South Korea’s hot-dipped galvanised (HDG) steel sheet exports were recorded at 704,919 t in H1CY’22, down 5% compared with 745,861 t in the same period last year.
Exports stood at 99,975 tonnes (t) in June 2022, down 9% compared with 109,776 t in the previous month. Exports dropped 6% y-o-y as against 106,555 t in June 2021.
Increased COVID-related disruptions in China along with Japan’s production setback resulted in the decline in exports.
Imports down 8% m-o-m
South Korea’s HDG imports decreased by 8% m-o-m to 70,779 t in June as against 76,565 t in May. Similarly, imports plunged 26% y-o-y as against 96,082 t in June 2021.
Imports registered a decline of 31% at 348,050 t in H1CY’22 compared to 502,939 t in the corresponding period last year (CPLY).
Outlook:
Market participants anticipate that HDG exports may fall post July amid concerns related to global economic recession and the summer season, and imports may fall due to the drop in prices.
Note: This article has been published in accordance with an article exchange agreement between SteelDaily and SteelMint.
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