December 04, 2008

Chinese H beam export to South Korea may be restricted

It is reported that officials from Ministry of Commerce of China and China Iron & Steel Association visited officials from Iron and Steel Association, Ministry of Commerce and Ministry of Industrial Energy in South Korea on November 22nd 2007 in which the hike of Chinese H beam export to South Korea was discussed.

China agreed to carry out quota system for H beam export, but according to data from South Korea Chinese export quantity of H steel to South Korea has already exceeded quota in the whole year of 2007 in September 2007.

South Korea has imported 787,000 tonnes of H beam in first nine months this year up by 15% in YoY among which 656,000 tonnes of H beams came from China accounting for 83% of imports.

H beam manufacturers in South Korea including Hyundai Steel Co threatened to lodge a complaint and experts expect that Chinese H steel export to South Korea would be restricted by the end of the year.