South Korea - Flat Steel Export Rises 9% M-o-M in Jul’18
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As per latest customs data, South Korea flat steel exports which includes 7208 (HR coils /Plates),7209 (CR coils),7225 (Electrical sheets),7210/7212 (GP/GC) moved up by 9% on monthly basis to 1.95 MnT in Jul’18 against 1.79 MnT in Jun’18.
However on yearly basis the same remain largely stable in Jul’18 against 1.96 MnT in Jul’17.
During first seven months of (Jan-July) of CY18 nation's flat steel exports stood at 12.72 MnT ,lower by 4% against 13.2 MnT in similar time frame of previous year.
Thus post imposition of USA tariffs on Korean steel exports,nation has shifted their interest on other importing nations like China,Japan and India.However this resulted to surge in flat steel imports to India since past three consecutive months.Thus Korea exported 0.71 MnT of flat steel to India from May - Jul’18 after USA tariffs came into effect.
Sub Commodity wise Flat Steel Exports in Jul’18
| Sub Commodity | Jul'18 | Jun'18 | M-o-M (Change in %) | Jul'17 | Y-o-Y ( Change in %) |
| HRC/Plate | 0.75 | 0.73 | 2.7 | 0.8 | -6.3 |
| Galvanised Steel | 0.64 | 0.55 | 16.36 | 0.59 | 8.5 |
| CRC | 0.34 | 0.31 | 9.67 | 0.31 | 9.7 |
| Electrical Steel | 0.20 | 0.17 | 17.647 | 0.22 | -9.1 |
| Others | 0.03 | 0.03 | 0 | 0.03 | 0.0 |
| Grand Total | 1.96 | 1.79 | 9% | 1.95 | 1% |
Quantity in MnT
Source-SteelMint Research
Country-wise flat steel exports in Jul’18- China stood as the largest flat steel importer of South Korea and has imported 0.27MnT of flat steel in Jul’18 higher by 13% against 0.24 MnT in previous month.
Second largest importer was Japan which stood at 0.24 MnT in Jul’18 surge by 20% against 0.20 MnT in Jun’18.
Similarly India procured 0.24 MnT, Mexico at 0.18 Mnt,Thailand at 0.13 MnT followed by United states 0.15 Mnt ,Indonesia at 0.07 MnT and Vietnam at 0.10 MnT in Jul’18.
