South Korea: Rebar production, sales increase y-o-y in Nov'21

South Korean mills registered an increase in rebar production and sales in Nov'21, on an annual basis. However, export volumes dropped significantly y-o-y, SteelMint learned from a SteelDaily report.

Production

In Nov'21, mills produced 0.89 million tonnes (mn t) of rebar, an increase of 4% compared to the same month in the previous year. However, on a monthly basis, production volumes dropped by 2% against 0.91 mn t in Oct'21.

In Jan-Nov'21, rebar output jumped by almost 10% to 9.42 mn t compared to 8.57 mn t in the corresponding period last year (CPLY).

Sales

Korean mills sold around 0.91 mn t of rebar in Nov'21, higher by 7% against CPLY. On a monthly basis, sales volume rose 3% against 0.88 mn t in Oct'21.

Export sales, on the other hand, stood at 1,202 tonnes (t) in Nov'21, a decrease of 73% y-o-y and 9% m-o-m.

In Jan-Nov'21, rebar sales totalled 9.38 mn t, up 9% against 8.58 mn t in same period last year. Export shipments, in this period, fell by 19% to 33,557 t compared to 41,458 t in CPLY.