In the United States, a modest upturn in sales activity was noted, for both hot rolled coil and plate, this month. Inventories remain a little high but are expected to return to normal levels by April. Transaction values rose, in February, by slightly less than the increases in the mills’ published alloy surcharges. In Japan, activity in the construction sector is decreasing. Distribution business is slow, due to raised inventory levels. Supply chain participants report no sign of price reductions, despite low sales volumes. Building work is subdued, in South Korea, due to inffated interest payments and ffuctuating exchange rates. However, projects in the liqueffed natural gas and IT sectors are likely to be approved during the second quarter of 2023 - boosting hot rolled plate demand. Inventories remain slightly above target.
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