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S.Korea's industrial power demand falls on lackluster steel, textile

Xinhua, April 28, 2015 Adjust font size:

Industrial demand for electricity in South Korea fell last month on lackluster activity in textile and steel companies, a government report showed Tuesday.

Power ales in the industrial sector, a barometer of industrial activities, reduced 1.1 percent from a year earlier to 23.01 kilowatt-hours in March, according to the Ministry of Trade, Industry and Energy.

Export growth boosted demand for power, but sluggish production among steel and textile companies led to the overall decline in industrial power demand.

The steel industry takes up nearly 20 percent of the overall industrial power demand, so the weak activity in the sector tends to pull down the figure for overall electricity demand.

Electricity sales in the steel industry declined 6.3 percent, with those for chipmakers and automakers sliding 1.2 percent and 0. 6 percent respectively. Demand from textile companies sank 7.4 percent last month.

Total power sales, including household and industrial demand, increased 0.6 percent from a year earlier to 40.88 kilowatt-hours in March due to low temperature that increased demand for heating.

Electricity demand for education facilities and household usage climbed 1.9 percent and 7.4 percent each, with the figure for general usage rising 3 percent last month. Endi