South Korea: Key steel mills report 13% drop in heavy plate sales in Feb’22

POSCO, Hyundai Steel and Dongkuk Steel have reported a 13% drop in heavy plate sales to a combined 702,000 tonnes (t) in Feb’22. However, on an annualised basis, sales inched up marginally by 0.6% as against Feb’21.

Domestic sales stood at 562,000 t, down by 12.5% m-o-m, but increased 12.2% y-o-y. Exports stood at 140,000 t, a decrease of 17% m-o-m and 29% y-o-y.

Cumulative Jan-Feb sales

During Jan-Feb, cumulative heavy plate sales jumped 3.6% to 1.512 million tonnes (mnt) in comparison with the corresponding period last year.

In the domestic market, sales volumes rose 15.4% y-o-y to 1.204 mnt, while exports stood at 308,000 t, down 26% y-o-y during the period.

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