boost mills’ domestic market share
• Exports decline further amid rising global protectionism, US tariff policies

SteelDaily: South Korea’s provisional anti-dumping duties on hot-rolled coil (HRC) imports from China and Japan are helping domestic steelmakers regain market share, with POSCO and Hyundai Steel recording their strongest first-half domestic HRC sales in five years even as exports weakened.

According to data compiled by SteelDaily, combined merchant HRC sales of these two mills reached 6.05 million tonnes (mnt) in January-June 2026 (H1CY’26), down 0.2% y-o-y, effectively matching the level recorded a year earlier.

Compared with the second half of 2025, when sales totalled 5.805mnt, volumes increased by 4.2%. It was only the third half-year period since CY’20 in which combined sales exceeded 6 mnt, following H2CY’20 (6.527 mnt) and H1CY’25 (6.065 mnt).

According to BigMint data, South Korea’s imports of HRCs and plates were down by 24% y-o-y in January-May at 1.45 mnt. Meanwhile, South Korea’s exports of the same stood at 3.3 mnt, down by 13% y-o-y.

Domestic sales reach highest level since H2CY’21

Domestic sales continued to strengthen during the first half. Combined domestic HRC sales totalled 3.735 mnt, up 2.5% y-o-y and 16.4% higher than in H2CY’25. This was the highest domestic sales volume since H2CY’21, when sales reached 3.82 mnt.

The increase is attributed to the continued substitution of imported HRC with domestically produced material following a decline in imports, coupled with the impact of the provisional anti-dumping duties imposed on Chinese and Japanese HRC late last year. The measures encouraged continued purchasing by end-users and rerolling mills.

Exports weaken amid deteriorating trade environment

Exports moved lower during H1CY’26. Combined export shipments totalled 2.315 mnt, down 4.3% y-o-y and 10.8% lower than in H2CY’25.

The decline reflects increasingly difficult export conditions caused by rising global protectionism, US steel tariff policies, and expanding import restrictions in major overseas markets.

As a result, domestic sales accounted for 61.7% of total HRC sales in H1CY’26, up from 60.1% in H1CY’25 and 55.3% in H2CY’25.

Production affected by temporary operational issues

Merchant HRC production totalled 5.98 mnt during H1CY’26, down 1.3% y-o-y. However, production was affected by scheduled major maintenance at POSCO’s main hot strip mill and blast furnace operating issues at Hyundai Steel. Industry sources believe output would have exceeded normal annual levels had these temporary disruptions not occurred.

Sales remain firm in Jun’26

Merchant HRC production reached 1.03 mnt in June, up 1.5% from May. Sales rose faster, by 4.5% m-o-m to 1.035 mnt.

Domestic sales totalled 665,000 tonnes (t), exceeding 600,000 t for the fourth consecutive month, indicating sustained strength in the local market.

Exports increased from the previous month to 370,000 t, although shipments remained lower y-o-y.

Note: This article is published as part of a content exchange agreement between SteelDaily and BigMint.