Increased Demand for Steel Plates

South Korean shipbuilders’ demand for steel plates is expected to continue to rise next year due to an increase in orders, according to a Korea Times report. The industry’s demand for steel plates will reach 5.4 million tons next year, up 300,000 tons from this year. The demand for steel plates is likely to amount to 6 million tons by 2008, a steady increase from 4.6 million tons in 2004, says the report. South Korea is home to the world’s top three shipbuilders: Hyundai Heavy Industries Co., Daewoo Shipbuilding & Marine Engineering Co., and Samsung Heavy Industries. Source: The Korea Times