South Korea Billet Imports Fall 6% in September

South Korea has imported about 0.15 MnT billet in Sep’18 as against 0.16 MT in Aug’18, down by 6% M-o-M, as per custom data maintained by SteelMint.

However on yearly premises, Billet imports surge by 25% as compared to 0.12 MnT in Sep’17.

Further on a cumulative basis (Jan-Sep’18), Billet imports in South Korea has slump by 18% and stood at around 1.44 MnT, which was about 1.73 MnT in the same period last year.

Japan remains the largest Billet exporter to South Korea with a contribution of 1.1 MnT (54%) followed by Indonesia 0.3 MnT (15%) & Brazil 0.26 MnT .(12.61%).

Prior to this in CY17 (Jan-Dec), the country’s Billet imports was at around 2.04 MT.

Exports

South Korea has exported about 0.05 MnT Billet in Sep’18, which is more or less firm as against in Aug’18. However on Y-o-Y basis, Billet exports fall by 50% in Sep’18 as compared to 0.10 MnT in Sep’17.

During the Jan-Sep’18, the country’s total Billet exports stood at 0.53 MnT billet, slightly fall by 5% than the 0.56 MnT in Jan-Sep’17.

As per the SteelMint analysis, South Korea’s crude steel production move down marginally by 1% M-o-M to 6.09 MnT in Aug’18 which was about 6.17 MnT in Jul’18. Meanwhile on Y-o-Y basis the same remain largely stable at 6.09 MnT in Aug’18 and Aug’17.

Updates

— The global offers of 150*150 IS 2830 grade Billet are currently hovering at USD 455-465/MT FoB India.

–South Korea’s ferrous scrap imports fall by 4% M-o-M and stood at 0.50 MnT in Sep’18 as against 0.53 MnT in Aug’18. However in Jan-Sep’18 the country’s scrap imports was surge about 8% to 4.63 MnT as against 4.30 MnT during same period last year.

— Further the nation’s pig iron imports also fell by 40% during Jan-Sep’18 and recorded at 0.11 MnT as compared to 0.19 MnT in Jan-Sep’17.