It is reported that more steel distributors close down, both in Pusan and south regions in Korea.
The phenomenon gradually expanded to the capital area, in particular more serious since November.
Due to sluggish sales, together with the exchange rate losses, the Korea won rose against the US dollar, resulting cash flow of dealers appeared nervous collapse. The failure of dealers to focus on steel imports, sales of cold-rolled, stainless steel processing and other fields.
A large H-shaped steel distributor collapsed in Korea yesterday. South Korean steel market now even spread a "black list". Taking into account the present situation, the collapse of the dealer may be on the rise later.Source:Yieh.com
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Monday, December 08, 2008
12:35 |
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