Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

South Korea’s local supply of rebar products could increase by 11pc to reach 5.6mn mt in the July-December period as compared to the prior year, according to the South Korean industry ministry. 


The current estimate has surpassed the previous estimate of 5.5mn mt, an increase of 9pc from 2020. 


The South Korean industry ministry said it will work towards maintaining a stable supply of reinforcement steel products used for construction in H2, 2021. However, as the economy recovers amid the ongoing COVID-19 pandemic, market prices could remain firm. 


The average market price of rebars that previously slipped to around KRW 1mn (US$873) last month, bounced back to KRW 1.2mn this month, due to a shortened monsoon which has revived demand from construction sites


The ministry requested local construction firms against hoarding materials and said it would make efforts to stabilise the price. 

Leave a Reply

Your email address will not be published.