Billet Imports in South Korea fall by 26% in CY17

South Korea the world's 4th largest billet importer has imported around 2.06 MnT Billet in CY17 decline by 26% against 2.8 MnT in CY16, the trade statistics released by the South Korean custom reported

While in the month of Dec'17, Billet imports registered a decline by 42% M-o-M (0.07 MnT) in Dec'17 against November 2017. Japan remains the largest billet exporter and registered around 86% i:e; 0.06 MnT & remaining proportionate of around 14% (0.01 MnT) in Dec'17 being exported by Vietnam.

On yearly basis in Dec'17, imports of billet to the nation decline by 50% against 140,000 MT in Dec'16.

In the first 12 months of 2017 - Japan, Indonesia & Brazil was the major billet exporter to South Korea which exported about 1.10 MnT (53.37%), 0.30 MnT (14.63%) & 0.26 MnT (12.61%), respectively.

Prior to this, in CY16, the country's billet import was around 2.80 MnT & in CY15 at 2.39 MnT.

Russia continues to remain the largest Pig iron supplier to South Korea

In 2017 (Jan-Dec) - Russia, China & South Africa was the major pig iron exporter to South Korea which exported about 110,000 MT (46.03%), 60,000 MT (22.64%) & 20,000 MT (9.27%), respectively.

While in December 2017, it is reported that the nation has been imported about 30,000 MT Pig Iron which is second highest quantity and similar to midyear import figure.

In context to export prices, global offers for steel grade pig Iron is assessed at USD 390-395/MT FOB India, USD 370-380/MT FOB Russia & USD 365-370/MT FOB Brazil.

Top load Country 2017 - (till December)

Quantity in MnT
Sources: SteelMint Stats.