According to the Korean Iron and Steel Association, domestic metallurgists are planning to spend 4.57 trillion this year. KRW (Korean won) for the construction of new production facilities and maintenance of existing equipment, down 24.8 percent from last year.
It is also the lowest investment volume since 2007. The Iron and Steel Association reported that the companies have invested $ 4.326 trillion. KRW in 2007 and then investment jumped to 9.13 trillion. KRW in 2012, but fell to $ 6.07 trillion. KRW next year. It looks like Korean companies have decided to cut costs to cope with stagnant steel demand and chronic oversupply in metallurgical production.
The drop in investment targets is largely due to the constant oversaturation of the steel market and a decline in consumer demand, especially from China, the world's largest steel consumer. This is the position of 36 surveyed Korean metallurgists, including POSCO, Hyundai Steel and DongkuSteel
Korean steelmakers reduce investment to 2007 level
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Azovpromstal® 27 May 2014 г. 15:46 |
