It is reported that Chinese steelmakers as Jinan Steel, Benxi Steel and Lianyuan steel provided USD 450 per tonne to USD 460 per tonne CFR for their 20mm plate to South Korea in this March to April.
Now, South Korean importers are rushing to place new orders for June to July with a price of USD 450 per tonne from Tianjin Steel, Xiangtan Steel and Baotou Steel.
Industry insiders believe South Korea's import volume of Chinese origin plate during this May to July would reach 0.1 million tonnes.
The import price of plate in South Korea is reported to be prevailing at KRW 0.71 million per tonne while, Chinese origin resources only go at KRW 0.56 million per tonne to KRW 0.58 million per tonne much competitive amid the international market.