South Korea’s exports of semi-finished, finished long and finished flat witnessed significant monthly declines in Oct ’20. Robust demand in domestic markets resulted in fall in the nation’s export volumes.
Snapshot the exports are as follows:
South Korea’s exports to China stood at 58%, followed by Japan at 18% and Vietnam at 11%. Exports to Thailand and other nations accounted for 6% and 7% respectively.
- Semi-finished- Semi-finished exports fell sharply by 65% m-o-m to 0.04 mn t in Oct ’20, while the same increased on a yearly basis by 149%. Export of semi-finished was driven by Japan at 0.03 mn t and Thailand at 0.01 mn t.
- Flat steel: Exports of flat steel decreased by 7% in the month of Oct’20 and stook at 1.94 mn t as against 2.10 mn t in Sep’20, however on a y-on-y basis it increased by 4%. Major importing nations of flat steel were China at 0.34 mn t, Japan at 0.21 mn t, US at 0.17 mn t and Thailand at 0.14 mn t.
- Long steel- Finished long exports declined by 8% m-o-m and remained constant y-o-y to 0.19 mn t in Oct ’20. Exports of long steel were mainly driven by Japan at 0.032 mn t and Malaysia at 0.036 mn t.
- Ferro alloy- Ferro-alloy exports declined by 17% m-o-m to 8334 t in Oct ’20, however, on a y-on-y basis the exports plunged by 32%. In Oct ’20 the export volumes to leading countries were : Netherland at 2778 t, India at 1093 t and the US at 1000 t.
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