Tag: South Korea: Steel consumption likely to contract amid economic slowdown in H2

South Korea’s steel consumption in the second half (H2) of the current year is likely to contract compared to H1 because of economic slowdown and the impact of inflation. However, the annual steel consumption is likely to increase by 1-2% to 55-56 million tonnes (mnt). Export volumes fell 5% to 13 mnt in the first…