South Korea: Imports of cold-rolled steel sheets increase by 7% y-o-y in Jan-Jun'23

South Korea's imports of cold-rolled steel sheets were 98,984 tonnes (t), while exports stood at 1.27 million tonnes (mnt) in January-June'23. Imports increased by 7%  compared to the same period last year, while exports decreased by 8%, as per data from Korea International Trade Association.

Imports down 60% m-o-m

Imports fell by a staggering 60% to 13,302 t in June from 33,171 t in May, although shipments increased 1% y-o-y in June. Notably, cold-rolled steel imports in May rose by 42%  to 33,171 t compared with April.

Chinese cold-rolled steel sheets were imported into Korea at low prices, impacting the local steel industry which was already battling unfavourable conditions. 

Exports rise 3% m-o-m

Exports increased by 3% to 217,025 t in June from 210,629 t in May. Also, export shipments inched up by 2% y-o-y in June.

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