According to statistics released by the Korea Iron and Steel Association (KOSA), Korea’s exports of hot rolled coils (HRC) totaled 402,200 tons in January, falling by 21% from a month ago.

It’s analyzed that the decreased HRC export prices were caused by weak demand and dropped export prices.

Meanwhile, the average HRC export prices were at US$597/ton FOB, decreasing by 13% year on year.

Besides, Korea’s HRC production totaled 2.85 million tons, decreasing by 9% month on month and falling by 6% year on year.