The imported of color-coated in South Korea increased by 27.2% in October
According to customs clearance statistics compiled by the Korea International Trade Association, imports of color-coated in South Korea increased sharply in October, up 27.2% over the same period of last year to 26,884 tons. The industry speculated that the price of South Korea’s domestic color-coated rose, led to a sharp increase in imports.
In November, South Korea imported color coated prices have reached a high level. In fact, since July this year, the import prices of color coated in South Korea have also been rising continuously. Some analysts said the color coated market, speculative demand seems to have been rising since October.
From an end-user’s perspective, it is generally preferable to choose a cheaper imported product than a Korean domestic product. It is reported that South Korea’s domestic color-coated prices rose by 100,000 won per ton in October. However, the industry believes that with the highly price of imported raw materials, which is expected to South Korea color coated imports will decline.