South Korea, one of the world’s largest importers and exporters of stainless steel, has released its calendar year 2022 (CY22) trade figures. The country’s imports of stainless steel fell by 4% in CY22 against CY21. On the other hand, exports fell by 32% in CY22, as per Customs data.
Imports down in CY22
During the January-December 2022 period, the total volume was recorded at 628,462 t, a y-o-y decrease of 4% as against the same period last year. In contrast, in December 2022, the total volume of imported finished flat stainless steel was 98,480 t, up 13% from 86,929 t in November, 2022.
China was the largest exporter during January-December 2022 with 308,030 t followed by Indonesia and Taiwan with 93,604 t and 64,768 t, respectively.
Exports fall in CY22
The total volume was 763,210 t during January-December 2022, down 32% from the corresponding period last year (CPLY). Similarly, the total volume of exported finished flat stainless steel was 29,615 t in December, a 12% decrease from 33,712 t in November, 2022.
As per SteelMint data, Thailand was the largest importer during January-December 2022 with 126,211 t followed by Vietnam and China with 106,357 t and 89,634 t, respectively.
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