South Korea Billet Imports Plunge 20% in Jan-Aug’18

Billet imports in South Korea reported a decline of 19.87% in the first eight month of CY18 as against the same period of CY17.

As per custom data maintained by SteelMint, South Korea Billet imports during Jan-Aug’18 is about 1,275,815 MT as against 1,622,002 MT in Jan-Aug’17.

In the month of Aug’18, Billet imports rise slightly by 10% M-o-M & stood at 161,970 MT as against 145,954 MT in Jul’18. Japan remains the largest Billet exporter and registered around 44% i.e; 72,669 MT & the remaining major proportionate is exported by Indonesia & Mexico. Further on yearly basis in Aug’18, Billet imports in South Korea have declined slightly against 162,360 MT in Aug’17.

In the first 8 months of 2018 – Japan, Indonesia & Brazil was the major Billet exporter to South Korea and exported about 678,228 MT (53.16%), 257,014 MT (20.15%) & 189,117 MT (14.82%), respectively.

Prior to this, in CY17, the country’s Billet imports was around 2,055,081 MT & in CY16 at 2,795,226 MT.

As per the SteelMint analysis, in Jan-July’18 , the crude steel production of South Korea was around 42,055,449 MT, decline by 10.21% Y-o-Y against 46,839,471 MT in the same period last year.

In context to export prices, the global offers of 150*150 IS 2830 grade billet are currently at USD 490-500/MT FoB India & 125*125 3sp at USD 475-480/MT FoB Ukraine.