South Korea, the world’s 5th largest steel producer has reported down fall in its monthly Finish long steel exports by 9% in Jun’18, as per data available with SteelMint.
As per custom data, the nation has exported about 0.2 MnT Finish long steel in Jun’18, down about 9% (20,000 MT) M-o-M against May’18.
Out of total Finish Long exports in Jun’18, average exports registered at 0.02 MnT to following countries Japan, Vietnam, Malaysia, Canada & U.S.A each respectively which is stable except Japan as well as the U.S.A on monthly basis i:e; 33.34% down and U.S.A 100% up against May’18.
Coming to total exports in CY 2018 (Jan-Jun), the nation has exported about 1.29 MnT; up by around 7.5% compared to 1.2 MnT in the same preceding last year. Further, on yearly basis in Jun’18 exports of the nation stabilized and reported at 0.2 MnT in Jun’17 & Jun’18.
Sub-Commodity wise under Finish Long, following HS Codes has been considered – Bar & Rod (HS Code 7213 & 7214), Angle & Shapes (HS Code 7215 & 7216) & MS Wire (HS Code 7217).
Structure have contributed the major exports proportionate and registered at 0.09 MnT in Jun’18 against 0.12 MnT in May’18 down by 25% followed by Rebar 0.08 MnT in Jun’18 and remaining MS Wire registered at 0.02 MnT in Jun’18 which is stable on monthly basis.
Key Updates
— Australia extends AD Duties on galvanized steel from South Korea, China & Taiwan.
— Although South Korean producer Posco, Dongkuk Steel will be exempt as per Australian Commission on 17th July as per market sources.
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