South Korean steel exports may deteriorate in the second half of the year

Currently, Korean steel pipe manufacturers are struggling to cope with the threat of a decline in exports. South Korean steel pipe industry said that before the Korean steel pipe exports continued to rise, but began to deteriorate in the middle of this year, and the situation in the second half may be even worse.

Under this circumstance, Korean steel pipe manufacturers that rely heavily on the US market, such as Shiya Steel, Husteel, Nexteel, etc., are expected to compete fiercely in order to obtain more orders in the second half of the year.

For example, Nexteel is trying to recover from the dilemma of export decline by expanding domestic shipments. In addition, the company has completed the construction of new coating equipment at its facility in Pohang to meet the demand for color-coated rectangular tubes in Korea.

According to industry insiders, the price of Korean steel pipe products is higher than that of structural steel pipes, but the price of steel pipe products will decline in the short term due to slowing demand and inventory backlog.

Source: China Steel News Network

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