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) witness significant decline of 25% on monthly basis in Jul’18.
Nation has imported 0.47 MnT in Jul’18 in comparison to 0.63 MnT in Jun’18.
Similarly on yearly basis nation’s flat steel imports shrink by 31% in Jul’18 against 0.68 MnT in Jul’17.
Japanese mills have limited allocations for flat steel exports amid strong demand in domestic market.Meanwhile amid stringent production cuts to curb excess capacities results to decline in export volumes from China.Thus mills in China are focusing in domestic market over supply shortage in near term.
Commodity-wise South Korea Flat Steel imports in Jul’18
| Sub Commodity |
Jul’18 | Jun’18 | M-o-M (change in %) |
Jul’17 | Y-o-Y (Change in %) |
| HRC/Plate | 0.26 | 0.36 | -28 | 0.38 | -31.57 |
| Galvanized Steel | 0.11 | 0.14 | -21 | 0.13 | -15.38 |
| Electrical Steel | 0.07 | 0.10 | -30 | 0.13 | -46.15 |
| CRC | 0.03 | 0.03 | 0 | 0.05 | -40 |
| Others | 0.00 | 0.00 | 0 | 0.01 | -100 |
| Grand Total | 0.47 | 0.63 | -25% | 0.68 | -31% |
Quantity in MnT
Source-SteelMint Research
Country-Wise South Korea Flat Steel Imports in Jul’18 – China remained major flat steel exporter to South Korea and has procured 0.25 MnT of flat steel in Jul’18 plunged by 19% against 0.31 MnT in Jun’18.
Other major countries include Japan which exported 0.21 MnT in Jul’18 plunged by 25% in comparison with 0.28 MnT in previous month.
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