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) witness the decline of 13% on yearly basis in Nov’17 to 1.65 MnT compared to 1.89 MnT in Nov’16.
However on monthly basis nation’s flat steel exports dropped slightly by 1.1% in Nov’17 against Oct’17.In Oct’17 the same was recorded at 1.67 MnT.
In the tenure of eleven months of CY17 (Jan-Nov) country’s flat steel exports fall marginally by 2% to 20.37 MnT which was 20.71 MnT in similar time-frame of previous year.
Grade-wise South Korea Flat Steel Exports in Nov’17
| Sub Commodity |
Nov’17 | Oct’17 | M-o-M (Change in %) |
Nov’16 | Y-o-Y (Change in %) |
| HRC/Plate | 0.62 | 0.70 | -11.4 | 0.8 | -22.5 |
| Galvanized Steel | 0.57 | 0.51 | 11.7 | 0.57 | 0 |
| CRC | 0.25 | 0.27 | -7.4 | 0.33 | -24.24 |
| Electrical Steel | 0.18 | 0.17 | 5.88 | 0.19 | -5.26 |
| Others | 0.03 | 0.02 | 50 | 0.02 | 50 |
| Grand Total | 1.65 | 1.67 | -2% | 1.91 | -13% |
Quantity in MnT
Source-SteelMint Research
China was the largest importer of flat steel in Jan-Nov’17– China occupied the largest portion of imports and accounts for 15.38% (3.13 MnT) of share in the tenure of eleven months (Jan-Nov) of CY17.
Other major countries include Japan which stood at 13.62%,( 2.77 MnT),India at 10.95% (2.23 MnT),followed by Mexico at 7.63% (1.55 MnT) and Thailand at 6% (1.22 MnT).
On monthly basis in Nov’17,China imported 0.28 MnT of flat steel increases by 12% against 0.25 MnT in Oct’17.However on monthly basis Japan imported 0.24 MnT followed by India at 0.18 MnT,Mexico 0.10 MnT and Thailand at 0.11 MnT in Oct’17.
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