South Korea: Rebar production, sales increase y-o-y in CY’21

Rebar production in South Korea stood at around 10.32 million tonnes (mnt) in CY’21, up 10% against 9.41 mnt in CY’20.

Meanwhile, total sales of rebar rose by 9% to 10.25 mnt in CY’21 in comparison with 9.44 mnt a year ago. Out of which:

• Domestic sales accounted for 10.21 mnt, an increase of almost 9% against 9.40 mnt in the previous year.
• Exports stood at 34,353 tonnes (t), down 19% against 42,170 t in CY’20.

The ratio of rebar production and sales have exceeded 100% since CY’19. This means that since CY’19, production volumes have been slightly higher than sales, which shows that rebar manufacturers have been keeping a balance in supply and demand.

It may be noted that, on a semi-annual basis, production and sales performance in H2CY’21 was better than H1CY’21.

South Korea’s domestic demand for rebar including imports is about 11.5 mnt. Furthermore, steelmakers are expecting a slight increase in domestic rebar demand in CY’22 compared to the last year.

Note: This article has been published in accordance with an article exchanged agreement between SteelDaily and SteelMint.