South Korea has imported about 0.13 MnT Billet in Nov’18 as against 0.18 MnT in Oct’18, down by 28% M-o-M, as per customs data maintained by SteelMint.
The country’s Billet imports has dropped in line with lowered exports from Japan by 45% M-o-M to 0.05 MnT in Nov’18 in comparison with 0.08 MnT in Oct’18.
Japan has remained largest Billet exporter to South Korea, SteelMint analysed.
However on yearly premises, South Korea’s Billet imports was surge by 8% as compared to 0.12 MnT in Oct’17.
Meanwhile on cumulative basis (Jan-Nov’18), Billet imports in South Korea has reported downfall of about 11% and stood at around 1.72 MnT, which was about 1.97 MnT in the same period of last year.
Japan remains the largest Billet exporter to South Korea during Jan-Oct’18 period with a contribution of 0.87 MnT (50.66%), followed by Indonesia at 0.37 MnT (21.59%) & Brazil at 0.27 MnT (15.54%).
Prior to this in CY17 (Jan-Dec), the country’s Billet imports was at around 2.04 MnT.
Exports:
South Korea has exported about 0.06 MnT Billet in Nov’18, which is down by 45% as against 0.11 MnT in Oct’17. However on M-o-M basis, Billet exports increase by 50% in Nov’18 as compared to 0.04 MnT in Oct’18.
During Jan-Nov’18, the country’s total Billet exports stood at 0.63 MnT, fall by 18% than the 0.77 MnT in Jan-Nov’17.
As per the SteelMint analysis, South Korea’s crude steel production move up marginally by 2% during Jan-Nov’18 to 66.29 MnT which was about 64.95 MnT in Jan-Nov’17.
Updates:
— During Jan-Oct’18, Japan’s GE exports have been recorded at 87,616 MT, a surge of 8% y-o-y basis with highest exports being made to South Korea at 20,238 MT (23%), followed by U.S. at 10,435 MT (12%), Taiwan at 6,511 MT (7%) and Saudi Arabia at 5,201 MT (6%).
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