South Korea’s HRC production decreased by 3% in August

South Korea’s HRC production reached approximately 7.4 million tons from January to August, down 3% from the same period last year. During this period, domestic shipments fell by 2.6% y-o-y to 4.5 million tons, while exports fell by 6.6% y-o-y to 2.9 million tons.

In August, HRC production in South Korea fell by 3% m-o-m to 1.07 million tons. Domestic shipments fell by 4.4% m-o-m to 540,000 tons. However, exports rose by 17% m-o-m to 445,000 tons, indicating some recovery in overseas demand.

The overall decline in both production and domestic shipments highlights the ongoing challenges facing South Korea's steel sector, despite some improvement in export performance in August.