Chinese re-bars even at the strong price of 450 dollars/ton are making inroads into the domestic market at a rapid speed. Thanks to price competitiveness by strong Korean currency, those are threatening the domestic market. The biggest supplying country Japan is beaten by China in the domestic market. The imported re-bars are greatly influencing the domestic market where the demand significantly decreased. According the steel import industry, the contract price with Chinese mills for shipment at end of April through early May exceeded 450 dollars /ton CFR Korean port. That price is more than 40 dollars /ton increase within a month. The upward trend seems to continue for the time being, since Chinese mills attribute the price increase to iron ore price increase.
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