China, Japan and Taiwan were the major importers of flat steel from South Korea and have imported around 0.73 MnT of flat steel in total last month against 0.55 MnT in Oct’17.
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) jumped by 32%,M-o-M basis to 0.75 MnT in Nov’17 against Oct’17. Last month the same stood at 0.57 MnT in Oct’17.
On yearly basis, South Korea flat steel imports moved down by 19.3% in Nov’17 against 0.93 MnT in Nov’16.
During the time period of 11 months of CY17 (Jan-Nov) country has imported 9.31 MnT down by 15% against 10.95 MnT in similar time frame of previous year.
Commodity-wise South Korea Flat Steel imports in Nov’17
| Sub Commodity | Nov’17 | Oct’17 | M-o-M (change in %) |
Nov’16 | Y-o-Y (Change in %) |
| HRC/Plate | 0.42 | 0.27 | 55.55 | 0.5 | -16 |
| Galvanised Steel | 0.17 | 0.16 | 6.25 | 0.19 | -10.52 |
| Electrical Steel | 0.12 | 0.09 | 33.33 | 0.18 | -33.33 |
| CRC | 0.04 | 0.04 | 0 | 0.05 | -20 |
| Others | 0.00 | 0.01 | -100 | 0.01 | -100 |
| Grand Total | 0.75 | 0.57 | 32% | 0.93 | -19% |
Quantity in MnT
Source-SteelMint Research
China remained the major flat steel exporter to South Korea in Jan-Nov’17-China remained the largest flat steel exporter to South Korea and has occupied 62% of share (5.81 MnT) in Jan-Nov’17.Other major countries include Japan which exported 32.12% (2.99 MnT) of share followed by Taiwan at 3.30% (0.31 MnT).
In the month of Nov’17 South Korea imported 0.41 MnT of flat steel from China which moved up by 21% against 0.34 MnT in Oct’17.However in Nov’17 Japan stood as the largest exporter at 0.27 MnT followed by Taiwan at 0.05 MnT.
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