South Korea the world’s 4th largest billet importer have imported about 58.33% quantity from Japan only out of the total billet imports of 120,000 MT in Sep’17, the trade statistics released by the South Korean custom reported.
The imports have registered a fall of about 25% M-o-M in Sep’17 against 160,000 MT in Aug’17. In the month, Japan has exported about 58.33% billet (70,000 MT) to South Korea.
Coming to total imports in CY 2017 (Jan-Sep), the nation has imported about 1.74 MnT Billet; down by 21.62% as compared to 2.22 MnT in the same preceding last year. In line, approximately a half downfall was being reported in Sep’17 against imports in Sep’16 at 220,000 MT.
In the first 9 months of 2017 (Jan-Sep) – Japan, Indonesia & Brazil was the major billet exporter to South Korea which exported about 840,000 MT (47.96%), 300,000 MT (17.25%) & 230,000 MT (13.39%), respectively.
Prior to this, in CY 2016 (Jan-Dec) the country’s billet import was around 2.80 MnT & in CY 2015 at 2.39 MnT.
Russia continues to remain the largest Pig iron supplier to South Korea
In 2017 (Jan-Sep) – Russia, China & India was the major pig iron exporter to South Korea which exported about 80,000 MT (42.23%), 60,000 MT (28.22%) & 20,000 MT (9.72%), respectively.
While in September 2017, it is observed that the nation has imported about 20,000 MT Pig Iron.
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