According to the latest customs data, South Korea flat steel imports which includes 7208 (HR coils /Plates),7209 (CR coils),7225(Electrical sheets),7210/7212(GP/GC) plunged by 6% in Feb’18.Nation has imported 0.62 MnT in Feb’18 in comparison to 0.66 MnT in Jan’18.
On yearly basis country’s flat steel imports moved down significantly by 30% in Feb’18 against 0.89 MnT in Feb’17.
During first two month (Jan-Feb) of CY18 nation’s flat steel imports stood at 1.28 MnT decline by 27% in comparison to 1.75 MnT in similar time frame of previous year.
Commodity-wise South Korea Flat Steel imports in Feb’18
| Sub Commodity | Jan’18 | Feb’18 | M-o-M (change in %) |
Feb’17 | Y-o-Y (Change in %) |
| HRC/Plate | 0.36 | 0.35 | -3 | 0.5 | -30 |
| Galvanised Steel | 0.14 | 0.12 | -14 | 0.16 | -25 |
| Electrical Steel | 0.11 | 0.11 | 0 | 0.18 | -38.88 |
| CRC | 0.04 | 0.04 | 0 | 0.04 | 0 |
| Others | 0.00 | 0.00 | 0 | 0.00 | 0 |
| Grand Total | 0.66 | 0.62 | -6% | 0.89 | -30% |
Quantity in MnT
Source-SteelMint Research
Country-Wise South Korea Flat Steel Imports in Feb’18- China remained major flat steel exporter to South Korea and has procured 0.36 MnT of flat steel in the month of Feb’18,higher by 6% M-o-M basis against 0.34 MnT in Jan’17.
Other major countries include Japan which exported 0.21 MnT,lower by 22% which was 0.27 MnT in previous month.
However Taiwan exported 0.03 MnT which remained unchanged since past two months.
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