It is reported that South Korean steelmakers' sales of special steel bars increased by 7.7% MoM in October 2011, though earlier expectations had been for October sales to remain unchanged from September volumes.

Meanwhile, there has been criticism that domestic special steel bar producers have been busy achieving their sale goals amid severe sales competition with low priced Chinese products, while not focusing so much on profitability.

In October 2011, sales by the seven South Korean producers like SeAH Besteel, POSCO Specialty Steel, Hyundai Steel, Jinyang Ind, Dongil Ind, Dongil Steel and Kwangjin Steel of special steel bars including S45C carbon steel bars, SCM alloy steel bars, tool steel bars and stainless steel bars totaled 213,268 tonnes.

In the given month, these producers' sales of special steel bars to domestic end users and distributors reached 97,085 tonnes and 89,395 tonnes respectively, while they sold 26,788 tonnes in the overseas markets.

On company basis, in October 2011, SeAH Besteel sold the largest volume of 139,180 tonnes among the other producers, followed by Hyundai Steel with 29,491 tonnes, POSCO Specialty Steel with 17,224 tonnes, Dongil Ind with 11,351 tonnes, Jinyang Ind with 11,081 tonnes, Dongil Steel with 3,959 tonnes and Kwangjin Steel with 1,982 tonnes.

Meanwhile, imports of special steel bars to South Korea, which totaled 71,500 tonnes in September 2011, declined to about 57,000 tonnes in October 2011, influenced by exchange rate fluctuations.

(Sourced from Steel Orbis)
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