South Korea the world’s 4th largest billet importer has witnessed consequent fall in its Billet imports in 2018. As per latest trade statistics by the custom, the nation’s billet imports records further down to 106,648 MT in April 2018.
The nation’s monthly imports for billet have decline by 9.29% M-o-M against 117,572 MT in Mar’18. In the month, Japan has exported about 80% billet (86,224 MT) to South Korea.
The depressed demand in finished steel can be attributed to the overall weak demand for Semi finished products throughout the country. The demand for finished steel in South Korea has been weak for the past couple of months over slowdown in the construction activities.
Coming to total imports in CY 2018 (Jan-Apr), the nation has imported about 561,030 MT billet; down by 28.31% as compared to 782,601 MT in the same preceding last year. Inline, on yearly basis in Apr’18, imports of billet to the nation decline by 51.91% against 221,796 MT in Apr’17.
In the first 4 months of 2018 (Jan-Apr) – Japan, Brazil & Taiwan was the major billet exporter to South Korea which exported about 319,720 MT (56.99%), 126,528 MT (22.55%) & 39,489 MT (7.04%), respectively.
Prior to this, in CY 2017 (Jan-Dec) the country’s billet import was around 2,055,081 MT & in CY 2016 at 2,795,226 MT.
Russia continues to remain the largest Pig iron supplier to South Korea
In 2018 (Jan-Apr) – Russia, South Africa & Japan was the major pig iron exporter to South Korea which exported about 35,774 MT (58.35%), 10,415 MT (16.99%) & 7,855 MT (12.81%), respectively.
While in April 2018, it is observed that the nation has imported about 8,912 MT Pig Iron, & 61,311 MT in CY18 (Jan-Apr).
In context to export prices, global offers for steel grade pig Iron is assessed at USD 360-365/MT FoB India & USD 375-390/MT FOB Russia
Top 10 load Country 2018 – Billet & Pig iron (Jan-Apr)
| S.No. | Top Load Country | |||||
| Billet | Pig iron | |||||
| Name | Quantity | % Share | Name | Quantity | % Share | |
| 1. | Japan | 319,720 | 56.99 | Russia | 35,774 | 58.35 |
| 2. | Brazil | 126,528 | 22.55 | South Africa | 10,415 | 16.99 |
| 3. | Taiwan | 39,489 | 7.04 | Japan | 7,855 | 12.81 |
| 4. | Indonesia | 30,107 | 5.37 | Indonesia | 3,017 | 4.92 |
| 5. | Russia | 25,521 | 4.55 | Taiwan | 2,539 | 4.14 |
| 6. | Iran | 15,131 | 2.70 | India | 894 | 1.46 |
| 7. | China | 3,383 | 0.60 | Ukraine | 580 | 0.95 |
| 8. | United Kingdom | 702 | 0.13 | Pakistan | 192 | 0.31 |
| 9. | Spain | 390 | 0.07 | Hong Kong | 25 | 0.04 |
| 10. | Germany | 42 | 0.01 | China | 20 | 0.03 |
Quantity in MT
Sources: SteelMint Stats.
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