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 the increase of 24%,M-o-M basis in Aug’17 and stood at 0.84 MnT against 0.68 MnT in Jul’17.
On Y-o-Y basis, South Korea flat steel imports registered the decline of 19% in Aug’17 against Aug’16. In Aug’16 the same stood at 1.04 MnT.
During the first eight months of CY17 (Jan-Aug) country has imported 7.17 MnT down by 7% against 7.7 MnT in consecutive timeperiod of previous year.
Commodity-wise South Korea Flat Steel imports in Aug’17
| Sub Commodity | Aug’17 | Jul ’17 | M-o-M (change in %) |
Aug’16 | Y-o-Y (change in %) |
| HRC/Plate | 0.47 | 0.38 | 19.15 | 0.64 | -44.74 |
| Galvanised Steel | 0.18 | 0.13 | 27.78 | 0.22 | -30.77 |
| Electrical Steel | 0.13 | 0.13 | 0 | 0.2 | -53.85 |
| CRC | 0.05 | 0.05 | 0 | 0.07 | -40 |
| Others | 0.01 | 0.01 | 0 | 0.01 | 0 |
| Grand Total | 0.84 | 0.68 | 46.93 | 1.14 | 169.36 |
Quantity in MNT
Source-SteelMint Research
China remained the largest exporter in Aug’17 -China remained the largest flat steel exporter to South Korea and has imported 60% of flat steel in Aug’17 .Other major countries include Japan followed by Taiwan.
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