South Korea the world’s 4th largest billet importer have imported about 55% quantity from Japan only out of the total billet imports of 160,000 MT in Aug’17, the trade statistics released by the South Korean custom reported.
The imports have slightly fall about 11% M-o-M in Aug’17 against 180,000 MT in Jul’17. In the month, Japan has exported about 57% billet (90,000 MT) to South Korea.
Coming to total imports in CY 2017 (Jan-Aug’17), the nation has imported about 1.62 MnT Billet; down by 19% as compared to 2.00 MnT in the same preceding last year. Similarly, a half downfall was being reported in Aug’17 against imports in Aug’16 at 320,000 MT.
In the first 8 months of 2017 (Jan-Aug) – Japan, Indonesia & Brazil was the major billet exporter to South Korea which exported about 770,000 MT (47.20%), 300,000 MT (18.54%) & 230,000 MT (14.38%), 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-Aug) – Russia, China & India was the major pig iron exporter to South Korea which exported about 70,000 MT (41.13%), 50,000 MT (28.44%) & 20,000 MT (10.58%), respectively.
While in August 2017, it is observed that the nation has imported about 10,000 MT Pig Iron.
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