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) stood at 16.5 MnT in first nine months of CY18,inch down by 3% against 17.05 MnT in similar time frame of previous year.
However on monthly basis the same witness decline by 9% to 1.8 MnT in Sep’18 which was 1.98 MnT in Aug’18.Meanwhile on yearly basis country’s flat steel exports in Sep’18 drop by 5% against 1.9 MnT in Sep’17.
Increase in trade protectionism results to lower volumes of steel exports from Korea.The European Union decided to put quota on Korean steel products under safeguard plan from 19th July.Meanwhile China initiated anti dumping probe into steel products from Korea and three other countries.However South Korea was exempted from USA trade tariffs,but slowdown in major emerging markets in turn leads to weaker export volumes from South Korea
Commodity Wise South Korea Flat Steel Exports-
| Sub Commodity |
9M CY18 |
9M CY17 |
% Change |
Sep ’18 |
Aug ’18 |
M-o-M (Change in %) |
Sep ’17 |
Y-o-Y (Change in %) |
| HRC/Plate | 6.09 | 6.8 | -10.4 | 0.62 | 0.74 | -16.21 | 0.7 | -11.4 |
| Galvanized Steel |
5.44 | 5.21 | 4.41 | 0.62 | 0.64 | -3.125 | 0.6 | 3.3 |
| CRC | 2.95 | 2.94 | 0.34 | 0.34 | 0.34 | 0 | 0.33 | 3.0 |
| Electrical Steel | 1.78 | 1.85 | -3.78 | 0.19 | 0.23 | -17.39 | 0.24 | -20.8 |
| Others | 0.26 | 0.23 | 13.04 | 0.02 | 0.03 | -33.33 | 0.03 | -33.3 |
| Grand Total | 16.52 | 17.03 | -3% | 1.8 | 1.98 | -9% | 1.90 | -5% |
Source- SteelMint Research
Country-wise flat steel exports in 9M CY18- China stood as the largest flat steel importer of South Korea and has imported 2.52 MnT of flat steel in first nine months of CY18.
Second largest importer was Japan which stood at 2.16 MnT followed by India at 1.93 MnT, Mexico at 1.36 Mnt,Thailand at 1.00 MnT followed by United states 0.98 MnT and Vietnam at 0.75 MnT in 9M CY18.
South Korea flat steel Imports in 9M CY18 –Nation’s flat steel imports stood at 5.60 MnT in 9MCY18 move down significantly by 30% against 8 MnT in similar time frame of previous year.
However on monthly basis nation’s flat steel imports fell by 8% to 0.55 MnT in Sep’18 as compared to 0.6 MnT in previous month.
Meanwhile on yearly basis country’s flat steel exports in Sep’18 witness decline by 31% against 0.8 MnT in Sep’17.
Meanwhile China and Japan stood as the largest exporter of flat steel in 9MCY18.China stood at 3.04 MnT and Japan flat steel imports stood at 2.27MnT in first nine months of CY18.
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