India remains the 3rd largest flat steel importer from South Korea after China and Japan. India occupies nearly 11% share in South Korea’s flat steel exports.
As per latest customs data, South Korea flat steel exports which includes 7208 (HR coils /Plates),7209 (CR coils), 7225 (Electrical sheets),7210/7212 (GP/GC) tumbled by 11% M-o-M basis in Oct’17 to 1.69 MnT compared to 1.9 MnT in Sep’17.
However on yearly basis also nation’s flat steel exports dropped by 12% in Oct’17 against 1.92 MnT in Oct’16.
In first ten months of CY17 (Jan-Oct) country’s flat steel exports fall marginally by 0.5% to 18.71 MnT which was 18.82 MnT in similar time-frame of previous year.
Grade-wise South Korea Flat Steel Exports in Oct’17
| Sub Commodity | Oct’17 | Sep’17 | M-o-M (Change in %) |
Oct’16 | Y-o-Y (Change in %) |
| HRC/Plate | 0.70 | 0.70 | 0 | 0.87 | -19.5 |
| Galvanised Steel | 0.51 | 0.60 | -15 | 0.53 | -3.7 |
| CRC | 0.27 | 0.33 | -18.18 | 0.32 | -15.62 |
| Electrical Steel | 0.17 | 0.24 | -29.16 | 0.20 | -15 |
| Others | 0.02 | 0.03 | -33.33 | 0.02 | 0 |
| Grand Total | 1.67 | 1.9 | -11% | 1.94 | -12% |
Quantity in MnT
Source-SteelMint Research
China occupies largest share of imports in Jan-Oct’17- China occupied the largest share of imports and accounts for 15.26% of share in first ten months (Jan-Oct) of CY17.
Other major countries include Japan which stood at 13.52%,( 2.86 MnT),India at 10.92% (2.05 MnT),followed by Mexico at 7.75% (1.45 MnT) and Thailand at 5.93% (1.11 MnT).
In the month of Oct’17,China imported 0.25 MnT of flat steel down by 19.3% against 0.31 MnT in Sep’17.However on monthly basis Japan exported 0.23 MnT followed by India at 0.19 MnT,Mexico 0.13 MnT aand Thailand at 0.10 MnT in Oct’17.
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