South Korea has imported about 208,607 MT Billet in May 2018, the trade statistics released by the country’s custom reported.
The nation’s monthly Billet imports rise sharply by 95.60% in May’18, as against the last month (106,648 MT). During the month, Japan has exported about 61.04% billet (127,348 MT) to South Korea.
South Korea was the primary export destination of Japanese billet. And it was also noticed that in May’18, Japan billet exports to the nation recorded highest volume since Jan’17 & also surge by around 48% M-o-M as against 86,224 MT in Apr’18
Further in May’18, Billet imports from Indonesia to South Korea has recorded around 80,634 MT, which was nil during April’18.
Coming to total imports in CY 2018 (Jan-May), the nation has imported about 769,637 MT Billet; down by 25.71% as compared to 1,036,032 MT in the same preceding last year. While, on yearly basis in May’18, imports of billet to the nation decline by 17.68% against 253,431 MT in May’17.
In the first five months of 2018 – Japan, Brazil & Indonesia was the major billet exporter to South Korea which exported about 447,068 MT (58.09%), 126,528 MT (16.44%) & 110,741 MT (14.39%), 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-May) – Russia, South Africa & Japan was the major pig iron exporter to South Korea which exported about 46,133 MT (60.50%), 13,674 MT (17.93%) & 8,156 MT (10.70%), respectively.
While in May 2018, it is observed that the nation has imported about 14,940 MT Pig Iron, which was approximately 6,000 MT higher than April 2018 Pig iron imports.
In context to export prices, global offers for steel grade pig iron are assessed at USD 385-390/MT FoB India, USD 380/MT FoB Brazil & USD 385-390/MT FoB Black Sea.
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