H-beam export volumes from South Korea stood at 707,000 t in Jan-Nov’21, the lowest since CY’15, as per Korea Steel Association data. On a y-o-y basis, volumes have declined by 15% as against 835,000 t in 2020.
The country’s Jan-Nov’21 exports, in terms of value, stands at around $5.82 billion, up by 35% against the previous year, the third-highest since CY’15. Notably, the rise in steel prices along with increasing prices of steelmaking raw materials has led to higher realisations, while export volumes have declined.
H-beam prices, which were ranging between $500-600/t in Jan’21, continued to rise and reached above $1,000/t in Sept.
However, market participants are concerned about the export price competitiveness of domestic H-beam producers, which might deteriorate in the near term. Prices have moved down slightly in Nov, but continued to remain above $1,000/t levels.
~ With inputs from Steel Daily
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