South Korea Billet Imports Slip by 28%, Apr’17-Jan’18

Billet imports to South Korea reported a decline of 28% in the first 10 months of fiscal year 2018, the trade statistics released by the South Korean custom reported.

The nation has imported about 1.65 MnT Billet in Apr’17-Jan’18 against 2.30 MnT in Apr’16-Jan’17, decline by 28.26% on yearly premises. During this period (Apr’17-Jan’18), Japan has exported approximately 56% billet (0.92 MnT) to the nation. Prior to this, in Apr’16-Jan’17 the country’s billet import was around 2.30 MnT & major imports were done from Japan only & reported at 1.27 MnT ( around 55%)

Further, on Y-o-Y in Jan 2018 imports registered a fall of 26% & stood at 0.17 MnT against 0.23 MnT in Jan 2017. While on month basis, imports gain by 142.85% in Jan’18 against 0.07 in Dec’17.

In Jan,18 – Japan, Brazil & Russia was the major billet exporter to South Korea which exported about 90,000 MT (51.27%), 60,000 MT (36.69%) & 10,000 MT (5.98%), respectively.

Prior to this, in CY 2017 (Jan-Dec) the country’s billet import was around 2.06 MnT & in CY 2016 at 2.80 MnT.

Russia continues to remain the largest Pig iron supplier to South Korea

In FY 2018 (Apr-Jan) – Russia, China & India was the major pig iron exporter to South Korea which exported about 70,000 MT, 60,000 MT & 20,000 MT, respectively.

While in Jan 2018, it is observed that the nation has imported about 20,000 MT Pig Iron & the exports around 43% was done by Russia

In context to export prices, global offers for steel grade pig Iron is assessed at USD 360-370/MT FoB India & USD 345-355/MT FOB Russia.

Top load Country 2018 – Billet & Pig iron (January)

Quantity in MnT
Sources: SteelMint Stats.