Devaluation of won allows South Korean exporters to cut HRC prices

摘要

South Korean exporters of HR coils still face weak demand in the middle of May. Foreign buyers fear further price decline amid stiff competition and falling scrap tags in the region ($5-10/t down in a week). However, steelmakers have managed to make cuts without any negative impact on export trading thanks to the devaluation of the national currency (1.4% over the week).