South Korean flat steel producers cut prices unofficially

摘要

The situation in the South Korean flats market has become rather unfavourable: demand is very sluggish while inventories aregrowing. Besides, the interstate conflict with North Korea has resulted in the national currency devaluation, and both sellers andbuyers remain tense as further developments are uncertain. Nevertheless, local producers of flats have decided not to reviseofficial domestic prices downwards preferring to grant substantial discounts unofficially.