South Korea Flat Steel Exports Up Marginally Amid Reduced Chinese Exports
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South Korea is the world’s fourth-largest steel exporter has started this year on positive note as the flat steel volumes reported rise in Jan’18. 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) witness the surge of 5% on monthly basis in Jan’18 to 1.92 MnT in Jan’18 which was 1.81 MnT in Dec’17.
However on yearly basis country’s flat steel exports dropped by 5% in Jan’18 against Jan’17.In Jan’17 the same was recorded at 2.02 MnT.
Last month, South Korean steel maker - POSCO in its quarterly results announced that the company expects steel sale price to remain strong in 2018 amid reduced steel exports from China post capacity cuts. China’s steel export volumes fell 18% M-o-M to 4.65 MnT in Jan’18.
In the tenure of CY17 (Jan-Dec) country’s flat steel exports stood at 22.18 MnT, down by 3% which was 22.81 MnT in CY16.
Grade-wise South Korea Flat Steel Exports in Jan’18
| Sub Commodity | Jan'18 | Dec'17 | M-o-M (%) | Jan'17 | Y-o-Y (%) |
| HRC/Plate | 0.75 | 0.82 | -8.5 | 0.85 | -12 |
| Galvanised Steel | 0.62 | 0.54 | 15 | 0.58 | 7 |
| CRC | 0.30 | 0.26 | 15.3 | 0.37 | -19 |
| Electrical Steel | 0.22 | 0.16 | 38 | 0.19 | 16 |
| Others | 0.03 | 0.03 | 0 | 0.02 | 50 |
| Grand Total | 1.92 | 1.81 | 5% | 2.02 | -5% |
Quantity in MnT
Source-SteelMint Research
Japan was the major importer of flat steel from South Korea in Jan’18-
Japan was the largest flat steel importer of South Korea and has imported 0.28 MnT of flat steel in Jan’18. Other major countries include China, India Mexico Thailand and Indonesia.
On monthly basis in Jan’18 Japan imported 0.28 MnT of flat steel up by 27% against 0.22 MnT in Dec17.
China imported 0.27 Mnt of flat steel in Jan’18 decline by 7% M-o-M basis against 0.29 MnT in Dec’17.
India imported 0.23 MnT of flat steel from South Korea in Jan’18, up by 15% on monthly premises as compared to 0.20 MnT in Dec’17.
