S. Korean shipbuilders to increase imports of Chinese steel plates

South Korean shipbuilders are considering increasing their imports of Chinese steel plates next year as the prices of locally-produced plates have risen, industry sources said Friday.

Demand for steel plates by nine local shipbuilders is expected to reach 5.6 million tons this year, with about 2 million tons supplied by POSCO, the country’s leading steelmaker, 1.5 million tons by Dongkuk Steel Mill Co., the No. 2 producer, and 600,000 tons by Japanese steelmakers.