As per custom data, South Korea has imported about 0.14 MnT of Finish long steel in Sep’18, fall by 7% M-o-M as against 0.15 MnT in Aug’18.
Further on yearly comparison, finish long steel imports dipped by 42% as compared to 0.24 MnT in Sep’17.
On a cumulative basis, the country’s total finish long steel imports during Jan-Sep’18 stood at 1.51 MnT, down by 38% which was about 2.43 MnT during Jan-Sep’17.
China remained the largest exporter of Finish long steel to South Korea during Jan-Sep’18, with a contribution of around 47.75% (0.73 MnT), followed by Japan 35.75% (0.54 MnT), Vietnam 9.9% (0.15 MnT) & Taiwan 3.5% (0.05 MnT).
Prior to this in CY17 (Jan-Dec), the country’s finish long imports was at around 3.06 MT.
Exports:
South Korea has exported about 0.18 MnT of Finish long steel in Sep’18, down by 22% M-o-M as compared to 0.23 MnT in Aug’18. Similarly on Y-o-Y basis, country’s export fall by 10% in Sep’18 as against 0.20 MnT in Sep’17.
During the Jan-Sep’18, country’s total finish long steel exports stood at 1.92 MnT, slightly less by 4% than the 1.84 MnT in Jan-Sep’17.
Japan remained the largest exporter to South Korea during Jan-Sep’18, with a contribution of around 10.27% (0.20 MnT), followed by Malaysia 9.18% (0.18 MnT), Vietnam 8.8% (0.17 MnT), Canada 8.61% (0.17 MnT).
Updates:
–India imports value-added steel from South Korea. As per data available with SteelMint, BHEL imported around 26,000 MT H-Beam from South Korea at Chennai port during Jan-Sept’18.
–Recently media reported that Korean steelmakers i.e. Posco and Hyundai, visited his senior executives to state-run Vizag Steel (RINL) to explore the proposal to set up a 5 MnT steel plant along with the PSU. A month ago, the steel ministry held initial talks with these firms.
–India is a regular exporter of Iron ore & pellets to the South Korean Steel firms i.e. Posco Steel. India exported about 1.16 MnT Iron ore/pellets to the South Korea during Jan-Sep’18 and about 2.99 MnT in Jan-Dec’17.
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