In CY17 South Korea Trade and Crude Steel Production for Q1

South Korea ranks world’s 6th largest steel producing country and home to major steel producing company’s like- POSCO and Hyundai Steel.

Crude Steel Production down 2% in Q1 CY17

Its crude steel production stood at 68.64 MnT in CY16. Country had produced around 17.3 MnT of crude steel in the first quarter of CY 17 which saw a downfall of 2% from fourth quarter of 2016 in which the country had produced 17.6 MnT.

Iron Ore Import fall 9% in Q1 CY17

South Korea also is the world’s 3rd largest iron ore importer after China and Japan. It imported 71.6 MnT iron ore in CY16. In the starting quarter of CY17, 17.2 MnT of Iron ore was imported by South Korea which was down by 9% from the last quarter of CY16 which saw the country importing 18.7 MnT.

Finish Flat exports down & imports up in Q1 CY17

South Korea imported around 11.8 MnT of finish flat in CY16. The country imported 2.9 MnT of finish flat in the first quarter of CY17 which was increased as compared to the last quarter of CY16 by 7% as 2.7 MnT was imported in the last quarter of CY16.

South Korea is also ranked as world’s 3rd largest steel exporter. It exported 22.8 MnT of finish flat in CY16. Quarter one of CY17 saw the country’s export graph moving down by 10% as the country exported 5.25 MnT as compared to its export of 5.8 MnT in the last quarter of CY16.

Ferrous Scrap imports up to 1.53 MnT in Q1 CY17

South Korea is the 3^rd largest ferrous scrap importer across the globe. It imported 5.6 MnT in CY16. In the 1^stQuarter of CY17 it imported 1.5 MnT of ferrous scrap which was an increase by 6.6% in lieu of 4^th quarter of CY16 where the country importer 1.4 MnT.

Pig Iron imports up 18% Q-o-Q

South Korea is one of the largest importers of pig iron. Its imports totaled to 0.33 MnT in CY16. In the first quarter of 2017 the country imported 0.07 MnT an increase of 18% over fourth quarter of CY16 where the imports summed to 0.06 MnT.