The Korea Chamber of Commerce & Industry predicts that the steel industry in South Korea would be dull in the second half of 2012 because the steel demand for construction and ship building has come to a standstill.

It is expected that the export volume in second half of 2012 would tumble by 28% YoY. The ship building industry seems to be difficult to revive if the European debt crisis keeps expanding. The total export volume of ship building in the first five months of 2012 in South Korea was about USD 2.12 billion.

However, KCCI estimates the auto industry will keep robust on export up to 1.6 million units in the second half of 2012, supporting the slack steel market demand.

Source - www.yieh.com)

(www.steelguru.com)