(image: Pixabay)
SEOUL, May 31 (Korea Bizwire) — South Korea’s reinforced bar makers are reducing their output in the second quarter due to a decline in demand from the home construction market, industry sources said Thursday.
Hyundai Steel Co., Dongkuk Steel Mill Co. and Daehan Steel Co. plan to reduce the production of reinforced bars or put their rebar plants under maintenance programs to flexibly respond to declining demand for rebar products, the companies said.
This year, the government has introduced stricter regulations to stabilize the real estate market, which has had a direct impact on the local home construction market, they said.
If South and North Korea push forward with a railway project that connects the two countries, which is contingent on the results of upcoming high-level inter-Korean talks, steelmakers are expected to benefit from a surge in demand.
(Yonhap)
