As per the data compiled and maintained by SteelMint, South Korea’s exports of semi-finished, finished long and finished flat steel products witness monthly declined in Aug ’20, however, ferro-alloys exports increased during the month.
- Flat steel- Exports of flat steel decreased by 4% on the month while fell by 3% annually to 1,978,869 t in Aug ’20. Robust demand in domestic markets resulted to fall in the nation’s export volumes.
South Korea mainly exports to China and accounted for 458,024 t, down by 13% in Aug’20 m-o-m against 523,732 t a month ago. In similar lines exports to Japan stood at 171,070 t and Vietnam at 129,832 t were also down by 14% and 19% over the previous month’s volumes.
- Semi-finished- Semi-finished exports were slashed by 65% m-o-m to 27,756 t in Aug ’20, while the same increased on a yearly basis by 34%. Nation’s exports volumes to major importing nations were- Japan 11,741 t, China 9,781 t and Thailand at 6,188 t in Aug ’20.
- Long steel- Finished long exports declined by 11% m-o-m and 20% y-o-y to 166,172 t in Aug ’20. Major importing nations were- Japan 21,997 t, Philippines 20,435 and Canada 18,823 t in Aug ’20.
- Ferro alloy- Ferro-alloy exports surged by 41% m-o-m to 11,047 t in Aug ’20, however, on the year the same plunged by 24%. In Aug ’20, export volumes to leading countries were- India 2,024 t, United States 2,001 t and Turkey 1,776 t.
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