South Korea's steel product imports likely to hit a new high this year

摘要

The POSCO Research Institute said on September 7 that South Korea's steel product imports are likely to hit an all-time high this year. "The amount of steel products imported from China alone is estimated to add up to 14.91 million tons this year," it remarked, adding, "South Korea is one of the three largest steel product importers in the world with an import-to-domestic demand ratio of 41%, second to none, but the country has yet to come up with measures for not being negatively affected by imported steel products with global suppliers targeting the South Korean market to deal with excessive supply and declining profits in the industry intertwined with various diplomatic and political issues."