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) registered decline by 6% on monthly basis in Feb’18 to 1.79 MnT as compared to 1.91 MnT in Jan’18.
However on yearly basis country’s flat steel exports fell marginally by 1% in Feb’18 against preceding year.In Feb’17 the same was recorded at 1.80 MnT.
Nation’s flat steel volumes witness decline amid Lunar New Year holiday scheduled in the month of February.However in long run South Korea may witness slowdown in flat steel export volumes post imposition of tariffs by 25% on steel products by USA president Donald trump under Section 232.
Although in the tenure of CY17 (Jan-Dec) country’s flat steel exports stood at 22.18 MnT, down by 3% which was 22.81 MnT in CY16.
Grade-wise South Korea Flat Steel Exports in Feb’18
| Sub Commodity | Feb’18 | Jan’18 | M-o-M (Change in %) |
Feb’17 | Y-o-Y (Change in %) |
| HRC/Plate | 0.68 | 0.75 | -9.33 | 0.68 | 0 |
| Galvanized Steel | 0.58 | 0.62 | -6.45 | 0.57 | 2 |
| CRC | 0.31 | 0.30 | 3.33 | 0.34 | -9 |
| Electrical Steel | 0.20 | 0.22 | -9.09 | 0.19 | 5 |
| Others | 0.03 | 0.03 | 0 | 0.02 | 50 |
| Grand Total | 1.79 | 1.91 | -6% | 1.80 | -1% |
Quantity in MnT
Source-SteelMint Research
Country-Wise South Korea Flat Steel Exports in Feb’18– China stood as the largest flat steel importer of South Korea and has imported 0.27 MnT of flat steel,remained unchanged since last two months of CY’18.
Second largest importer was Japan stood at 0.24 MnT in Feb’18 decline by 14% M-o-M against 0.28 MnT in Jan’18.
Third largest importer of South Korea was India with 0.21 MnT in Feb’18 decline by 9% compared with 0.23 MnT in Jan’18.
Other flat steel importers were Mexico at 0.13 Mnt,Thailand at 0.10 MnT followed by United states 0.11 Mnt ,Indonesia at 0.09 MnT and Vietnam at 0.09 MnT in Feb’18
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