The South Korean market for Glass Fiber continued its downtrend for the fourth consecutive month, primarily driven by a surplus in foreign inventory and sluggish progress in automotive activities at downstream sites. The combination of weaker demand in the regional as well as international markets led to a significant decline in South Korean Glass Fiber prices.
During January, the Glass Fiber market witnessed a hefty decline of x.xx to assessed at USD xxx/ MT E-Glass Fiber CFR Busan (South Korea). This downtrend was majorly attributed to the decline in demand from the downstream automotive industry. As per Global Data, based on preliminary wholesale figures released separately by the manufacturers, the combined domestic sales of South Korea&#xx;s five major automakers decreased by xx to xxx,xxx units in January xxxx from xxx,xxx units in the same month the previous...
