South Korean section steel market sluggish
2016-06-14 08:58:44 [Print]
BEIJING (Asian Metal) 14 Jun 16 - Angle steel market in South Korea is running slowly for the time being, lacking the strong support of downstream demand. The mainstream price of angle steel SS400 50mm*50mm*5mm is KRW460,000-480,000/t (USD414-432/t) at this moment. Insiders believe that South Korean section steel market will remain inactive for some time.
A trader in Seoul told Asian Metal that the price of angle steel SS400 50mm*50mm*5mm is KRW480,000/t (USD432/t), fell by KRW15,000(USD14/t) compared with that of two weeks ago.
The source told Asian Metal that the average price of imported steel scarp has fallen by USD30/t since the end of May. Prices of iron ore and other raw material are also on the downward trend. As a result, local producers and trades’ prices have begun to go down recently. He reported a sales volume of 2,000-3,000t in May and predicted that it will close to or a little lower than this level during this month. Currently, he doesn’t hold any stocks for angle steel and is afraid that local market prices will fall further in the remaining days of this month.
A trader in Busan reported to Asian Metal that the price of angle steel SS400 50mm*50mm*5mm is KRW460,000/t (USD414/t), decreased by KRW15,000(USD14/t) compared with that of two weeks ago.
The source confirmed a price decrease amid a dim market. According to him, end users are not active in placing order now when prices are on the downward trend. His current sales volume is 300tpd against 500-600tpd in Q1. Holding an inventory of 15,000-20,000t, he is not confident of the market prospect.
A trader in Seoul told Asian Metal that the price of angle steel SS400 50mm*50mm*5mm is KRW480,000/t (USD432/t), fell by KRW15,000(USD14/t) compared with that of two weeks ago.
The source told Asian Metal that the average price of imported steel scarp has fallen by USD30/t since the end of May. Prices of iron ore and other raw material are also on the downward trend. As a result, local producers and trades’ prices have begun to go down recently. He reported a sales volume of 2,000-3,000t in May and predicted that it will close to or a little lower than this level during this month. Currently, he doesn’t hold any stocks for angle steel and is afraid that local market prices will fall further in the remaining days of this month.
A trader in Busan reported to Asian Metal that the price of angle steel SS400 50mm*50mm*5mm is KRW460,000/t (USD414/t), decreased by KRW15,000(USD14/t) compared with that of two weeks ago.
The source confirmed a price decrease amid a dim market. According to him, end users are not active in placing order now when prices are on the downward trend. His current sales volume is 300tpd against 500-600tpd in Q1. Holding an inventory of 15,000-20,000t, he is not confident of the market prospect.
