South Korea has imported about 167,507 MT Billet in February 2018, the trade statistics released by the country’s custom reported.
The nation’s monthly imports for Billet are almost firm in February 2018, which is being similar from the last month (169,303 MT). During the month, Japan has exported about 47.05% billet (77,080 MT) to South Korea.
Coming to total imports in CY 2018 (Jan-Feb), the nation has imported about 336,810 MT Billet; down by 5.73% as compared to 357,293 MT in the same preceding last year. While, on yearly basis in Feb’18, imports of billet to the nation incline by 33.27% against 125,684 MT in Feb’17.
In the first two months of 2018 – Japan, Brazil & Russia was the major billet exporter to South Korea which exported about 163,888 MT (48.66%), 118,696 MT (35.24%) & 25,521 MT (7.58%), respectively.
Prior to this, in CY 2017 (Jan-Dec) the country’s billet import was around 2,055,081 MT & in CY 2016 at 2,795,226 MT.
Russia continues to remain the largest Pig iron supplier to South Korea
In 2018 (Jan-Feb) – Russia, South Africa & Japan was the major pig iron exporter to South Korea which exported about 21,053 MT (51.74%), 7,209 MT (17.72%) & 6,741 MT (8.81%), respectively.
While in February 2018, it is observed that the nation has imported about 19,850 MT Pig Iron, which was approximately 1,000 MT lower than January 2018 Pig iron imports.
In context to export prices, global offers for steel grade pig iron are assessed at USD 385-395/MT FoB India & USD 385-390/MT FOB Russia.
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