According to statistics released by the Korea Iron and Steel Association, South Korea imported 117,564 tons of steel wires in October, falling by 20,000 tonne from a month ago.
In October, the imported wire rods accounted for 41.5% of the country's total consumption, falling by 4.6% month on month.
In the first 10 months of this year, the country's imports of steel wires amounted to 1.359 million tonnes, acquiring 43.6% of the country's total consumption.
However, it's predicted that the South Korea's import volumes of steel wires might decline next year as the steel giant Posco will commission its No.4 steel wire plant next year.