According to the latest customs data, South Korea flat steel imports which includes 7208 (HR coils /Plates),7209 (CR coils),7225(Electrical sheets),7210/7212(GP/GC) recorded a downfall of 30%,M-o-M basis in Oct’17 against Sep’17. Country has imported 0.56 MnT in Oct’17 in contrast to 0.8 MnT in Sep’17.
On yearly basis, South Korea flat steel imports moved down drastically by 37% in Oct’17 against Oct’16.In previous year nation has imported 0.9 MnT of flat steel.
During first ten months of CY17 (Jan-Oct) country has imported 8.53 MnT down by 15% against 10.01 MnT in similar time frame of previous year.
Commodity-wise South Korea Flat Steel imports
| Sub Commodity | Oct’17 | Sep’17 | M-o-M (change in %) |
Oct’16 | Y-o-Y (Change in %) |
| HRC/Plate | 0.27 | 0.44 | -38.6 | 0.51 | -13.72 |
| Galvanized Steel | 0.16 | 0.15 | 6.66 | 0.15 | 0 |
| Electrical Steel | 0.09 | 0.14 | -35.71 | 0.17 | -47 |
| CRC | 0.04 | 0.06 | -33.33 | 0.04 | 0 |
| Others | 0.01 | 0 | 0 | 0.01 | 0 |
| Grand Total | 0.57 | 0.79 | -30% | 0.89 | 37% |
Quantity in MnT
Source-SteelMint Research
China was the largest exporter of flat steel and accounts for 63% of share in Jan-Oct’17-China remained the largest flat steel exporter to South Korea and has occupied 63% of share in Jan- Oct’17.Other major countries include Japan procured 31.79% of share followed by Taiwan at 3.04%
In the month of Oct’17 South Korea imported 0.34 MnT of flat steel down by 24% against 0.45 MnT in Sep’17.However in Oct’17 Japan stood at 0.19 MnT while Taiwan at 0.02 MnT.
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