South Korea’s production and sales of cold rolled steel sheets fell sharply in September 2022. The typhoon-related disruptions at Pohang works and the stagnant demand from major consuming industries, excluding automobiles, had an impact on production and sales volumes.
Production decline 26% m-o-m
Cold-rolled steel sheets production in September 2022 declined 26% to 4,95,444 tonnes (t) in comparison to 6,67,251 t a month ago. On an annual basis, the same fell by 22% against 6,37,322 t a year ago.
In January-September 2022, production stood at 5.72 million tonnes (mnt) down 5% against 6.03 mnt in the corresponding period last year.
Sales drop 17% m-o-m
Cold-rolled steel sheets sales dropped 17% to 545,951 t in September 2022 compared to 6,56,963 t in the preceding month. On a y-o-y basis, sales decreased 20% against 6,85,618 t in September 2021.
Sales aggregated to 5.71 mnt in January-September 2022, down 3% as against 5.86 mnt in the year-ago period. Out of the total sales, domestic sales accounted for 2.45 mnt (down 5%), while exports stood at 3.26 mnt (marginally down 1%) compared to the same period last year.
Exports in the month stood at 3,45,596 t, down 8% against 3,76,205 t a month ago. On a yearly basis, exports fell by 15% against 405,842 t a year ago.
Note: This article has been written in accordance with an article exchange agreement between SteelDaily and SteelMint.
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