(MENAFN) Industry data showed that South Korea's steel and iron imports from China dropped in February for the first time in 16 months, easing some of the local steelmakers', Yonhap News reported.
Total imports of iron and steel products from the world's No. 2 economy dropped 12.3 percent on-year to 905,000 tons last month, according to data from the Korea Iron & Steel Association (KOSA).
The latest data marks the first downward change in more than a year, with the figures having surged from between 20 and 50 percent monthly on-year throughout 2014.
"We should keep watch of how things progress down the road, as steel and iron imports in general were on a steep uptrend last year," a KOSA official said in a statement.
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