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Stocks at major South Korean steel mills rise

Stocks held by South Korea's eight major steel mills rose slightly this week to around 1.01 million tons. This means an increase of 0.4% compared to the previous week.

Stocks at major South Korean steel mills rise

Steel mills in the central region held 536,000 tons of stocks, down 0.3% from the previous week. In contrast, stocks at steel mills in the southern region jumped 1.2% on the week to 477,000 tons.

Regarding production capacity, Dongkuk Steel cut its output by 0.7%, while Hwan Steel cut output further by 1.7%.

Market participants suggest that steel prices have potentially bottomed out. The combination of reduced inventories and favorable sentiment may allow prices to recover in the near future.

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