- Indonesian cold-rolled imports plunge 88% year-on-year
- China remains dominant in cold-rolled imports
South Korea’s stainless steel plate imports declined around 17% y-o-y during 1-17 August, with both hot-rolled (HR) and cold-rolled (CR) products recording similar declines. Provisional customs clearance data showed combined HR and CR imports at 17,552 t, down 16.7% from 21,063 t during the same period last year.
Hot-rolled imports decline
South Korea’s stainless steel HR imports stood at 7,543 t during 1-17 August, down 16.7% y-o-y from 9,055 t in the corresponding period last year.
Japan remained the largest supplier at 3,230 t, up 7.7% y-o-y. Imports from China declined 26.8% to 1,702 t, while Indonesian shipments increased 30% to 1,359 t from 1,045 t a year earlier.
Taiwanese HR imports declined sharply by 64% to 885 t, while imports from Europe increased to 309 t from 122 t, although volumes remained relatively small.
The average import price for HR stainless steel stood at around $1,896/t, broadly stable from $1,885/t during the same period last year.
China maintains strong CR presence
CR stainless steel imports totalled 10,009 t during 1-17 August, down 16.6% y-o-y.
China remained the dominant supplier, with imports at 5,896 t, accounting for around 59% of total CR imports. Unlike the overall market, Chinese CR imports increased 2.1% y-o-y, remaining broadly at last year’s level.
In contrast, Indonesian CR imports declined sharply by 88.2% y-o-y to 322 t, from 2,730 t a year earlier.
Taiwanese CR imports also declined 38.7% to 1,606 t, while Malaysian imports increased to 717 t. Imports from India rose to 689 t, compared with 224 t during the same period last year, while Japanese shipments increased to 574 t from 160 t.
The average import price for CR stainless steel stood at around $2,123/t, slightly higher than $2,064/t a year earlier.
Outlook
Provisional customs data through mid-August indicate a broad decline in South Korea’s stainless steel imports, with HR and CR shipments both down around 17% y-o-y. While Chinese CR imports remained resilient, the sharp decline in Indonesian shipments was a key factor behind weaker overall import volumes.
Market participants are expected to monitor customs clearance data through the end of August, particularly shipments from Indonesia, Taiwan and Malaysia, to assess whether the current decline in imports continues.
Note: This article is published as part of a content exchange agreement between SteelDaily and BigMint.
Leave a Reply