South Korea’s hot-dipped galvanised (HDG) steel sheet exports stood at 109,784 tonnes (t) in May 2022, down 3% from 113,073 t a month ago. On a yearly basis, the same fell by 7% against 117,563 t in the corresponding period last year (CPLY).
It is to be noted that, HDG steel exports in May were the lowest in a month this year, as per a SteelDaily report.
In January-May 2022 period, exports decreased by 5% to 0.60 million tonnes (mnt) in contrast with 0.63 mnt in January-May 2021.
Exports to Japan (19,011 t), China (9,413), Southwest Asia (11,157 t) and Europe (25,154 t) recorded a sharp drop y-o-y in May. On the other hand, exports to Thailand (2,534 t), the Middle East (1,950 t), South America (2,052 t) and Africa (5,729 t) recorded a phenomenal rise in the month under review.
Imports rise 14% m-o-m
South Korea’s HDG steel imports rose 14% to 76,565 t in May as against 67,250 t in April. The monthly import volumes were the highest so far this year.
However, on a y-o-y basis, imports slipped 9% against 84,019 t in May 2021.
In the first five months (January-May) of the current calender year, Korea’s HDG imports aggregated to 0.28 mnt, down by 32% as against 0.41 mnt in CPLY.
China and Japan were the leading exporters to Korea in May. Imports from China stood at 71,081 t and Japan at 5,017 t.
Note: This article has been published in accordance with an article exchange agreement between SteelDaily and SteelMint.
Leave a Reply