|  | 04/11/2004 |
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Supply-Demand of Stainless Hot Steel Coils in South Korea to Become Extremely Tight
The supply-demand situations of stainless hot steel coils in South Korea have been extremely tight mainly because POSCO, which has the only one-continuous steel productive mill in the country, has lacked the remaining power to supply the coils thanks to the firm's increasing supply of them. This is why each Korean reroller cannot secure full amount of raw materials. According to BNG Steel, the biggest reroller in the country, there became no choice but decrease the production for the firm. Last year POSCO increased its own productive capacity for cold rolling. Tightness of the supply and demand will be much more tighter, the firm said.
In East Asia, there was foundation of stainless steel mills mainlly in China one after another. There are trends that stainless cold rolled steel mills' operations start prior to upstream such as steelmaking and hot rolling there.
Moreover, Korean rerollers have difficulty increasing procurement of stainless hot steel coils from Japan. In Japan, the situations of demand of the coils are quiet; there has become easing of the supply and demand by and large. However, the demand for strings such as cars and electronic machines is still firm in Japan. According to Nippon Steel & Sumikin Stainless Steel Corporation, Japanese stainless steel mills have no energy enough to increase the supply to Korean rerollers. As a result, some of the Korean rerollers became obliged to decrease their production.
POSCO will make its own cold rolling equipment become efficient and increase the annual production by 50,000 tonnes next year. Until 2006, when hot steel coil production will become full in China, according to a trading firm's person in charge in overseas, the situations of supply and demand of stainless hot steel coils will be extremely tight.
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 | Supply-Demand of Stainless Hot Steel Coils in South Korea to Become Extremely Tight
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