South Korea: POSCO HR Export Volumes Fall to 7-Month Low in October

South Korea's major steel maker - POSCO has witnessed sharp decline in export volumes since Apr'18. Export volumes in Oct'18 are lowest since Apr'18.

As per reports, exports of Hot Rolled Steel goods were recorded at 230,000 MT, which is lowest since Apr'18.

Export volumes have suffered a setback with US imposing strict regulations. US which is one of its main exporting regions, is imposing countervailing duty on POSCO hot rolled steel from H2 CY16 by 58.68%.

US Department of Commerce on May'18 revised its preliminary review of POSCO's HR regulations to 55.31% from previous 57.04%. If US department maintains low tariff rate in final judgement in line with preliminary ruling, exports to US are likely to resume.

~Inputs from Steel Daily