South Korea: Billet Imports Slip by 25%, July 2017

As per recent data released by South Korean customs it is observed that the nation has imported about 180,000 MT Billet in July 2017.

The imports have registered a downfall of 25% M-o-M in Jul’17 against 240,000 MT in Jun’17. In the month, Japan has exported about 55% billet (100,000 MT).

Coming to total imports in CY 2017 (Jan-Jul’17), the nation has imported about 1.45 MnT Billet; down by 13.70% as compared to 1.68 MnT in the same preceding last year.

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.

Country wise:

In 2017 (Jan-Jul) – Japan, Indonesia, Brazil was the major billet exporter to South Korea which exported about 680,000 MT (46.45%), 300,000 MT (20.60%) & 200,000 MT (13.84%), respectively.

Japan continues to remain the largest billet supplier to South Korea –

Japan remained in the top list of Billet export to South Korea. In the duration of seven month’s (Jan-Jul’17), Japan has exported around 1.96 MnT billet which contribute about 32% of total billet imports in South Korea.

Total Billet Imports in CY 17 (Jan-Jul’17)

Quantity in MnT
Sources: SteelMint Research & South Korean Customs