South Korea Expects Stable Supply of Rebars in H2 amid Price Hike
Rebar Paradigm Engineering

South Korea Expects Stable Supply of Rebars in H2 amid Price Hike

Yonhap reported that South Korea's Ministry of Trade, Industry & Energy will work to maintain a stable supply of reinforcement steel

Yonhap reported that South Korea's Ministry of Trade, Industry & Energy will work to maintain a stable supply of reinforcement steel products used for construction in the second half of 2021, although the recovery of the virus-hit economy may continue to drive up their market prices. The local supply of rebar products is expected to reach 5.6 million tonnes in the July-December period, up 11% from a year earlier surpassing the anticipated demand of 5.5 million tonnes, which is 9% higher compared with 2020.”

Ministry said “Despite the higher supply, the local price of rebars may remain strong due to growing demand from the local industries in sync with the recovery of the virus-hit economy. The average market price of rebars, which slipped to around KWR 1 million won (USD 873) last month, bounced back to WR 1.2 million won this month, as the shorter-than-expected monsoon season also revitalized the demand from construction sites.”

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