Chinese steelmakers are threatening South Korean mills by taking advantage of their price competitiveness and by churning out better quality products, a report by a local traders association said Sunday.
According to the Shanghai office of the Korea International Trade Association (KITA), China's steel exports jumped 11.9 percent on-year to 62.34 million tons in 2013. This represents a 2.5-fold jump compared to 2009, the findings said. In the first half of this year, the world's second-largest economy shipped out 41.01 million tons of steel, a surge of more than 33.6 percent from the year before.