Daily Steel News - 9 Apr 09

Korean billet imports soar in March
Korean import volumes of square billet, HR and rebar all increased in March. Japanese offers and material were more competitive than others in this price war. The square billet import quantity was 30,000 tons higher than February due to reduction of import price and peak season average settle price was about US$422/ton. Besides, the import HR volume was much enhanced in March with about 70 percent imported from Japan. Meanwhile, Korean import volume of rebar lifted significantly as well because of a plunge in Japanese rebar export price and strong demand. The average import price of Japanese rebar was US$472/to