South Korea has imported about 145,954 MT Billet in July 2018, the trade statistics released by the country’s custom reported.
The nation’s monthly Billet imports decline by 25% in July’18, as against the last month (198,253 MT). During the month, Japan has exported about 54.80% billet (79,996 MT) to South Korea.
South Korea was the primary Billet export destination of Japan, Indonesia & Brazil. However it was noticed that in July’18, Indonesian billet exports to the nation recorded low by 17% M-o-M & stood at 45,700 MT. Inline Imports from Brazil also plunged by around 85.92% M-o-M as against 54,866 MT in June’18.
Further in July’18, Billet imports from Taiwan & South Africa to South Korea has recorded nil against the last month.
Coming to total imports in CY 2018 (Jan-Jul), the nation has imported about 1,113,844 MT Billet; down by 23.69% as compared to 1,459,642 MT in the same preceding last year. While, on yearly basis in Jul’18, imports of billet to the nation decline by 18.45% against 178,996 MT in Jul’17.
In the first seven months of 2018 – Japan, Indonesia & Brazil was the major billet exporter to South Korea which exported about 605,559 MT (54.37%), 211,247 MT (18.97%) & 189,117 MT (16.98%), 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-July) – Russia, South Africa & Japan was the major pig iron exporter to South Korea which exported about 55,127 MT (60.34%), 17,975 MT (19.68%) & 8,856 MT (9.69%), respectively.
While in July 2018, it is observed that the nation has imported about 4,544 MT Pig Iron, which was the lowest volume of exports in the duration of Jan-July’18.
In context to export prices, global offers for steel grade pig iron are assessed at USD 370-375/MT FoB India, USD 375-380/MT FoB Brazil & USD 375-380/MT FoB Black Sea.
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