South Korea’s imports of cold rolled (CR) steel sheets rose significantly to 12,401 tonnes (t) in Feb’22 compared to 2,396 t seen during the same period last year. Similarly, on a monthly basis, imports surged 33% as against 9,339 t in Jan’22.
A major chunk of imports in Feb was from China at 11,333 t, a staggering rise of more than 620% as against Feb’21, followed by Japan at 971 t, up 55% y-o-y.
Cumulative import volumes stood at 21,740 t in Jan-Feb’22 compared to 5,399 t in the corresponding period last year (CPLY).
Exports down 2% y-o-y
South Korean mills exported about 236,230 t of CR steel sheets in Feb, down 2% as against 240,424 t in Feb’21. Exports fell by 10% m-o-m from 263,810 t in Jan.
Exports to Japan dropped 14% y-o-y to 28,343 t. Exports to China stood at 47,864 t (down 5%). Exports to Southeast Asia were recorded at 63,400 t (down 6%) and Southwest Asia at 4,795 t (down 52%).
In Jan-Feb’22, cumulative export volumes decreased to 500,040 t from 502,809 t in the year-ago period.
Note: This article has been published in accordance with an article exchange agreement between SteelDaily and SteelMint.
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