South Korea Billet Imports Slip by 30%, Mar’18

Billet imports to South Korea reported a decline of 30% in the month of March 2018, the trade statistics released by the South Korean custom reported.

As per SteelMint’s statistics report, the nation has imported around 0.12 MnT billet in the month of Mar’18 against 0.17 MnT in Feb’18. Prior to this, on M-o-M in Feb’18 it remained stable against 0.17 MnT in Jan’18. On yearly premises, billet imports decline by 40% in Mar’18 against 0.20 MnT in Mar’17.

Further, the nation has imported about 1.94 MnT Billet in FY18 against 2.63 MnT in FY17, decline by 26.23% on yearly premises. During the period of FY18, Japan has exported approximately 1.07 MnT billet to the nation. Prior to this, in FY17 the Japan’s billet export was around 1.44 MnT to the nation.

In Mar,18 – Japan, Indonesia & Brazil was the major billet exporters to South Korea which exported about 70,000 MT (58.33%), 30,000 MT (25%) & 10,000 MT (8.33%), respectively.

Russia continues to remain the largest Pig iron supplier to South Korea

In CY18(Jan-Apr) – Russia, South Africa & Japan was the major pig iron exporter to South Korea which exported about 29,633 MT, 9,139 MT & 7,355 MT, respectively.

While in CY18(Jan-Apr), it is observed that the nation has imported about 52,399 MT Pig Iron & the major imports was  from Russia ( 56.55% ).

In context to export prices, global offers for steel grade pig Iron is assessed at USD 385-390/MT FoB Brazil & USD 385-395/MT FOB Russia.

Top 5 load Country 2018 – Billet & Pig iron (Jan-Mar)

Quantity in MT
Sources: SteelMint Stats.